Townsquare Capital LLC Buys 33,234 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Townsquare Capital LLC lifted its position in Lumen Technologies, Inc. (NYSE:LUMN) by 96.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 67,816 shares of the technology company’s stock after acquiring an additional 33,234 shares during the period. Townsquare Capital LLC’s holdings in Lumen Technologies were worth $360,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Lumen Technologies in the 4th quarter valued at about $63,638,000. Renaissance Technologies LLC grew its holdings in Lumen Technologies by 76.3% during the fourth 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 period. Hennessy Advisors Inc. acquired a new position in Lumen Technologies during the fourth quarter worth approximately $45,089,000. Allianz Asset Management GmbH raised its stake 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 buying an additional 1,710,373 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Lumen Technologies by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 4,921,381 shares of the technology company’s stock valued at $26,133,000 after buying an additional 128,172 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Price Performance

Shares of Lumen Technologies stock opened at $3.09 on Tuesday. The company has a 50-day simple moving average of $4.29 and a two-hundred day simple moving average of $5.64. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $10.33. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of -61.79 and a beta of 1.29. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70.

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, beating analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. Analysts forecast that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Analyst Upgrades and Downgrades

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