Lumen Technologies, Inc.
In the published model solve dated 2026-Q2, anchored at $6.04, Lumen Technologies, Inc. (LUMN) is priced for +1.4% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 27, 2026 from SEC EDGAR filings.
• Lumen's value rests on its large intercity fiber network, which the AI buildout made strategic: the company took in roughly $870 million of cash from private connectivity deals in the first quarter and saw strategic revenue surpass legacy at 51% of business revenue [Source: Lumen Q1 FY2026 results, May 2026]. • The biggest risk is the balance sheet: with five distress signals and over $30 billion of net debt against about $2.4 billion of EBITDA, the equity is a leveraged option, and most valua
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579 institutional managers reported holding LUMN in 13F filings for the quarter ended 2026-03-31. Together they hold about 70% of the company; the top 10 hold 43%. 78 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 59.2M shares were sold short as of the 2026-06-15 count, about 6% of shares outstanding (4.6 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
LUMN has cut its share count 8.1% over the past five years, spending $1.20B on repurchases. It stopped paying its dividend within the past year.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at LUMN over the trailing three years: 2023: 3 buys totaling $1.62M; 2024: 7 buys totaling $1.23M; 2025: 7 buys totaling $859k; 2026: 1 buy totaling $500k. 18 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
LUMN's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-02 | 0.0% | -25.1% |
| 2023-11-01 | -34.2% | +82.7% |
| 2024-02-23 | -3.2% | -19.3% |
| 2024-05-01 | -0.8% | -14.1% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
LUMN's latest 8-K filings: 2026-06-11 (items 8.01, 9.01); 2026-06-10 (items 8.01, 9.01); 2026-05-27 (items 5.02, 5.03, 5.07, 9.01); 2026-05-21 (items 1.01, 2.03, 9.01); 2026-05-20 (items 1.01, 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.