Strs Ohio acquired a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 119,200 shares of the technology company’s stock, valued at approximately $269,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Lumen Technologies by 43.7% in the first quarter. BlackRock Inc. now owns 111,878,156 shares of the technology company’s stock valued at $296,477,000 after purchasing an additional 34,020,726 shares during the period. Renaissance Technologies LLC increased its stake in shares of Lumen Technologies by 98.5% in the first quarter. Renaissance Technologies LLC now owns 24,202,603 shares of the technology company’s stock valued at $64,137,000 after purchasing an additional 12,008,200 shares during the period. AQR Capital Management LLC increased its stake in shares of Lumen Technologies by 32,449.8% in the fourth quarter. AQR Capital Management LLC now owns 11,525,887 shares of the technology company’s stock valued at $60,165,000 after purchasing an additional 11,490,477 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Lumen Technologies in the first quarter valued at approximately $25,611,000. Finally, First Trust Advisors LP increased its stake in shares of Lumen Technologies by 49.4% in the first quarter. First Trust Advisors LP now owns 26,623,778 shares of the technology company’s stock valued at $70,553,000 after purchasing an additional 8,806,410 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.
Lumen Technologies Trading Down 32.8 %
Shares of NYSE:LUMN opened at $0.98 on Thursday. The stock has a market capitalization of $988.23 million, a price-to-earnings ratio of -0.09 and a beta of 1.02. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $7.39. The company has a debt-to-equity ratio of 8.71, a quick ratio of 1.23 and a current ratio of 1.23. The company has a 50 day moving average price of $1.42 and a 200 day moving average price of $1.82.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of Lumen Technologies from $2.50 to $1.80 and set an “underweight” rating for the company in a report on Tuesday, September 5th. The Goldman Sachs Group decreased their price objective on shares of Lumen Technologies from $3.50 to $3.00 and set a “neutral” rating for the company in a report on Thursday, August 3rd. Finally, Royal Bank of Canada decreased their price objective on shares of Lumen Technologies from $2.75 to $2.25 and set a “sector perform” rating for the company in a report on Thursday, August 17th. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $3.79.
Read Our Latest Analysis on Lumen Technologies
About Lumen Technologies
Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services under the Lumen, Quantum Fiber, and CenturyLink brands to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets.
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