Semanteon Capital Management LP Acquires 19,737 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Semanteon Capital Management LP lifted its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 49.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,612 shares of the technology company’s stock after purchasing an additional 19,737 shares during the quarter. Semanteon Capital Management LP’s holdings in Lumen Technologies were worth $317,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Blueshift Asset Management LLC bought a new stake in shares of Lumen Technologies during the fourth quarter valued at approximately $148,000. Xponance Inc. boosted its position in shares of Lumen Technologies by 11.1% during the fourth quarter. Xponance Inc. now owns 76,464 shares of the technology company’s stock valued at $406,000 after purchasing an additional 7,646 shares in the last quarter. Counterpoint Mutual Funds LLC boosted its position in shares of Lumen Technologies by 12.3% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 48,408 shares of the technology company’s stock valued at $257,000 after purchasing an additional 5,317 shares in the last quarter. Cibc World Markets Corp bought a new stake in shares of Lumen Technologies during the fourth quarter valued at approximately $503,000. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of Lumen Technologies by 15.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company’s stock valued at $111,000 after purchasing an additional 2,844 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on LUMN. Royal Bank of Canada reiterated a “sector perform” rating and set a $4.25 price objective on shares of Lumen Technologies in a research note on Monday, February 10th. Citigroup upgraded Lumen Technologies from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $8.00 to $6.50 in a research note 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 research note 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 given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $4.59.

Lumen Technologies Stock Up 0.3 %

LUMN stock opened at $4.94 on Friday. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33. The business has a fifty day moving average price of $5.01 and a 200-day moving average price of $6.07. 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 $5.00 billion, a P/E ratio of -98.68 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last posted its quarterly 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%. Equities analysts forecast that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Lumen Technologies Profile

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.