Insider Buying: Centurylink Inc (CTL) Chairman Purchases 10,000 Shares of Stock

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Centurylink Inc (NYSE:CTL) Chairman Harvey P. Perry acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was purchased at an average price of $10.92 per share, with a total value of $109,200.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of CTL traded down $0.05 during mid-day trading on Wednesday, reaching $10.95. The company’s stock had a trading volume of 11,712,848 shares, compared to its average volume of 15,347,837. The firm has a market cap of $11.46 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 0.67 and a beta of 0.74. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.69 and a current ratio of 0.71. Centurylink Inc has a 52 week low of $10.28 and a 52 week high of $24.20.

Centurylink (NYSE:CTL) last announced its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.07. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.71 billion. Centurylink had a negative net margin of 34.62% and a positive return on equity of 6.89%. The business’s quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 EPS. As a group, equities research analysts predict that Centurylink Inc will post 1.24 earnings per share for the current year.

CTL has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Centurylink from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Wednesday, March 13th. TheStreet lowered shares of Centurylink from a “c” rating to a “d+” rating in a research report on Wednesday, February 13th. UBS Group lowered shares of Centurylink from a “buy” rating to a “neutral” rating and dropped their target price for the company from $24.00 to $14.00 in a research report on Thursday, February 14th. JPMorgan Chase & Co. lowered shares of Centurylink from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $27.00 to $14.00 in a research report on Thursday, February 14th. Finally, Moffett Nathanson upgraded shares of Centurylink from a “sell” rating to a “neutral” rating and dropped their target price for the company from $16.00 to $12.00 in a research report on Tuesday, February 19th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $16.75.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC increased its stake in shares of Centurylink by 29.8% in 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 during the period. Thomasville National Bank increased its stake in shares of Centurylink by 5.6% in the fourth quarter. Thomasville National Bank now owns 46,265 shares of the technology company’s stock worth $701,000 after buying an additional 2,440 shares during the period. Commerzbank Aktiengesellschaft FI increased its position in Centurylink by 18.0% during the 4th 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 increased its position in Centurylink by 21.5% during the 4th 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 increased its position in Centurylink by 19.8% during the 4th 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 75.52% of the company’s stock.

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About Centurylink

CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers in the United States and internationally. The company operates in two segments, Business and Consumer. It offers VPN data network services; Ethernet services; Internet protocol (IP) services; facilities-based Prism TV service, as well as satellite digital television services; CDN services; and Vyvx broadcast services.

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