Long-Term Returns of Keith Meister’s 5 Activist Targets

In this article, we discuss long-term returns of Keith Meister’s 5 activist targets. If you want to see more stocks in this selection, check out Long-Term Returns of Keith Meister’s Activist Targets.

5. CenturyLink

Long Term Returns: 17.08%
S&P 500 Returns: 10.68%
Activist Investment: 2017

CenturyLink delivers telecommunications solutions in the areas of internet, voice, video, and cloud services. Meister revealed a 5% stake in the company in 2017 and reiterated that the stock was undervalued by at least 40%.

The investment came at a time when the company was in the process of merging with Level 3 Communications. The merger was expected to turn the company from a struggling business onto a thriving one with plenty of dividend coverage. Meister pushed Jeff Storey to be the CEO of the combined companies to help oversee the integration, given his solid track record at Level 3.

In 2020, CenturyLink rebranded to Lumen Technologies, Inc. (NYSE:LUMN) and announced a new strategy focused on enterprise customers and computing. Meister praised the rebranding reiterating that the company would benefit from Storey’s expertise. By 2020 the value of Meister shares in the company was down by about 30%.