Global Financial Private Capital LLC Invests $1.80 Million in Centurylink Inc (CTL) Stock

Global Financial Private Capital LLC bought a new position in Centurylink Inc (NYSE:CTL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 84,925 shares of the technology company’s stock, valued at approximately $1,800,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its stake in shares of Centurylink by 1.2% during the third quarter. Oregon Public Employees Retirement Fund now owns 204,271 shares of the technology company’s stock valued at $4,331,000 after purchasing an additional 2,465 shares during the period. Baird Financial Group Inc. boosted its stake in shares of Centurylink by 1.7% during the second quarter. Baird Financial Group Inc. now owns 149,578 shares of the technology company’s stock valued at $2,788,000 after purchasing an additional 2,524 shares during the period. Raymond James Trust N.A. boosted its stake in shares of Centurylink by 9.2% during the third quarter. Raymond James Trust N.A. now owns 30,396 shares of the technology company’s stock valued at $645,000 after purchasing an additional 2,567 shares during the period. Vident Investment Advisory LLC boosted its stake in shares of Centurylink by 20.2% during the second quarter. Vident Investment Advisory LLC now owns 15,408 shares of the technology company’s stock valued at $287,000 after purchasing an additional 2,588 shares during the period. Finally, Usca Ria LLC boosted its stake in shares of Centurylink by 17.8% during the third quarter. Usca Ria LLC now owns 17,215 shares of the technology company’s stock valued at $365,000 after purchasing an additional 2,600 shares during the period. 76.84% of the stock is owned by institutional investors and hedge funds.

In related news, Director Glen F. Post III sold 150,000 shares of the firm’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $24.00, for a total value of $3,600,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.60% of the company’s stock.

A number of analysts have recently weighed in on the company. Cowen reissued a “hold” rating and set a $21.00 price objective on shares of Centurylink in a research note on Friday. Oppenheimer dropped their price objective on Centurylink from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday. Zacks Investment Research raised Centurylink from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Thursday, October 25th. Citigroup increased their price objective on Centurylink from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, August 9th. Finally, ValuEngine raised Centurylink from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $21.62.

Shares of CTL stock opened at $18.91 on Friday. Centurylink Inc has a 52 week low of $13.16 and a 52 week high of $24.20. The firm has a market capitalization of $22.78 billion, a P/E ratio of 21.29, a price-to-earnings-growth ratio of -13.11 and a beta of 0.76. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.60.

Centurylink (NYSE:CTL) last announced its quarterly earnings results on Thursday, November 8th. The technology company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. Centurylink had a return on equity of 4.43% and a net margin of 7.81%. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.88 billion. During the same quarter last year, the firm posted $0.42 earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. Sell-side analysts anticipate that Centurylink Inc will post 1.08 EPS for the current fiscal year.

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About Centurylink

CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers primarily in the United States. It operates in two segments, Business and Consumer. The company offers virtual private network data network services; Ethernet services; Internet protocol services; CenturyLink Prism TV that allows customers to watch television or cable channels and record up to four shows on one home digital video recorder; and Vyvx, which provides audio and video feeds over fiber or satellite for broadcast and production customers, as well as satellite digital television services.

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Institutional Ownership by Quarter for Centurylink (NYSE:CTL)

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