Oppenheimer Asset Management Inc. Has $41.76 Million Holdings in Centurylink Inc (CTL)

Oppenheimer Asset Management Inc. raised its position in Centurylink Inc (NYSE:CTL) by 48.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 3,482,962 shares of the technology company’s stock after purchasing an additional 1,138,049 shares during the period. Centurylink accounts for 0.9% of Oppenheimer Asset Management Inc.’s holdings, making the stock its 13th biggest position. Oppenheimer Asset Management Inc.’s holdings in Centurylink were worth $41,761,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CTL. Norges Bank purchased a new stake in shares of Centurylink during the 4th quarter worth approximately $120,981,000. Oregon Public Employees Retirement Fund boosted its holdings in Centurylink by 2,975.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,281,402 shares of the technology company’s stock worth $415,000 after buying an additional 6,077,131 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Centurylink by 12.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,763,545 shares of the technology company’s stock worth $223,688,000 after buying an additional 1,587,647 shares during the period. Millennium Management LLC boosted its holdings in Centurylink by 29.8% in the 4th quarter. Millennium Management LLC now owns 5,762,976 shares of the technology company’s stock worth $87,309,000 after buying an additional 1,323,554 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Centurylink by 9.2% in the 4th quarter. Geode Capital Management LLC now owns 13,305,449 shares of the technology company’s stock worth $201,523,000 after buying an additional 1,119,125 shares during the period. Hedge funds and other institutional investors own 76.05% of the company’s stock.

In other Centurylink news, CEO Jeffrey K. Storey acquired 83,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average price of $11.94 per share, with a total value of $991,020.00. Following the completion of the purchase, the chief executive officer now directly owns 3,476,359 shares of the company’s stock, valued at approximately $41,507,726.46. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Indraneel Dev acquired 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average cost of $11.75 per share, for a total transaction of $587,500.00. Following the purchase, the chief financial officer now directly owns 459,153 shares of the company’s stock, valued at $5,395,047.75. The disclosure for this purchase can be found here. Insiders have bought a total of 143,000 shares of company stock worth $1,698,720 in the last ninety days. Insiders own 0.60% of the company’s stock.

Shares of CTL traded down $0.28 during trading hours on Wednesday, reaching $11.59. 11,730,757 shares of the company traded hands, compared to its average volume of 15,778,102. The firm has a market capitalization of $12.97 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 0.77 and a beta of 0.77. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.79. Centurylink Inc has a 12 month low of $11.51 and a 12 month high of $24.20.

Centurylink (NYSE:CTL) last announced its earnings results on Wednesday, February 13th. The technology company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.78 billion. Centurylink had a negative net margin of 7.39% and a positive return on equity of 5.68%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 EPS. On average, research analysts forecast that Centurylink Inc will post 1.24 EPS for the current fiscal year.

Several research analysts have commented on CTL shares. UBS Group downgraded shares of Centurylink from a “buy” rating to a “neutral” rating and cut their price target for the company from $24.00 to $14.00 in a report on Thursday, February 14th. ValuEngine downgraded shares of Centurylink from a “sell” rating to a “strong sell” rating in a report on Thursday, February 14th. TheStreet downgraded shares of Centurylink from a “b-” rating to a “c+” rating in a report on Friday, January 4th. Edward Jones downgraded shares of Centurylink to a “sell” rating in a report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. downgraded shares of Centurylink from an “overweight” rating to a “neutral” rating and cut their price target for the company from $27.00 to $14.00 in a report on Thursday, February 14th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $16.75.

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Centurylink Profile

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.

See Also: Fundamental Analysis

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Institutional Ownership by Quarter for Centurylink (NYSE:CTL)

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