Cibc World Markets Corp Makes New $503,000 Investment in Lumen Technologies, Inc. (NYSE:LUMN)

Cibc World Markets Corp bought a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 94,732 shares of the technology company’s stock, valued at approximately $503,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in shares of Lumen Technologies in the third quarter valued at $183,000. Oppenheimer & Co. Inc. grew its stake in shares of Lumen Technologies by 23.3% in the third quarter. Oppenheimer & Co. Inc. now owns 35,928 shares of the technology company’s stock valued at $255,000 after buying an additional 6,782 shares in the last quarter. Natixis Advisors LLC acquired a new stake in shares of Lumen Technologies in the third quarter valued at $1,071,000. Thrivent Financial for Lutherans grew its stake in shares of Lumen Technologies by 25.2% in the third quarter. Thrivent Financial for Lutherans now owns 1,056,735 shares of the technology company’s stock valued at $7,503,000 after buying an additional 212,407 shares in the last quarter. Finally, Pathstone Holdings LLC grew its stake in shares of Lumen Technologies by 7.0% in the third quarter. Pathstone Holdings LLC now owns 442,441 shares of the technology company’s stock valued at $3,141,000 after buying an additional 29,091 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Stock Up 0.3 %

Shares of NYSE LUMN opened at $4.94 on Friday. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of -98.68 and a beta of 1.28. 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 business has a 50-day moving average of $5.01 and a two-hundred day moving average of $6.08. Lumen Technologies, Inc. has a 1 year low of $0.97 and a 1 year high of $10.33.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, analysts forecast that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LUMN shares. 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 target price on shares of Lumen Technologies in a report on Monday, February 10th. Finally, 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 report on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $4.59.

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.