Mariner Investment Group LLC Takes Position in Lumen Technologies, Inc. (NYSE:LUMN)

Mariner Investment Group LLC acquired a new position in Lumen Technologies, Inc. (NYSE:LUMN) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 100,000 shares of the technology company’s stock, valued at approximately $531,000. Lumen Technologies comprises 0.1% of Mariner Investment Group LLC’s investment portfolio, making the stock its 27th largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sanctuary Advisors LLC bought a new stake in Lumen Technologies during the second quarter worth about $25,000. Concord Wealth Partners lifted its position in Lumen Technologies by 98.8% in the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock worth $28,000 after buying an additional 1,992 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in Lumen Technologies in the third quarter worth approximately $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Lumen Technologies during the third quarter worth approximately $36,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Lumen Technologies in the 3rd quarter worth approximately $46,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Price Performance

Shares of LUMN stock opened at $5.92 on Monday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 53.05. The business’s 50 day moving average price is $6.25 and its 200-day moving average price is $5.82. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.21 billion. During the same period in the previous year, the firm posted ($0.09) earnings per share. The firm’s revenue for the quarter was down 11.5% compared to the same quarter last year. On average, sell-side analysts forecast that Lumen Technologies, Inc. will post -0.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $4.25 target price (up previously from $4.00) on shares of Lumen Technologies in a report on Friday, December 20th. Citigroup lifted their price objective on Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. TD Cowen dropped their target price on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group boosted their price objective on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, Lumen Technologies presently has a consensus rating of “Hold” and a consensus target price of $4.66.

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.