Insider Buying: Centurylink Inc (CTL) Director Purchases 37,000 Shares of Stock

Centurylink Inc (NYSE:CTL) Director Steven T. Clontz purchased 37,000 shares of the stock in a transaction dated Friday, May 10th. The stock was purchased at an average cost of $10.93 per share, for a total transaction of $404,410.00. Following the completion of the purchase, the director now directly owns 227,334 shares of the company’s stock, valued at $2,484,760.62. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Shares of Centurylink stock opened at $11.00 on Wednesday. Centurylink Inc has a one year low of $10.28 and a one year high of $24.20. The company has a market cap of $11.64 billion, a P/E ratio of 9.24, a P/E/G ratio of 0.68 and a beta of 0.74. The company has a current ratio of 0.71, a quick ratio of 0.69 and a debt-to-equity ratio of 2.57.

Centurylink (NYSE:CTL) last announced its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.07. Centurylink had a positive return on equity of 6.89% and a negative net margin of 34.62%. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter last year, the business posted $0.25 earnings per share. The firm’s revenue was down 5.0% compared to the same quarter last year. On average, research analysts predict that Centurylink Inc will post 1.26 earnings per share for the current year.



Institutional investors have recently made changes to their positions in the stock. Millennium Management LLC lifted its position in Centurylink by 29.8% during the fourth 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 in the last quarter. Thomasville National Bank raised its position in Centurylink by 5.6% in the fourth quarter. Thomasville National Bank now owns 46,265 shares of the technology company’s stock valued at $701,000 after purchasing an additional 2,440 shares during the period. Commerzbank Aktiengesellschaft FI raised its position in Centurylink by 18.0% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 1,128,258 shares of the technology company’s stock valued at $17,093,000 after purchasing an additional 171,941 shares during the period. Savant Capital LLC raised its position in Centurylink by 21.5% in the fourth quarter. Savant Capital LLC now owns 18,201 shares of the technology company’s stock valued at $276,000 after purchasing an additional 3,220 shares during the period. Finally, Burns J W & Co. Inc. NY raised its position in Centurylink by 19.8% in the fourth quarter. Burns J W & Co. Inc. NY now owns 30,297 shares of the technology company’s stock valued at $459,000 after purchasing an additional 5,000 shares during the period. Hedge funds and other institutional investors own 75.70% of the company’s stock.

A number of analysts have recently issued reports on CTL shares. Citigroup lowered Centurylink from a “neutral” rating to a “sell” rating and set a $14.48 price target on the stock. in a research note on Tuesday, February 5th. Guggenheim lowered Centurylink from a “neutral” rating to a “sell” rating and set a $11.00 price target on the stock. in a research note on Thursday, January 24th. Bank of America lowered Centurylink from a “buy” rating to a “neutral” rating and set a $14.00 price target on the stock. in a research note on Tuesday, February 26th. Moffett Nathanson raised Centurylink from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $16.00 to $12.00 in a research note on Tuesday, February 19th. Finally, ValuEngine lowered Centurylink from a “sell” rating to a “strong sell” rating in a research note on Thursday, February 14th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $16.75.

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Centurylink Company 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: Retained Earnings

Insider Buying and Selling by Quarter for Centurylink (NYSE:CTL)

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