Arrow Investment Advisors LLC boosted its stake in shares of Centurylink Inc (NYSE:CTL) by 15.2% during the 1st quarter, HoldingsChannel reports. The firm owned 25,038 shares of the technology company’s stock after buying an additional 3,312 shares during the quarter. Arrow Investment Advisors LLC’s holdings in Centurylink were worth $300,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTL. Macquarie Group Ltd. lifted its position in shares of Centurylink by 68.8% in the third quarter. Macquarie Group Ltd. now owns 36,800 shares of the technology company’s stock valued at $780,000 after acquiring an additional 15,000 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of Centurylink by 20.4% in the third quarter. Teachers Advisors LLC now owns 4,456,534 shares of the technology company’s stock valued at $94,479,000 after acquiring an additional 754,769 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Centurylink by 2.2% in the third quarter. TIAA CREF Investment Management LLC now owns 3,979,739 shares of the technology company’s stock valued at $84,370,000 after acquiring an additional 87,018 shares in the last quarter. Morgan Stanley lifted its position in shares of Centurylink by 8.2% in the third quarter. Morgan Stanley now owns 7,230,528 shares of the technology company’s stock valued at $153,286,000 after acquiring an additional 549,930 shares in the last quarter. Finally, Rehmann Capital Advisory Group lifted its position in shares of Centurylink by 41.3% in the third quarter. Rehmann Capital Advisory Group now owns 8,301 shares of the technology company’s stock valued at $176,000 after acquiring an additional 2,428 shares in the last quarter. Institutional investors own 75.35% of the company’s stock.
NYSE:CTL opened at $11.52 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $12.74 billion, a P/E ratio of 9.68, a PEG ratio of 0.74 and a beta of 0.74. Centurylink Inc has a 12 month low of $11.28 and a 12 month high of $24.20.
Centurylink (NYSE:CTL) last posted its earnings results on Wednesday, February 13th. The technology company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.78 billion. Centurylink had a positive return on equity of 5.68% and a negative net margin of 7.39%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 earnings per share. On average, equities research analysts anticipate that Centurylink Inc will post 1.24 EPS for the current year.
In related news, Director Steven T. Clontz acquired 8,000 shares of Centurylink stock in a transaction on Wednesday, March 6th. The shares were bought at an average cost of $11.95 per share, with a total value of $95,600.00. Following the completion of the purchase, the director now directly owns 202,334 shares of the company’s stock, valued at approximately $2,417,891.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey K. Storey acquired 83,000 shares of Centurylink stock in a transaction on Wednesday, March 6th. The shares were bought at an average cost of $11.94 per share, for a total transaction of $991,020.00. Following the completion of the purchase, the chief executive officer now directly owns 3,476,359 shares of the company’s stock, valued at $41,507,726.46. The disclosure for this purchase can be found here. Insiders purchased 143,000 shares of company stock worth $1,698,720 over the last quarter. 0.50% of the stock is owned by company insiders.
Several equities analysts have recently commented on the company. ValuEngine downgraded Centurylink from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 14th. Citigroup downgraded Centurylink from a “neutral” rating to a “sell” rating and set a $14.48 price objective on the stock. in a research report on Tuesday, February 5th. Zacks Investment Research downgraded Centurylink from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. Bank of America downgraded Centurylink from a “buy” rating to a “neutral” rating and set a $14.00 price objective on the stock. in a research report on Tuesday, February 26th. Finally, UBS Group downgraded Centurylink from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $24.00 to $14.00 in a research report on Thursday, February 14th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Centurylink currently has an average rating of “Hold” and an average target price of $16.75.
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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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