Lumen Technologies, Inc. (NYSE:LUMN) Shares Acquired by Forum Financial Management LP

Forum Financial Management LP grew its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 72.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,552 shares of the technology company’s stock after purchasing an additional 11,581 shares during the period. Forum Financial Management LP’s holdings in Lumen Technologies were worth $146,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC lifted its holdings in shares of Lumen Technologies by 173.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock valued at $36,000 after purchasing an additional 4,277 shares in the last quarter. R Squared Ltd purchased a new stake in Lumen Technologies in the 4th quarter worth about $48,000. Seeds Investor LLC acquired a new stake in Lumen Technologies during the 4th quarter worth about $57,000. HB Wealth Management LLC purchased a new position in Lumen Technologies during the 4th quarter valued at about $59,000. Finally, Marshall Wace LLP acquired a new position in shares of Lumen Technologies in the 4th quarter valued at about $61,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on LUMN. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $4.25 price objective on shares of Lumen Technologies in a research report on Monday, February 10th. Citigroup upgraded shares of Lumen Technologies from a “neutral” rating to a “buy” rating and lowered their price target for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Finally, Wells Fargo & Company upgraded Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price objective for the company in a report on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $4.59.

Lumen Technologies Price Performance

Shares of NYSE:LUMN opened at $3.28 on Thursday. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. The stock has a market capitalization of $3.36 billion, a P/E ratio of -65.53 and a beta of 1.29. The business has a 50-day moving average of $4.23 and a two-hundred day moving average of $5.61. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. On average, equities research analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

About Lumen Technologies

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.