1 week Ago By ABMN Staff
Pictet Asset Management Holding SA grew its holdings in Lumen Technologies, Inc. ( NYSE:LUMN – Free Report ) by 12.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC).
The fund owned 146,284 shares of the technology company’s stock after acquiring an additional 15,991 shares during the period. Pictet Asset Management Holding SA’s holdings in Lumen Technologies were worth $777,000 at the end of the most recent quarter. A number of other hedge funds and other institutional investors have also recently made changes to their positions in LUMN.
Legacy Investment Solutions LLC purchased a new stake in Lumen Technologies in the third quarter valued at $30,000. Smartleaf Asset Management LLC lifted its holdings in shares of Lumen Technologies by 173.3% in the 4th quarter.
Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock valued at $36,000 after buying an additional 4,277 shares during the period. R Squared Ltd purchased a new stake in shares of Lumen Technologies in the fourth quarter worth about $48,000. HB Wealth Management LLC acquired a new stake in Lumen Technologies during the fourth quarter worth about $59,000.
Finally, M&T Bank Corp purchased a new position in Lumen Technologies during the fourth quarter valued at approximately $66,000. Institutional investors and hedge funds own 66.19% of the company’s stock.
Lumen Technologies Stock Up 4.7 % LUMN stock opened at $3.43 on Tuesday.
The stock has a market capitalization of $3.51 billion, a P/E ratio of -68.49 and a beta of 1.
29. Lumen Technologies, Inc. has a 52 week low of $0.
97 and a 52 week high of $10.33. The firm has a 50-day simple moving average of $4.
66 and a 200-day simple moving average of $5.93. The company has a quick ratio of 1.
20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70.
Analyst Ratings Changes Several research firms have commented on LUMN. Citigroup upgraded Lumen Technologies from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $8.00 to $6.
50 in a research report on Wednesday, February 26th. Wells Fargo & Company raised shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price target on the stock in a report on Friday, February 21st.
Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $4.25 price objective on shares of Lumen Technologies in a report on Monday, February 10th. Two 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, the stock currently has an average rating of “Hold” and an average target price of $4.59. Read Our Latest Report on LUMN Lumen Technologies Profile ( Free Report ) 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. Read More Want to see what other hedge funds are holding LUMN? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for Lumen Technologies, Inc. ( NYSE:LUMN – Free Report ). Receive News & Ratings for Lumen Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumen Technologies and related companies with MarketBeat.
com's FREE daily email newsletter ..
