Unusual Put Option Trade in Lumen Technologies Worth $641.25K

On June 1, 2023 at 09:54:32 ET an unusually large $641.25K block of Put contracts in Lumen Technologies (LUMN) was sold, with a strike price of $4.00 / share, expiring in 596 day(s) (on January 17, 2025). Fintel tracks all large options trades, and the premium spent on this trade was 7.49 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in LUMN options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 1300 funds or institutions reporting positions in Lumen Technologies. This is a decrease of 126 owner(s) or 8.84% in the last quarter. Average portfolio weight of all funds dedicated to LUMN is 0.11%, a decrease of 35.14%. Total shares owned by institutions decreased in the last three months by 8.51% to 829,662K shares. The put/call ratio of LUMN is 1.20, indicating a bearish outlook.

Analyst Price Forecast Suggests 71.80% Upside

As of May 11, 2023, the average one-year price target for Lumen Technologies is 3.40. The forecasts range from a low of 2.02 to a high of $5.25. The average price target represents an increase of 71.80% from its latest reported closing price of 1.98.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Lumen Technologies is 15,033MM, a decrease of 9.11%. The projected annual non-GAAP EPS is 0.76.

What are Other Shareholders Doing?

IJR – iShares Core S&P Small-Cap ETF holds 47,061K shares representing 4.69% ownership of the company.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 32,238K shares representing 3.21% ownership of the company. In it’s prior filing, the firm reported owning 31,458K shares, representing an increase of 2.42%. The firm decreased its portfolio allocation in LUMN by 51.96% over the last quarter.

Southeastern Asset Management holds 32,090K shares representing 3.20% ownership of the company. In it’s prior filing, the firm reported owning 39,886K shares, representing a decrease of 24.29%. The firm decreased its portfolio allocation in LUMN by 60.60% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 27,094K shares representing 2.70% ownership of the company. In it’s prior filing, the firm reported owning 13,335K shares, representing an increase of 50.78%. The firm decreased its portfolio allocation in LUMN by 1.00% over the last quarter.

First Trust Advisors holds 26,624K shares representing 2.65% ownership of the company. In it’s prior filing, the firm reported owning 17,817K shares, representing an increase of 33.08%. The firm decreased its portfolio allocation in LUMN by 26.55% over the last quarter.

Lumen Technologies Background Information
(This description is provided by the company.)

Lumen is guided by its belief that humanity is at its best when technology advances the way we live and work. With approximately 450,000 route fiber miles and serving customers in more than 60 countries, it delivers the fastest, most secure platform for applications and data to help businesses, government and communities deliver amazing experiences.

Key filings for this company:

• UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K

This article originally appeared on Fintel