Centurylink Inc (CTL) is ACR Alpine Capital Research LLC’s 6th Largest Position
ACR Alpine Capital Research LLC lowered its position in Centurylink Inc (NYSE:CTL) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,059,559 shares of the technology company’s stock after selling 62,629 shares during the quarter. Centurylink accounts for approximately 6.1% of ACR Alpine Capital Research LLC’s holdings, making the stock its 6th biggest holding. ACR Alpine Capital Research LLC owned about 0.56% of Centurylink worth $112,950,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Barings LLC bought a new stake in shares of Centurylink in the 2nd quarter worth about $268,000. Sigma Planning Corp increased its position in shares of Centurylink by 132.8% in the 2nd quarter. Sigma Planning Corp now owns 70,336 shares of the technology company’s stock worth $1,311,000 after purchasing an additional 40,123 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its position in shares of Centurylink by 0.5% in the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 826,766 shares of the technology company’s stock worth $15,411,000 after purchasing an additional 4,225 shares during the last quarter. First Trust Advisors LP increased its position in shares of Centurylink by 8.8% in the 2nd quarter. First Trust Advisors LP now owns 3,365,895 shares of the technology company’s stock worth $62,740,000 after purchasing an additional 271,147 shares during the last quarter. Finally, TCW Group Inc. increased its position in shares of Centurylink by 202.8% in the 2nd quarter. TCW Group Inc. now owns 65,558 shares of the technology company’s stock worth $1,222,000 after purchasing an additional 43,905 shares during the last quarter. Hedge funds and other institutional investors own 78.74% of the company’s stock.
Shares of NYSE:CTL opened at $18.70 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.58. Centurylink Inc has a fifty-two week low of $13.16 and a fifty-two week high of $22.64. The stock has a market cap of $20.31 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of -13.52 and a beta of 0.80.
In other Centurylink news, Director Steven T. Clontz acquired 41,000 shares of the stock in a transaction that occurred on Friday, May 11th. The stock was acquired at an average price of $19.44 per share, with a total value of $797,040.00. Following the transaction, the director now directly owns 162,019 shares in the company, valued at $3,149,649.36. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.60% of the stock is owned by corporate insiders.
Several equities research analysts have recently weighed in on CTL shares. Jefferies Financial Group raised shares of Centurylink from a “hold” rating to a “buy” rating in a research report on Tuesday, June 26th. TheStreet raised shares of Centurylink from a “c+” rating to a “b” rating in a research report on Friday, July 6th. Bank of America reissued a “buy” rating and issued a $27.00 target price on shares of Centurylink in a research report on Wednesday, May 16th. Macquarie downgraded shares of Centurylink from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $27.61 to $18.00 in a research report on Wednesday, May 16th. Finally, ValuEngine downgraded shares of Centurylink from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $21.00.
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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