BNP Paribas Financial Markets Buys New Position in Lumen Technologies, Inc. (NYSE:LUMN)

BNP Paribas Financial Markets purchased a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 179,494 shares of the technology company’s stock, valued at approximately $953,000.

A number of other institutional investors also recently made changes to their positions in LUMN. Northern Trust Corp boosted its stake in Lumen Technologies by 8.6% during the fourth quarter. Northern Trust Corp now owns 12,354,499 shares of the technology company’s stock valued at $65,602,000 after buying an additional 982,206 shares in the last quarter. Norges Bank bought a new position in shares of Lumen Technologies during the 4th quarter valued at about $63,638,000. Renaissance Technologies LLC grew its stake in shares of Lumen Technologies by 76.3% in the 4th quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company’s stock worth $61,936,000 after purchasing an additional 5,049,709 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Lumen Technologies by 368.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company’s stock worth $52,111,000 after purchasing an additional 7,717,596 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Lumen Technologies by 28.1% in the 4th quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company’s stock worth $41,366,000 after purchasing an additional 1,710,373 shares in the last quarter. 66.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on LUMN shares. Citigroup upgraded shares of Lumen Technologies from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $8.00 to $6.50 in a research report on Wednesday, February 26th. Wells Fargo & Company raised Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price objective for the company in a research note on Friday, February 21st. Raymond James raised Lumen Technologies from a “market perform” rating to an “outperform” rating and set a $4.50 target price for the company in a report on Monday, May 5th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $4.25 price target on shares of Lumen Technologies in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.58.

Lumen Technologies Stock Performance

Shares of Lumen Technologies stock opened at $3.82 on Thursday. The stock has a market cap of $3.91 billion, a PE ratio of -76.28 and a beta of 1.34. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. The business has a fifty day simple moving average of $3.89 and a 200-day simple moving average of $5.27.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.16. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.12 billion. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the company posted ($0.04) EPS. On average, sell-side analysts anticipate 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.