LumenLUMN
Market Cap: $6.31B
About: With 450,000 route miles of fiber, Lumen Technologies is one of the United States' largest telecommunications carriers serving global enterprises. Its merger with Level 3 in 2017 and divestiture of much of its incumbent local exchange carrier, or ILEC, business in 2022 has shifted the company's operations away from its legacy consumer business and toward enterprises (now about 75% of revenue). Lumen offers businesses a full menu of communications services, providing colocation and data center services, data transportation, and end-user phone and internet service. On the consumer side, Lumen provides broadband and phone service across 37 states, where it has 4.5 million broadband customers.
Employees: 27,000
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
100% more funds holding in top 10
Funds holding in top 10: 1 [Q1] → 2 (+1) [Q2]
4.22% less ownership
Funds ownership: 67.84% [Q1] → 63.62% (-4.22%) [Q2]
7% less funds holding
Funds holding: 476 [Q1] → 443 (-33) [Q2]
21% less repeat investments, than reductions
Existing positions increased: 111 | Existing positions reduced: 141
34% less capital invested
Capital invested by funds: $1.07B [Q1] → $709M (-$360M) [Q2]
39% less first-time investments, than exits
New positions opened: 51 | Existing positions closed: 84
78% less call options, than puts
Call options by funds: $7.83M | Put options by funds: $35.4M
Research analyst outlook
8 Wall Street Analysts provided 1 year price targets over the past 3 months
8 analyst ratings
Wells Fargo Eric Luebchow 87% 1-year accuracy 33 / 38 met price target | 36%downside $4 | Underweight Downgraded | 16 Aug 2024 |
B of A Securities David Barden 83% 1-year accuracy 5 / 6 met price target | 68%downside $2 | Underperform Maintained | 8 Aug 2024 |
TD Cowen Gregory Williams 70% 1-year accuracy 7 / 10 met price target | 13%upside $7 | Hold Maintained | 7 Aug 2024 |
UBS Batya Levi 80% 1-year accuracy 4 / 5 met price target | 19%downside $5 | Neutral Maintained | 7 Aug 2024 |
MoffettNathanson | 52%downside $3 | Sell Maintained | 7 Aug 2024 |
Financial journalist opinion
Based on 21 articles about LUMN published over the past 30 days