Crow Point Partners LLC acquired a new stake in shares of CenturyLink, Inc. (NYSE:CTL) during the third quarter, Holdings Channel reports. The firm acquired 473,876 shares of the company’s stock, valued at approximately $12,998,000. CenturyLink accounts for about 2.0% of Crow Point Partners LLC’s investment portfolio, making the stock its 18th largest position.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its position in CenturyLink by 68.0% in the third quarter. Ameriprise Financial Inc. now owns 9,404,407 shares of the company’s stock valued at $257,941,000 after buying an additional 3,805,189 shares during the period. BlackRock Fund Advisors raised its position in CenturyLink by 8.9% in the second quarter. BlackRock Fund Advisors now owns 16,106,122 shares of the company’s stock valued at $467,239,000 after buying an additional 1,311,134 shares during the period. The Manufacturers Life Insurance Company bought a new position in CenturyLink during the third quarter valued at approximately $24,836,000. O Shaughnessy Asset Management LLC raised its position in CenturyLink by 22.8% in the second quarter. O Shaughnessy Asset Management LLC now owns 4,600,303 shares of the company’s stock valued at $121,058,000 after buying an additional 852,803 shares during the period. Finally, Bank of New York Mellon Corp raised its position in CenturyLink by 3.0% in the third quarter. Bank of New York Mellon Corp now owns 19,976,243 shares of the company’s stock valued at $547,948,000 after buying an additional 573,040 shares during the period. 73.98% of the stock is currently owned by institutional investors.
CenturyLink, Inc. (NYSE:CTL) opened at 24.49 on Monday. The firm has a market capitalization of $13.22 billion, a P/E ratio of 21.11 and a beta of 0.83. CenturyLink, Inc. has a 1-year low of $22.86 and a 1-year high of $33.45. The company has a 50-day moving average price of $25.15 and a 200-day moving average price of $26.57.
CenturyLink (NYSE:CTL) last issued its quarterly earnings data on Wednesday, February 8th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.02. CenturyLink had a return on equity of 9.58% and a net margin of 3.58%. The company had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.32 billion. During the same period in the prior year, the company earned $0.80 EPS. The firm’s revenue was down 4.2% on a year-over-year basis. On average, equities research analysts predict that CenturyLink, Inc. will post $2.18 earnings per share for the current fiscal year.
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CTL has been the topic of several research reports. Vetr lowered CenturyLink from a “strong-buy” rating to a “buy” rating and set a $27.84 price objective on the stock. in a research report on Tuesday, January 17th. Zacks Investment Research lowered CenturyLink from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 5th. Jefferies Group LLC reissued a “sell” rating and issued a $20.00 price objective (down from $24.00) on shares of CenturyLink in a research report on Tuesday, November 1st. J P Morgan Chase & Co raised CenturyLink from a “neutral” rating to an “overweight” rating and set a $28.00 price objective on the stock in a research report on Tuesday, January 3rd. Finally, Raymond James Financial, Inc. lowered CenturyLink from an “outperform” rating to a “market perform” rating in a research report on Friday, October 28th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. CenturyLink has an average rating of “Hold” and an average price target of $28.63.
CenturyLink, Inc is a United States-based integrated communications company, which is engaged in providing a range of communications services to its residential and business customers. The Company operates through two segments: Business, which includes provision of strategic, legacy and data integration products and services to small, medium and enterprise business, wholesale and governmental customers, including other communication providers, and Consumer, which includes provision of strategic and legacy products and services to residential customers.
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