Level Four Advisory Services LLC Reduces Position in CenturyLink, Inc. (CTL)
Level Four Advisory Services LLC lessened its stake in CenturyLink, Inc. (NYSE:CTL) by 45.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 23,845 shares of the technology company’s stock after selling 20,174 shares during the period. Level Four Advisory Services LLC’s holdings in CenturyLink were worth $577,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Frontier Investment Mgmt Co. increased its holdings in CenturyLink by 9.1% in the 2nd quarter. Frontier Investment Mgmt Co. now owns 152,277 shares of the technology company’s stock valued at $3,636,000 after purchasing an additional 12,744 shares during the last quarter. W. E. Donoghue & Co. LLC acquired a new stake in CenturyLink in the 2nd quarter valued at approximately $14,884,000. Intl Fcstone Inc. acquired a new stake in CenturyLink in the 2nd quarter valued at approximately $404,000. Lord Abbett & CO. LLC increased its holdings in CenturyLink by 26.4% in the 2nd quarter. Lord Abbett & CO. LLC now owns 206,400 shares of the technology company’s stock valued at $4,929,000 after purchasing an additional 43,100 shares during the last quarter. Finally, Sentry Investment Management LLC increased its holdings in CenturyLink by 0.5% in the 2nd quarter. Sentry Investment Management LLC now owns 37,917 shares of the technology company’s stock valued at $905,000 after purchasing an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 82.95% of the company’s stock.
CenturyLink, Inc. (NYSE CTL) traded down 1.341% during midday trading on Tuesday, hitting $19.495. 4,777,251 shares of the stock traded hands. CenturyLink, Inc. has a one year low of $18.17 and a one year high of $33.45. The company’s 50-day moving average is $19.43 and its 200-day moving average is $22.88. The company has a market cap of $10.71 billion, a PE ratio of 28.254 and a beta of 0.89.
CenturyLink (NYSE:CTL) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.03). The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.09 billion. CenturyLink had a return on equity of 8.43% and a net margin of 2.20%. CenturyLink’s revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 EPS. Equities research analysts expect that CenturyLink, Inc. will post $1.94 EPS for the current fiscal year.
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Several research firms recently weighed in on CTL. UBS AG set a $29.00 target price on shares of CenturyLink and gave the company a “buy” rating in a report on Thursday, June 22nd. BidaskClub downgraded shares of CenturyLink from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Deutsche Bank AG dropped their target price on shares of CenturyLink from $23.00 to $20.00 and set a “hold” rating for the company in a report on Tuesday, October 10th. Jefferies Group LLC reiterated a “hold” rating and issued a $22.00 target price on shares of CenturyLink in a report on Tuesday, October 3rd. Finally, Barclays PLC dropped their target price on shares of CenturyLink from $23.00 to $19.00 and set an “underweight” rating for the company in a report on Wednesday, October 4th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $25.15.
CenturyLink Company Profile
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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