Centurylink Inc (CTL) Position Decreased by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC cut its stake in shares of Centurylink Inc (NYSE:CTL) by 13.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,463 shares of the technology company’s stock after selling 13,566 shares during the period. Gateway Investment Advisers LLC’s holdings in Centurylink were worth $1,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. Thrivent Financial for Lutherans raised its holdings in shares of Centurylink by 1.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 42,911 shares of the technology company’s stock worth $650,000 after buying an additional 757 shares during the period. Moody National Bank Trust Division raised its holdings in shares of Centurylink by 3.5% in the fourth quarter. Moody National Bank Trust Division now owns 23,572 shares of the technology company’s stock worth $357,000 after buying an additional 797 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in Centurylink by 34.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 3,513 shares of the technology company’s stock worth $53,000 after purchasing an additional 904 shares during the period. Kovack Advisors Inc. increased its holdings in Centurylink by 8.3% during the 4th quarter. Kovack Advisors Inc. now owns 12,049 shares of the technology company’s stock worth $183,000 after purchasing an additional 927 shares during the period. Finally, Federated Investors Inc. PA increased its holdings in Centurylink by 6.3% during the 3rd quarter. Federated Investors Inc. PA now owns 17,630 shares of the technology company’s stock worth $374,000 after purchasing an additional 1,050 shares during the period. Institutional investors and hedge funds own 75.70% of the company’s stock.

CTL has been the topic of several research reports. Citigroup downgraded Centurylink from a “neutral” rating to a “sell” rating and set a $14.48 price objective on the stock. in a report on Tuesday, February 5th. Guggenheim downgraded Centurylink from a “neutral” rating to a “sell” rating and set a $11.00 price objective on the stock. in a report on Thursday, January 24th. Bank of America downgraded Centurylink from a “buy” rating to a “neutral” rating and set a $14.00 price objective on the stock. in a report on Tuesday, February 26th. Moffett Nathanson raised Centurylink from a “sell” rating to a “neutral” rating and dropped their target price for the company from $16.00 to $12.00 in a research report on Tuesday, February 19th. Finally, ValuEngine cut Centurylink from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 14th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. Centurylink presently has an average rating of “Hold” and an average target price of $16.75.

Shares of Centurylink stock traded down $0.57 during trading on Thursday, reaching $10.86. The company’s stock had a trading volume of 26,547,853 shares, compared to its average volume of 15,255,984. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $12.52 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 0.74 and a beta of 0.74. Centurylink Inc has a 1-year low of $11.28 and a 1-year high of $24.20.

Centurylink (NYSE:CTL) last posted its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.07. The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Centurylink had a positive return on equity of 5.68% and a negative net margin of 7.39%. The business’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 EPS. On average, equities research analysts anticipate that Centurylink Inc will post 1.24 earnings per share for the current fiscal year.

In other Centurylink news, CEO Jeffrey K. Storey acquired 83,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average price of $11.94 per share, with a total value of $991,020.00. Following the transaction, the chief executive officer now directly owns 3,476,359 shares of the company’s stock, valued at $41,507,726.46. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Indraneel Dev acquired 50,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average cost of $11.75 per share, with a total value of $587,500.00. Following the transaction, the chief financial officer now directly owns 459,153 shares in the company, valued at $5,395,047.75. The disclosure for this purchase can be found here. Insiders bought a total of 143,000 shares of company stock valued at $1,698,720 in the last three months. Insiders own 0.50% of the company’s stock.

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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.

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Institutional Ownership by Quarter for Centurylink (NYSE:CTL)

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