Stephens Inc. AR increased its position in Centurylink Inc (NYSE:CTL) by 23.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 565,926 shares of the technology company’s stock after acquiring an additional 108,321 shares during the quarter. Stephens Inc. AR owned about 0.05% of Centurylink worth $6,655,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Coastal Investment Advisors Inc. lifted its position in Centurylink by 563.7% during the second quarter. Coastal Investment Advisors Inc. now owns 2,197 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,866 shares during the last quarter. AGF Investments LLC bought a new stake in Centurylink during the second quarter valued at approximately $38,000. NEXT Financial Group Inc lifted its position in Centurylink by 279.8% during the second quarter. NEXT Financial Group Inc now owns 3,699 shares of the technology company’s stock valued at $44,000 after purchasing an additional 2,725 shares during the last quarter. Lindbrook Capital LLC lifted its position in Centurylink by 447.0% during the first quarter. Lindbrook Capital LLC now owns 4,409 shares of the technology company’s stock valued at $52,000 after purchasing an additional 3,603 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Centurylink by 89.3% during the first quarter. Quadrant Capital Group LLC now owns 6,387 shares of the technology company’s stock valued at $71,000 after purchasing an additional 3,013 shares during the last quarter. Institutional investors own 75.51% of the company’s stock.
Shares of CTL traded down $0.34 during mid-day trading on Thursday, reaching $10.95. The company’s stock had a trading volume of 211,965 shares, compared to its average volume of 12,442,137. The firm has a market capitalization of $12.17 billion, a PE ratio of 9.25, a PEG ratio of 0.96 and a beta of 0.85. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.71 and a current ratio of 0.60. Centurylink Inc has a 52 week low of $9.64 and a 52 week high of $24.20. The stock’s fifty day moving average price is $11.63.
In other news, CFO Indraneel Dev bought 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were bought at an average cost of $9.81 per share, with a total value of $147,150.00. Following the completion of the purchase, the chief financial officer now directly owns 471,053 shares in the company, valued at $4,621,029.93. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey K. Storey bought 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average cost of $9.83 per share, for a total transaction of $491,500.00. Following the completion of the purchase, the chief executive officer now owns 3,240,001 shares of the company’s stock, valued at $31,849,209.83. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 95,000 shares of company stock worth $941,550. 0.50% of the stock is owned by insiders.
A number of equities research analysts have recently weighed in on CTL shares. Wells Fargo & Co set a $14.00 price objective on shares of Centurylink and gave the stock a “buy” rating in a report on Monday. Citigroup upgraded shares of Centurylink from a “sell” rating to a “neutral” rating in a report on Thursday, May 9th. Guggenheim set a $10.00 price objective on shares of Centurylink and gave the stock a “hold” rating in a report on Wednesday, August 7th. Raymond James upgraded shares of Centurylink from an “underperform” rating to a “market perform” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lowered shares of Centurylink from a “neutral” rating to an “underweight” rating and set a $10.00 price objective for the company. in a report on Thursday, August 8th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $15.73.
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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