Blue Granite Capital LLC bought a new position in CenturyLink, Inc. (NYSE:CTL) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,171 shares of the technology company’s stock, valued at approximately $136,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Endurance Wealth Management Inc. grew its stake in CenturyLink by 18.5% in the 2nd quarter. Endurance Wealth Management Inc. now owns 4,650 shares of the technology company’s stock worth $111,000 after acquiring an additional 725 shares during the period. Patriot Financial Group Insurance Agency LLC grew its stake in CenturyLink by 178.6% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,684 shares of the technology company’s stock worth $134,000 after acquiring an additional 4,285 shares during the period. Exane Derivatives boosted its holdings in shares of CenturyLink by 27.6% in the 2nd quarter. Exane Derivatives now owns 6,645 shares of the technology company’s stock valued at $159,000 after purchasing an additional 1,436 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of CenturyLink in the 2nd quarter valued at $197,000. Finally, IFC Holdings Incorporated FL acquired a new position in shares of CenturyLink in the 3rd quarter valued at $201,000. 82.51% of the stock is owned by hedge funds and other institutional investors.
CTL has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of CenturyLink from a “sell” rating to a “hold” rating in a report on Friday, October 13th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $25.00 price target on shares of CenturyLink in a report on Wednesday, November 1st. Jefferies Group LLC reiterated a “hold” rating and issued a $22.00 price target on shares of CenturyLink in a report on Tuesday, October 3rd. ValuEngine upgraded shares of CenturyLink from a “hold” rating to a “buy” rating in a report on Tuesday, October 17th. Finally, Deutsche Bank AG decreased their price target on shares of CenturyLink from $23.00 to $20.00 and set a “hold” rating on the stock in a report on Tuesday, October 10th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $24.79.
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CenturyLink, Inc. (NYSE:CTL) traded down $0.05 during trading hours on Monday, hitting $16.32. 5,246,262 shares of the company traded hands, compared to its average volume of 16,307,693. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $8,997.10, a price-to-earnings ratio of 7.87, a price-to-earnings-growth ratio of -4.18 and a beta of 0.88. CenturyLink, Inc. has a 1-year low of $16.31 and a 1-year high of $27.61.
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to its residential and business customers. Its segments include business, which provides 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 provides strategic and legacy products and services to residential customers.
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