CenturyLink (CTL) Position Boosted by ACR Alpine Capital Research LLC

ACR Alpine Capital Research LLC boosted its position in shares of CenturyLink (NYSE:CTL) by 44.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,122,188 shares of the technology company’s stock after purchasing an additional 1,894,921 shares during the period. CenturyLink comprises about 5.5% of ACR Alpine Capital Research LLC’s investment portfolio, making the stock its 7th biggest position. ACR Alpine Capital Research LLC owned 0.57% of CenturyLink worth $100,588,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. LPL Financial LLC raised its stake in shares of CenturyLink by 40.6% in the fourth quarter. LPL Financial LLC now owns 162,665 shares of the technology company’s stock worth $2,713,000 after acquiring an additional 46,986 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in shares of CenturyLink in the fourth quarter worth about $801,000. OppenheimerFunds Inc. raised its stake in shares of CenturyLink by 62.7% in the fourth quarter. OppenheimerFunds Inc. now owns 4,027,729 shares of the technology company’s stock worth $67,183,000 after acquiring an additional 1,551,931 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of CenturyLink by 70.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 214,524 shares of the technology company’s stock worth $3,578,000 after acquiring an additional 88,381 shares during the last quarter. Finally, Cornerstone Investment Partners LLC raised its stake in shares of CenturyLink by 119.7% in the fourth quarter. Cornerstone Investment Partners LLC now owns 163,096 shares of the technology company’s stock worth $2,720,000 after acquiring an additional 88,868 shares during the last quarter. 86.20% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have weighed in on CTL. Guggenheim began coverage on shares of CenturyLink in a research note on Tuesday, March 13th. They issued a “neutral” rating and a $17.00 target price for the company. Macquarie downgraded shares of CenturyLink from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $27.61 to $18.00 in a research note on Wednesday. Bank of America set a $27.00 target price on shares of CenturyLink and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Zacks Investment Research downgraded shares of CenturyLink from a “hold” rating to a “sell” rating in a research note on Monday, February 19th. Finally, ValuEngine downgraded shares of CenturyLink from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $21.00.

CTL opened at $19.25 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.58. The company has a market cap of $20.90 billion, a P/E ratio of 13.10, a price-to-earnings-growth ratio of -14.42 and a beta of 0.76. CenturyLink has a fifty-two week low of $19.13 and a fifty-two week high of $19.55.

CenturyLink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, May 9th. The technology company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.06. The business had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $5.97 billion. CenturyLink had a net margin of 6.92% and a return on equity of 4.94%. CenturyLink’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 earnings per share. equities research analysts anticipate that CenturyLink will post 0.9 earnings per share for the current fiscal year.

In other CenturyLink news, Director Steven T. Clontz purchased 41,000 shares of the company’s stock in a transaction that occurred on Friday, May 11th. The stock was acquired at an average cost of $19.44 per share, with a total value of $797,040.00. Following the completion of the purchase, the director now directly owns 162,019 shares in the company, valued at approximately $3,149,649.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Holdings (Private) Ltd Temasek purchased 7,620,118 shares of the company’s stock in a transaction that occurred on Wednesday, April 4th. The shares were acquired at an average cost of $16.72 per share, with a total value of $127,408,372.96. The disclosure for this purchase can be found here. Insiders own 0.60% of the company’s stock.

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.

Institutional Ownership by Quarter for CenturyLink (NYSE:CTL)

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