Prospera Financial Services Inc acquired a new stake in Centurylink Inc (NYSE:CTL) in the second quarter, HoldingsChannel.com reports. The fund acquired 19,942 shares of the technology company’s stock, valued at approximately $380,000.

Other institutional investors have also recently made changes to their positions in the company. Ballew Advisors Inc acquired a new stake in Centurylink in the first quarter valued at approximately $101,000. Archford Capital Strategies LLC acquired a new stake in Centurylink in the first quarter valued at approximately $130,000. Bedel Financial Consulting Inc. acquired a new stake in Centurylink in the first quarter valued at approximately $136,000. Private Capital Group LLC grew its stake in Centurylink by 295.1% in the first quarter. Private Capital Group LLC now owns 8,783 shares of the technology company’s stock valued at $144,000 after acquiring an additional 6,560 shares during the period. Finally, Fairfield Bush & CO. acquired a new stake in Centurylink in the first quarter valued at approximately $150,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

CTL has been the subject of a number of research reports. TheStreet raised Centurylink from a “c+” rating to a “b” rating in a research note on Friday, July 6th. Jefferies Financial Group raised Centurylink from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. Bank of America reissued a “buy” rating and issued a $27.00 price objective on shares of Centurylink in a research note on Wednesday, May 16th. ValuEngine cut Centurylink from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Macquarie cut Centurylink from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $27.61 to $18.00 in a research note on Wednesday, May 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. Centurylink currently has a consensus rating of “Hold” and a consensus target price of $21.00.

Shares of Centurylink opened at $18.76 on Friday, MarketBeat.com reports. The company has a market cap of $20.24 billion, a P/E ratio of 12.76, a P/E/G ratio of -13.47 and a beta of 0.79. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.88 and a current ratio of 0.88. Centurylink Inc has a 12-month low of $13.16 and a 12-month high of $23.78.

Centurylink (NYSE:CTL) last announced its earnings results on Wednesday, May 9th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.06. The company had revenue of $5.95 billion for the quarter, compared to analysts’ expectations of $5.97 billion. Centurylink had a return on equity of 4.94% and a net margin of 6.92%. Centurylink’s quarterly revenue was up 41.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 earnings per share. research analysts predict that Centurylink Inc will post 0.93 earnings per share for the current fiscal year.

In related news, Director Steven T. Clontz bought 41,000 shares of the business’s stock in a transaction that occurred on Friday, May 11th. The shares were bought at an average price of $19.44 per share, with a total value of $797,040.00. Following the completion of the transaction, the director now directly owns 162,019 shares in the company, valued at $3,149,649.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is owned by insiders.

About Centurylink

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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Institutional Ownership by Quarter for Centurylink (NYSE:CTL)

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