Nissay Asset Management Corp Japan ADV boosted its holdings in Centurylink Inc (NYSE:CTL) by 90.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 136,018 shares of the technology company’s stock after buying an additional 64,573 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Centurylink were worth $2,884,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of CTL. Migdal Insurance & Financial Holdings Ltd. increased its stake in Centurylink by 16,940.6% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,453 shares of the technology company’s stock worth $102,000 after buying an additional 5,421 shares in the last quarter. Rehmann Capital Advisory Group boosted its holdings in shares of Centurylink by 210.7% during the 2nd quarter. Rehmann Capital Advisory Group now owns 5,873 shares of the technology company’s stock valued at $109,000 after purchasing an additional 3,983 shares during the last quarter. Baker Ellis Asset Management LLC bought a new position in shares of Centurylink during the 2nd quarter valued at about $110,000. AdvisorNet Financial Inc boosted its holdings in shares of Centurylink by 118.4% during the 2nd quarter. AdvisorNet Financial Inc now owns 6,422 shares of the technology company’s stock valued at $120,000 after purchasing an additional 3,482 shares during the last quarter. Finally, Bristol Advisors LLC bought a new position in shares of Centurylink during the 2nd quarter valued at about $186,000. Institutional investors and hedge funds own 76.83% of the company’s stock.
Shares of NYSE:CTL opened at $20.97 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.60. Centurylink Inc has a 12 month low of $13.16 and a 12 month high of $24.20. The stock has a market capitalization of $22.66 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of -13.04 and a beta of 0.76.
In related news, Director Glen F. Post III sold 150,000 shares of the stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $22.00, for a total value of $3,300,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is currently owned by company insiders.
Several research firms have commented on CTL. Moffett Nathanson reissued a “sell” rating and set a $23.00 price objective on shares of Centurylink in a report on Wednesday, August 22nd. Hanson downgraded shares of Centurylink from a “neutral” rating to a “sell” rating and set a $19.00 price objective for the company. in a report on Wednesday, August 22nd. Royal Bank of Canada increased their price objective on shares of Centurylink to $27.00 and gave the company an “outperform” rating in a report on Thursday, August 16th. Morgan Stanley increased their price objective on shares of Centurylink from $21.60 to $25.00 and gave the company an “overweight” rating in a report on Wednesday, August 15th. Finally, ValuEngine raised shares of Centurylink from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. Centurylink presently has an average rating of “Hold” and a consensus price target of $21.12.
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.
Featured Article: What is the yield curve?
Want to see what other hedge funds are holding CTL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Centurylink Inc (NYSE:CTL).
Receive News & Ratings for Centurylink Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centurylink and related companies with MarketBeat.com's FREE daily email newsletter.