Jolley Asset Management LLC Has $429,000 Holdings in Centurylink Inc (CTL)
Jolley Asset Management LLC boosted its stake in shares of Centurylink Inc (NYSE:CTL) by 2,348.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 25,706 shares of the technology company’s stock after purchasing an additional 24,656 shares during the period. Jolley Asset Management LLC’s holdings in Centurylink were worth $429,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Fieldpoint Private Securities LLC acquired a new stake in Centurylink during the 3rd quarter worth about $115,000. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Centurylink by 178.6% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,684 shares of the technology company’s stock worth $134,000 after acquiring an additional 4,285 shares in the last quarter. Blue Granite Capital LLC purchased a new stake in shares of Centurylink during the 3rd quarter worth about $136,000. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Centurylink by 10,329.0% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,196 shares of the technology company’s stock worth $136,000 after acquiring an additional 7,127 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Centurylink during the 2nd quarter worth about $197,000. 42.06% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on CTL shares. Jefferies Group lowered their target price on shares of Centurylink to $17.00 and set a “hold” rating on the stock in a research note on Thursday, November 9th. Oppenheimer lowered their target price on shares of Centurylink from $28.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, November 10th. Goldman Sachs Group raised shares of Centurylink from a “sell” rating to a “neutral” rating and set a $19.00 target price on the stock in a research note on Monday, January 8th. Deutsche Bank reissued a “hold” rating and set a $16.00 target price on shares of Centurylink in a research note on Thursday, November 9th. Finally, Zacks Investment Research raised shares of Centurylink from a “sell” rating to a “hold” rating in a research note on Friday, October 13th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $22.37.
Centurylink (NYSE:CTL) last issued its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.03). The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Centurylink had a net margin of 1.89% and a return on equity of 7.99%. The company’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 earnings per share. equities analysts anticipate that Centurylink Inc will post 1.56 EPS for the current fiscal year.
In related news, Vice Chairman William Bruce Hanks purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were purchased at an average cost of $14.41 per share, with a total value of $144,100.00. Following the purchase, the insider now owns 58,722 shares of the company’s stock, valued at approximately $846,184.02. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey K. Storey purchased 71,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was bought at an average cost of $14.30 per share, for a total transaction of $1,015,300.00. Following the completion of the purchase, the chief operating officer now directly owns 2,498,668 shares in the company, valued at approximately $35,730,952.40. The disclosure for this purchase can be found here. Insiders purchased a total of 150,595 shares of company stock worth $2,154,131 over the last ninety days. 0.61% of the stock is currently owned by corporate insiders.
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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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