Trexquant Investment LP Invests $12.93 Million in Lumen Technologies, Inc. (NYSE:LUMN)

Trexquant Investment LP purchased a new stake in Lumen Technologies, Inc. (NYSE:LUMN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,435,026 shares of the technology company’s stock, valued at approximately $12,930,000. Trexquant Investment LP owned about 0.24% of Lumen Technologies as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of LUMN. Franklin Resources Inc. increased its stake in shares of Lumen Technologies by 93.2% during the fourth quarter. Franklin Resources Inc. now owns 1,083,667 shares of the technology company’s stock worth $5,754,000 after purchasing an additional 522,874 shares during the period. Alliancebernstein L.P. grew its holdings in Lumen Technologies by 16.9% in the 4th quarter. Alliancebernstein L.P. now owns 1,520,208 shares of the technology company’s stock valued at $8,072,000 after buying an additional 219,473 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in Lumen Technologies by 7.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 34,225 shares of the technology company’s stock worth $182,000 after buying an additional 2,457 shares during the period. Pictet Asset Management Holding SA lifted its holdings in shares of Lumen Technologies by 12.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 146,284 shares of the technology company’s stock worth $777,000 after buying an additional 15,991 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Lumen Technologies in the fourth quarter valued at about $63,638,000. 66.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Lumen Technologies Stock Down 2.2 %

Shares of LUMN opened at $3.84 on Wednesday. The firm has a 50 day simple moving average of $4.82 and a two-hundred day simple moving average of $6.01. The company has a market cap of $3.93 billion, a P/E ratio of -76.68 and a beta of 1.28. Lumen Technologies, Inc. has a one year low of $0.97 and a one year high of $10.33. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data 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%. Research analysts forecast that Lumen Technologies, Inc. will post -0.87 EPS 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.