CenturyLink, Inc. (CTL) Shares Sold by Stoneridge Investment Partners LLC
Stoneridge Investment Partners LLC cut its position in shares of CenturyLink, Inc. (NYSE:CTL) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 77,574 shares of the technology company’s stock after selling 142 shares during the period. Stoneridge Investment Partners LLC’s holdings in CenturyLink were worth $1,852,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the stock. Parkwood LLC raised its position in shares of CenturyLink by 26.0% in the first quarter. Parkwood LLC now owns 53,087 shares of the technology company’s stock worth $1,251,000 after buying an additional 10,949 shares during the period. First Manhattan Co. raised its position in shares of CenturyLink by 1.8% in the first quarter. First Manhattan Co. now owns 37,218 shares of the technology company’s stock worth $1,020,000 after buying an additional 645 shares during the period. Macquarie Group Ltd. raised its position in shares of CenturyLink by 69.8% in the fourth quarter. Macquarie Group Ltd. now owns 44,100 shares of the technology company’s stock worth $1,049,000 after buying an additional 18,124 shares during the period. Vanguard Group Inc. raised its position in shares of CenturyLink by 19.4% in the first quarter. Vanguard Group Inc. now owns 46,767,917 shares of the technology company’s stock worth $1,102,321,000 after buying an additional 7,600,609 shares during the period. Finally, Wellington Shields & Co. LLC raised its position in shares of CenturyLink by 1.1% in the second quarter. Wellington Shields & Co. LLC now owns 9,202 shares of the technology company’s stock worth $220,000 after buying an additional 99 shares during the period. Institutional investors own 78.04% of the company’s stock.
Shares of CenturyLink, Inc. (NYSE:CTL) opened at 21.82 on Thursday. The stock has a market cap of $11.81 billion, a P/E ratio of 31.62 and a beta of 0.87. CenturyLink, Inc. has a 1-year low of $21.61 and a 1-year high of $33.45. The company’s 50-day moving average is $23.33 and its 200 day moving average is $24.37. CenturyLink also was the target of unusually large options trading activity on Tuesday. Traders purchased 20,516 call options on the stock. This is an increase of 363% compared to the average daily volume of 4,432 call options.
CenturyLink (NYSE:CTL) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.09 billion. CenturyLink had a return on equity of 8.43% and a net margin of 2.20%. CenturyLink’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. Equities research analysts anticipate that CenturyLink, Inc. will post $1.95 EPS for the current year.
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CTL has been the topic of a number of research analyst reports. Vetr upgraded shares of CenturyLink from a “buy” rating to a “strong-buy” rating and set a $27.12 price target on the stock in a report on Monday, May 8th. Zacks Investment Research upgraded shares of CenturyLink from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Wednesday, April 26th. Cowen and Company lifted their target price on shares of CenturyLink from $25.00 to $27.00 and gave the company a “market perform” rating in a report on Wednesday, July 5th. BidaskClub upgraded shares of CenturyLink from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Finally, Raymond James Financial, Inc. restated an “underperform” rating on shares of CenturyLink in a report on Monday, May 15th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. CenturyLink currently has an average rating of “Hold” and an average price target of $26.22.
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to its residential and business customers. Its segments include business, which provides strategic, legacy and data integration products and services to small, medium and enterprise business, wholesale and governmental customers, including other communication providers, and consumer, which provides strategic and legacy products and services to residential customers.
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