92,554 Shares in CenturyLink Inc. (CTL) Acquired by Kalos Management Inc.
Kalos Management Inc. bought a new stake in shares of CenturyLink Inc. (NYSE:CTL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 92,554 shares of the company’s stock, valued at approximately $2,685,000. CenturyLink accounts for 2.1% of Kalos Management Inc.’s portfolio, making the stock its 6th largest position.
Several other institutional investors have also bought and sold shares of the stock. Bank of Montreal Can acquired a new position in CenturyLink during the second quarter valued at $28,172,000. AXA acquired a new position in CenturyLink during the first quarter valued at $27,892,000. Old Mutual Global Investors UK Ltd. raised its position in CenturyLink by 57.2% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 2,355,625 shares of the company’s stock valued at $68,336,000 after buying an additional 857,345 shares during the last quarter. Panagora Asset Management Inc. raised its position in CenturyLink by 32.1% in the first quarter. Panagora Asset Management Inc. now owns 2,511,649 shares of the company’s stock valued at $80,272,000 after buying an additional 610,495 shares during the last quarter. Finally, First Quadrant L P CA raised its position in CenturyLink by 120.4% in the second quarter. First Quadrant L P CA now owns 917,700 shares of the company’s stock valued at $26,622,000 after buying an additional 501,300 shares during the last quarter. Institutional investors and hedge funds own 73.31% of the company’s stock.
Shares of CenturyLink Inc. (NYSE:CTL) traded up 0.97% during midday trading on Wednesday, hitting $28.17. 1,737,245 shares of the company were exchanged. The stock’s 50-day moving average is $27.54 and its 200-day moving average is $28.99. CenturyLink Inc. has a one year low of $21.94 and a one year high of $32.94. The stock has a market cap of $15.38 billion, a PE ratio of 15.77 and a beta of 0.80.
CenturyLink (NYSE:CTL) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.04. CenturyLink had a net margin of 5.47% and a return on equity of 11.02%. The company had revenue of $440 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the prior year, the business posted $0.55 EPS. CenturyLink’s quarterly revenue was down .5% on a year-over-year basis. Equities research analysts anticipate that CenturyLink Inc. will post $2.53 EPS for the current year.
Several equities analysts recently weighed in on CTL shares. Morgan Stanley lowered shares of CenturyLink from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $31.00 to $27.00 in a report on Monday, July 18th. Macquarie initiated coverage on shares of CenturyLink in a report on Monday, July 11th. They issued a “neutral” rating and a $31.00 price objective on the stock. Zacks Investment Research lowered shares of CenturyLink from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Vetr upgraded shares of CenturyLink from a “hold” rating to a “buy” rating and set a $29.33 price objective on the stock in a report on Wednesday, August 31st. Finally, Evercore ISI initiated coverage on shares of CenturyLink in a report on Tuesday, June 21st. They issued a “hold” rating and a $28.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $28.44.
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to residential and business customers. The Company’s segments include Business and Consumer. Its communications services include local and long-distance voice, high-speed Internet, Multi-Protocol Label Switching (MPLS), private line (including special access), data integration, Ethernet, colocation, managed hosting (including cloud hosting), network, public access, video, wireless and other ancillary services.
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