Rakuten Securities Inc. Buys 15,861 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Rakuten Securities Inc. increased its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 506.7% during the fourth quarter, Holdings Channel reports. The firm owned 18,991 shares of the technology company’s stock after acquiring an additional 15,861 shares during the period. Rakuten Securities Inc.’s holdings in Lumen Technologies were worth $101,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of LUMN. Hennessy Advisors Inc. bought a new position in shares of Lumen Technologies in the fourth quarter worth $45,089,000. Victory Capital Management Inc. grew its position in Lumen Technologies by 1,081.0% in the third quarter. Victory Capital Management Inc. now owns 2,368,911 shares of the technology company’s stock valued at $16,819,000 after acquiring an additional 2,168,325 shares during the last quarter. Allianz Asset Management GmbH grew its position in Lumen Technologies by 28.1% in the fourth quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company’s stock valued at $41,366,000 after acquiring an additional 1,710,373 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Lumen Technologies by 46.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,081,965 shares of the technology company’s stock valued at $11,055,000 after acquiring an additional 664,823 shares during the last quarter. Finally, FORA Capital LLC bought a new position in Lumen Technologies in the third quarter valued at about $2,909,000. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Stock Performance

NYSE:LUMN opened at $4.98 on Thursday. The stock has a market cap of $5.04 billion, a P/E ratio of -99.48 and a beta of 1.28. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The stock’s 50-day moving average is $5.10 and its 200-day moving average is $6.10. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33.

Lumen Technologies (NYSE:LUMN) last released 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 research analysts anticipate that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Citigroup upgraded Lumen Technologies from a “neutral” rating to a “buy” rating and decreased their target price for the company from $8.00 to $6.50 in a research report on Wednesday, February 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 target price on shares of Lumen Technologies in a research report on Monday, February 10th. Finally, Wells Fargo & Company upgraded Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 target price on the stock in a research 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 company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $4.59.

Lumen Technologies Company 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.