Insider Selling: Centurylink Inc (CTL) Director Sells $3,600,000.00 in Stock
Centurylink Inc (NYSE:CTL) Director Glen F. Post III sold 150,000 shares of the company’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 value of $3,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Glen F. Post III also recently made the following trade(s):
- On Monday, August 13th, Glen F. Post III sold 150,000 shares of Centurylink stock. The stock was sold at an average price of $22.00, for a total value of $3,300,000.00.
Shares of NYSE:CTL opened at $22.75 on Friday. Centurylink Inc has a 1 year low of $13.16 and a 1 year high of $24.20. The company has a market cap of $25.90 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of -15.06 and a beta of 0.80. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.98 and a current ratio of 0.98.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 31st will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, August 30th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 9.49%. Centurylink’s dividend payout ratio (DPR) is 146.94%.
Several large investors have recently made changes to their positions in the company. Ballew Advisors Inc acquired a new position in Centurylink in the 1st quarter valued at $101,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in Centurylink by 16,940.6% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,453 shares of the technology company’s stock valued at $102,000 after purchasing an additional 5,421 shares during the last quarter. Baker Ellis Asset Management LLC acquired a new position in Centurylink in the 2nd quarter valued at $110,000. AdvisorNet Financial Inc raised its stake in Centurylink by 118.4% in the 2nd quarter. AdvisorNet Financial Inc now owns 6,422 shares of the technology company’s stock valued at $120,000 after purchasing an additional 3,482 shares during the last quarter. Finally, Archford Capital Strategies LLC acquired a new position in Centurylink in the 1st quarter valued at $130,000. Hedge funds and other institutional investors own 78.42% of the company’s stock.
CTL has been the topic of several recent research reports. TheStreet upgraded Centurylink from a “c+” rating to a “b” rating in a research report on Friday, July 6th. Bank of America set a $27.00 price objective on Centurylink and gave the stock a “buy” rating in a research report on Wednesday, August 8th. ValuEngine upgraded Centurylink from a “hold” rating to a “buy” rating in a research report on Wednesday, August 15th. Jefferies Financial Group upgraded Centurylink from a “hold” rating to a “buy” rating in a research report on Tuesday, June 26th. Finally, Barclays restated a “hold” rating and issued a $21.00 price objective on shares of Centurylink in a research report on Friday, August 10th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Centurylink presently has a consensus rating of “Hold” and a consensus target price of $21.18.
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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