Wedbush Securities Inc. Buys 14,067 Shares of Centurylink Inc (NYSE:CTL)

Wedbush Securities Inc. boosted its stake in Centurylink Inc (NYSE:CTL) by 23.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,641 shares of the technology company’s stock after purchasing an additional 14,067 shares during the period. Wedbush Securities Inc.’s holdings in Centurylink were worth $866,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CTL. AGF Investments LLC bought a new position in Centurylink in the 2nd quarter valued at approximately $38,000. NEXT Financial Group Inc lifted its stake in Centurylink by 279.8% in the 2nd quarter. NEXT Financial Group Inc now owns 3,699 shares of the technology company’s stock valued at $44,000 after purchasing an additional 2,725 shares during the last quarter. Lindbrook Capital LLC lifted its stake in Centurylink by 447.0% in the 1st quarter. Lindbrook Capital LLC now owns 4,409 shares of the technology company’s stock valued at $52,000 after purchasing an additional 3,603 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in Centurylink by 89.3% in the 1st quarter. Quadrant Capital Group LLC now owns 6,387 shares of the technology company’s stock valued at $71,000 after purchasing an additional 3,013 shares during the last quarter. Finally, Penserra Capital Management LLC increased its position in Centurylink by 308.0% in the 1st quarter. Penserra Capital Management LLC now owns 7,344 shares of the technology company’s stock valued at $88,000 after acquiring an additional 5,544 shares during the period. 75.51% of the stock is owned by institutional investors and hedge funds.

Several brokerages have issued reports on CTL. JPMorgan Chase & Co. cut shares of Centurylink from a “neutral” rating to an “underweight” rating and set a $10.00 price target for the company. in a research report on Thursday, August 8th. Wells Fargo & Co set a $14.00 price objective on shares of Centurylink and gave the stock a “buy” rating in a research report on Monday. Guggenheim set a $10.00 price objective on shares of Centurylink and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Citigroup upgraded shares of Centurylink from a “sell” rating to a “neutral” rating in a research report on Thursday, May 9th. Finally, Raymond James upgraded shares of Centurylink from an “underperform” rating to a “market perform” rating in a research report on Thursday, August 8th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. Centurylink presently has an average rating of “Hold” and an average target price of $15.73.

In other Centurylink news, insider William Bruce Hanks bought 10,000 shares of Centurylink stock in a transaction dated Thursday, May 30th. The stock was purchased at an average price of $10.63 per share, for a total transaction of $106,300.00. Following the completion of the purchase, the insider now directly owns 92,172 shares of the company’s stock, valued at $979,788.36. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Indraneel Dev bought 15,000 shares of Centurylink stock in a transaction dated Thursday, May 23rd. The stock was acquired at an average price of $9.81 per share, with a total value of $147,150.00. Following the purchase, the chief financial officer now directly owns 471,053 shares of the company’s stock, valued at $4,621,029.93. The disclosure for this purchase can be found here. Insiders bought 95,000 shares of company stock valued at $941,550 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

Shares of CTL traded down $0.15 during trading hours on Thursday, hitting $11.14. The company’s stock had a trading volume of 96,044 shares, compared to its average volume of 12,442,137. The company has a market cap of $12.17 billion, a P/E ratio of 9.40, a price-to-earnings-growth ratio of 0.96 and a beta of 0.85. The company has a current ratio of 0.60, a quick ratio of 0.71 and a debt-to-equity ratio of 2.42. The company has a 50 day moving average price of $11.63. Centurylink Inc has a 52-week low of $9.64 and a 52-week high of $24.20.

Centurylink (NYSE:CTL) last posted its earnings results on Wednesday, August 7th. The technology company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. The firm had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.59 billion. Centurylink had a negative net margin of 34.77% and a positive return on equity of 8.30%. The company’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the company earned $0.27 earnings per share. As a group, sell-side analysts anticipate that Centurylink Inc will post 1.33 EPS for the current year.

Centurylink Company Profile

CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers in the United States and internationally. The company operates in two segments, Business and Consumer. It offers VPN data network services; Ethernet services; Internet protocol (IP) services; facilities-based Prism TV service, as well as satellite digital television services; CDN services; and Vyvx broadcast services.

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Institutional Ownership by Quarter for Centurylink (NYSE:CTL)

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