Capital Insight Partners LLC acquired a new stake in Centurylink Inc (NYSE:CTL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 104,979 shares of the technology company’s stock, valued at approximately $1,751,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Centurylink by 22.6% during the 2nd quarter. Vanguard Group Inc. now owns 57,351,163 shares of the technology company’s stock valued at $1,369,547,000 after buying an additional 10,583,246 shares during the last quarter. Capital World Investors acquired a new stake in Centurylink during the 2nd quarter valued at $142,086,000. Standard Life Investments LTD acquired a new stake in Centurylink during the 2nd quarter valued at $112,613,000. Fiduciary Management Inc. WI acquired a new stake in Centurylink during the 2nd quarter valued at $86,411,000. Finally, Samlyn Capital LLC acquired a new stake in Centurylink during the 2nd quarter valued at $80,290,000. 82.32% of the stock is owned by hedge funds and other institutional investors.
In other news, COO Jeffrey K. Storey bought 71,000 shares of Centurylink stock in a transaction that occurred on Friday, December 8th. The shares were purchased at an average price of $14.30 per share, for a total transaction of $1,015,300.00. Following the completion of the acquisition, the chief operating officer now owns 2,498,668 shares of the company’s stock, valued at $35,730,952.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Glen F. Post III bought 50,000 shares of Centurylink stock in a transaction that occurred on Friday, December 8th. The stock was purchased at an average price of $14.17 per share, for a total transaction of $708,500.00. The disclosure for this purchase can be found here. Insiders have bought 150,595 shares of company stock worth $2,154,131 in the last 90 days. Insiders own 0.61% of the company’s stock.
A number of equities research analysts have commented on CTL shares. Bank of America lowered their target price on Centurylink from $42.00 to $27.00 and set a “buy” rating on the stock in a report on Friday, November 10th. Deutsche Bank reiterated a “hold” rating and set a $16.00 target price on shares of Centurylink in a report on Thursday, November 9th. Zacks Investment Research upgraded Centurylink from a “sell” rating to a “hold” rating in a report on Friday, October 13th. SunTrust Banks reiterated a “hold” rating and set a $25.00 target price on shares of Centurylink in a report on Wednesday, November 1st. Finally, Cowen reiterated a “hold” rating and set a $24.00 target price on shares of Centurylink in a report on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $22.37.
Centurylink Inc (CTL) traded down $0.11 during mid-day trading on Friday, hitting $17.36. The stock had a trading volume of 11,530,742 shares, compared to its average volume of 13,132,167. Centurylink Inc has a 1-year low of $13.16 and a 1-year high of $27.61. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.92. The firm has a market capitalization of $18,560.00, a PE ratio of 29.93, a price-to-earnings-growth ratio of -7.59 and a beta of 0.79.
Centurylink (NYSE:CTL) last posted its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.03). Centurylink had a return on equity of 7.99% and a net margin of 1.89%. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter last year, the business earned $0.56 EPS. Centurylink’s revenue for the quarter was down 7.9% compared to the same quarter last year. sell-side analysts forecast that Centurylink Inc will post 1.56 EPS for the current year.
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CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to its residential and business customers. Its segments include business, which provides strategic, legacy and data integration products and services to small, medium and enterprise business, wholesale and governmental customers, including other communication providers, and consumer, which provides strategic and legacy products and services to residential customers.
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