Why This Private Equity-Style Fund Just Bet $17 Million on Lumen Technologies Stock

Key Points Philadelphia-based Penn Capital Management acquired 2.7 million shares of Lumen Technologies for an estimated $16.8 million in the third quarter. The position represents 1.3% of 13F reportable assets under management at quarter-end. Though a large purchase, the new stake places Lumen Technologies outside the fund's top five holdings. These 10 stocks could mint the next wave of millionaires › Philadelphia-based Penn Capital Management Company disclosed a new position in Lumen Technologi ...