Centurylink Inc (CTL) Shares Sold by AllSquare Wealth Management LLC

AllSquare Wealth Management LLC cut its holdings in Centurylink Inc (NYSE:CTL) by 30.1% during the first quarter, HoldingsChannel reports. The firm owned 6,501 shares of the technology company’s stock after selling 2,800 shares during the quarter. AllSquare Wealth Management LLC’s holdings in Centurylink were worth $78,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Millennium Management LLC lifted its holdings in Centurylink by 29.8% in the 4th quarter. Millennium Management LLC now owns 5,762,976 shares of the technology company’s stock worth $87,309,000 after purchasing an additional 1,323,554 shares in the last quarter. Thomasville National Bank lifted its holdings in Centurylink by 5.6% in the 4th quarter. Thomasville National Bank now owns 46,265 shares of the technology company’s stock worth $701,000 after purchasing an additional 2,440 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in Centurylink by 18.0% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 1,128,258 shares of the technology company’s stock worth $17,093,000 after acquiring an additional 171,941 shares during the last quarter. Savant Capital LLC increased its stake in Centurylink by 21.5% in the 4th quarter. Savant Capital LLC now owns 18,201 shares of the technology company’s stock worth $276,000 after acquiring an additional 3,220 shares during the last quarter. Finally, Burns J W & Co. Inc. NY increased its stake in Centurylink by 19.8% in the 4th quarter. Burns J W & Co. Inc. NY now owns 30,297 shares of the technology company’s stock worth $459,000 after acquiring an additional 5,000 shares during the last quarter. 75.52% of the stock is currently owned by institutional investors.

A number of research firms have issued reports on CTL. UBS Group downgraded Centurylink from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $24.00 to $14.00 in a research note on Thursday, February 14th. ValuEngine downgraded Centurylink from a “sell” rating to a “strong sell” rating in a research note on Thursday, February 14th. Edward Jones downgraded Centurylink to a “sell” rating in a research note on Tuesday, March 5th. JPMorgan Chase & Co. downgraded Centurylink from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $27.00 to $14.00 in a research note on Thursday, February 14th. Finally, Royal Bank of Canada downgraded Centurylink from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $24.00 to $15.00 in a research note on Wednesday, February 20th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. Centurylink has an average rating of “Hold” and an average price target of $16.75.

NYSE:CTL opened at $10.95 on Thursday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.69 and a current ratio of 0.71. Centurylink Inc has a 1 year low of $10.28 and a 1 year high of $24.20. The company has a market capitalization of $11.46 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 0.67 and a beta of 0.74.

Centurylink (NYSE:CTL) last released its earnings results on Wednesday, May 8th. The technology company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.07. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.71 billion. Centurylink had a positive return on equity of 6.89% and a negative net margin of 34.62%. The company’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. On average, equities analysts expect that Centurylink Inc will post 1.24 earnings per share for the current fiscal year.

In related news, Director Steven T. Clontz bought 8,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average price of $11.95 per share, with a total value of $95,600.00. Following the transaction, the director now owns 202,334 shares in the company, valued at approximately $2,417,891.30. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Harvey P. Perry bought 10,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were bought at an average cost of $10.92 per share, for a total transaction of $109,200.00. The disclosure for this purchase can be found here. In the last three months, insiders have bought 190,000 shares of company stock worth $2,212,330. Corporate insiders own 0.50% of the company’s stock.

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About Centurylink

CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers in the United States and internationally. The company operates in two segments, Business and Consumer. It offers VPN data network services; Ethernet services; Internet protocol (IP) services; facilities-based Prism TV service, as well as satellite digital television services; CDN services; and Vyvx broadcast services.

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Institutional Ownership by Quarter for Centurylink (NYSE:CTL)

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