Centurylink Inc (CTL) Short Interest Up 6.1% in December

Centurylink Inc (NYSE:CTL) saw a significant increase in short interest in December. As of December 29th, there was short interest totalling 60,647,599 shares, an increase of 6.1% from the December 15th total of 57,175,788 shares. Based on an average daily volume of 13,230,676 shares, the days-to-cover ratio is currently 4.6 days. Currently, 5.7% of the company’s stock are short sold.

Centurylink (CTL) opened at $17.36 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.92. Centurylink has a one year low of $13.16 and a one year high of $27.61. The company has a market capitalization of $18,560.00, a PE ratio of 29.93, a P/E/G ratio of -7.75 and a beta of 0.79.

Centurylink (NYSE:CTL) last announced its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). The firm had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.06 billion. Centurylink had a net margin of 1.89% and a return on equity of 7.99%. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 earnings per share. analysts forecast that Centurylink will post 1.56 EPS for the current year.

In related news, Director Virginia Boulet acquired 5,095 shares of Centurylink stock in a transaction on Monday, December 11th. The shares were bought at an average price of $15.48 per share, for a total transaction of $78,870.60. Following the completion of the purchase, the director now directly owns 42,820 shares in the company, valued at approximately $662,853.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Glen F. Post III acquired 50,000 shares of Centurylink stock in a transaction on Friday, December 8th. The shares were bought at an average price of $14.17 per share, for a total transaction of $708,500.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 150,595 shares of company stock worth $2,154,131. 0.61% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Global X MANAGEMENT CO LLC increased its holdings in Centurylink by 17.1% in the third quarter. Global X MANAGEMENT CO LLC now owns 441,440 shares of the technology company’s stock valued at $8,343,000 after buying an additional 64,432 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Centurylink by 39.1% in the second quarter. Janus Henderson Group PLC now owns 104,645 shares of the technology company’s stock valued at $2,499,000 after buying an additional 29,403 shares during the last quarter. Kirr Marbach & Co. LLC IN bought a new stake in Centurylink in the third quarter valued at about $9,425,000. Frontier Investment Mgmt Co. increased its holdings in Centurylink by 9.1% in the second quarter. Frontier Investment Mgmt Co. now owns 152,277 shares of the technology company’s stock valued at $3,636,000 after buying an additional 12,744 shares during the last quarter. Finally, Gyroscope Capital Management Group LLC bought a new stake in Centurylink in the second quarter valued at about $5,267,000. 82.32% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently commented on CTL. UBS Group cut their price target on Centurylink from $29.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, November 9th. Oppenheimer reiterated a “buy” rating and issued a $20.00 price target on shares of Centurylink in a research note on Tuesday, January 9th. Cowen reiterated a “hold” rating and issued a $24.00 price target on shares of Centurylink in a research note on Thursday, October 19th. Bank of America cut their price target on Centurylink from $42.00 to $27.00 and set a “buy” rating on the stock in a research note on Friday, November 10th. Finally, Deutsche Bank reiterated a “hold” rating and issued a $16.00 price target on shares of Centurylink in a research note on Thursday, November 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $22.37.

TRADEMARK VIOLATION WARNING: This report was first posted by American Banking News and is the property of of American Banking News. If you are reading this report on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The original version of this report can be read at https://www.americanbankingnews.com/2018/01/15/centurylink-inc-ctl-short-interest-up-6-1-in-december.html.

About Centurylink

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.

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.

Latest News

Leave a Reply