Gabelli Funds LLC trimmed its holdings in Centurylink Inc (NYSE:CTL) by 7.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,714,178 shares of the technology company’s stock after selling 148,042 shares during the quarter. Gabelli Funds LLC owned about 0.16% of Centurylink worth $36,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in CTL. Migdal Insurance & Financial Holdings Ltd. raised its stake in Centurylink by 16,940.6% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,453 shares of the technology company’s stock worth $102,000 after buying an additional 5,421 shares during the period. Rehmann Capital Advisory Group raised its stake in Centurylink by 210.7% during the 2nd quarter. Rehmann Capital Advisory Group now owns 5,873 shares of the technology company’s stock worth $109,000 after buying an additional 3,983 shares during the period. Baker Ellis Asset Management LLC acquired a new position in Centurylink during the 2nd quarter worth approximately $110,000. AdvisorNet Financial Inc raised its stake in Centurylink by 118.4% during the 2nd quarter. AdvisorNet Financial Inc now owns 6,422 shares of the technology company’s stock worth $120,000 after buying an additional 3,482 shares during the period. Finally, Greenleaf Trust acquired a new position in Centurylink during the 3rd quarter worth approximately $205,000. 76.84% of the stock is currently owned by institutional investors.
Shares of CTL opened at $21.15 on Wednesday. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market cap of $22.66 billion, a price-to-earnings ratio of 18.89, a P/E/G ratio of -13.05 and a beta of 0.76. Centurylink Inc has a 52 week low of $13.16 and a 52 week high of $24.20.
Centurylink (NYSE:CTL) last issued its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $5.90 billion during the quarter, compared to analyst estimates of $5.92 billion. Centurylink had a return on equity of 4.50% and a net margin of 7.62%. The company’s revenue for the quarter was up 44.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 EPS. Analysts expect that Centurylink Inc will post 1.07 EPS for the current year.
CTL has been the topic of a number of research reports. Zacks Investment Research downgraded Centurylink from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 24th. Bank of America set a $27.00 price target on Centurylink and gave the stock a “buy” rating in a research note on Wednesday, August 8th. Citigroup upped their price target on Centurylink from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, August 9th. Barclays reaffirmed a “hold” rating and set a $21.00 price target on shares of Centurylink in a research note on Friday, August 10th. Finally, Morgan Stanley upped their price target on Centurylink from $21.60 to $25.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 15th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.12.
In other Centurylink news, Director Glen F. Post III sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $24.00, for a total transaction of $3,600,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.60% of the company’s stock.
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Centurylink Company Profile
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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