CenturyLink Inc. (CTL) Shares Gap Up Following Insider Buying Activity
CenturyLink Inc. (NYSE:CTL) gapped up before the market opened on Monday following insider buying activity. The stock had previously closed at $23.17, but opened at $23.80. CenturyLink shares last traded at $24.31, with a volume of 12,284,168 shares.
Specifically, EVP Aamir Hussain bought 14,580 shares of the stock in a transaction on Thursday, November 10th. The shares were purchased at an average price of $24.00 per share, with a total value of $349,920.00. Following the acquisition, the executive vice president now directly owns 179,075 shares of the company’s stock, valued at approximately $4,297,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William Arthur Owens bought 42,800 shares of the stock in a transaction on Monday, November 7th. The stock was acquired at an average cost of $23.35 per share, for a total transaction of $999,380.00. Following the acquisition, the director now directly owns 95,275 shares in the company, valued at $2,224,671.25. The disclosure for this purchase can be found here. 0.61% of the stock is owned by company insiders.
CTL has been the topic of a number of research analyst reports. Zacks Investment Research lowered CenturyLink from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Vetr raised CenturyLink from a “hold” rating to a “buy” rating and set a $29.33 target price on the stock in a report on Wednesday, August 31st. Jefferies Group reaffirmed a “sell” rating on shares of CenturyLink in a report on Friday, September 2nd. Royal Bank Of Canada raised their target price on CenturyLink from $29.00 to $31.00 and gave the company a “sector perform” rating in a report on Monday, August 8th. Finally, Raymond James Financial Inc. lowered CenturyLink from an “outperform” rating to a “market perform” rating in a report on Friday, October 28th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. CenturyLink presently has a consensus rating of “Hold” and an average target price of $28.26.
The firm has a market capitalization of $13.51 billion, a PE ratio of 14.57 and a beta of 0.84. The stock’s 50-day moving average is $26.83 and its 200 day moving average is $28.29.
CenturyLink (NYSE:CTL) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.01. The firm had revenue of $4.38 billion for the quarter. CenturyLink had a return on equity of 10.48% and a net margin of 5.22%. CenturyLink’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 EPS. Analysts expect that CenturyLink Inc. will post $2.48 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Monday, November 28th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 8.74%. CenturyLink’s dividend payout ratio is 127.06%.
Several institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP increased its position in CenturyLink by 687.6% in the first quarter. Wellington Management Group LLP now owns 375,065 shares of the company’s stock valued at $11,986,000 after buying an additional 327,445 shares during the last quarter. Legal & General Group Plc increased its position in CenturyLink by 2.4% in the first quarter. Legal & General Group Plc now owns 3,221,967 shares of the company’s stock valued at $102,996,000 after buying an additional 73,986 shares during the last quarter. Envestnet Asset Management Inc. increased its position in CenturyLink by 21.0% in the first quarter. Envestnet Asset Management Inc. now owns 66,764 shares of the company’s stock valued at $2,134,000 after buying an additional 11,584 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in CenturyLink during the first quarter valued at approximately $1,512,000. Finally, Springbok Capital Management LLC purchased a new position in CenturyLink during the first quarter valued at approximately $340,000. 73.62% of the stock is currently owned by institutional investors.
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to residential and business customers. The Company’s segments include Business and Consumer. Its communications services include local and long-distance voice, high-speed Internet, Multi-Protocol Label Switching (MPLS), private line (including special access), data integration, Ethernet, colocation, managed hosting (including cloud hosting), network, public access, video, wireless and other ancillary services.
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