Short Interest in Centurylink Inc (CTL) Expands By 5.5%

Centurylink Inc (NYSE:CTL) saw a large increase in short interest in January. As of January 31st, there was short interest totalling 62,895,488 shares, an increase of 5.5% from the January 12th total of 59,626,820 shares. Currently, 5.9% of the company’s stock are sold short. Based on an average trading volume of 10,619,679 shares, the days-to-cover ratio is currently 5.9 days.

Centurylink (NYSE CTL) opened at $16.76 on Tuesday. Centurylink has a 12-month low of $13.16 and a 12-month high of $27.61. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $17,920.00, a PE ratio of 28.90, a P/E/G ratio of -6.96 and a beta of 0.82.

In related news, Vice Chairman William Bruce Hanks purchased 10,000 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was bought at an average price of $14.41 per share, for a total transaction of $144,100.00. Following the purchase, the insider now owns 58,722 shares in the company, valued at approximately $846,184.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Glen F. Post III purchased 50,000 shares of the firm’s stock in a transaction dated Friday, December 8th. The shares were bought at an average price of $14.17 per share, with a total value of $708,500.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 150,595 shares of company stock valued at $2,154,131. 0.61% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Sentry Investment Management LLC raised its holdings in Centurylink by 0.5% in the 2nd quarter. Sentry Investment Management LLC now owns 37,917 shares of the technology company’s stock valued at $905,000 after acquiring an additional 174 shares in the last quarter. Thrivent Financial For Lutherans raised its holdings in Centurylink by 3.3% in the 2nd quarter. Thrivent Financial For Lutherans now owns 20,855 shares of the technology company’s stock valued at $498,000 after acquiring an additional 663 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its holdings in Centurylink by 1.3% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 94,774 shares of the technology company’s stock valued at $2,262,000 after acquiring an additional 1,218 shares in the last quarter. Advisory Services Network LLC raised its holdings in Centurylink by 12.8% in the 2nd quarter. Advisory Services Network LLC now owns 22,408 shares of the technology company’s stock valued at $535,000 after acquiring an additional 2,538 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in Centurylink by 2.1% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 135,156 shares of the technology company’s stock valued at $2,554,000 after acquiring an additional 2,754 shares in the last quarter. 43.43% of the stock is owned by hedge funds and other institutional investors.

CTL has been the subject of several research analyst reports. Bank of America cut their price objective on Centurylink from $42.00 to $27.00 and set a “buy” rating for the company in a research report on Friday, November 10th. ValuEngine raised Centurylink from a “hold” rating to a “buy” rating in a research report on Tuesday, October 17th. UBS Group cut their price objective on Centurylink from $29.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, November 9th. JPMorgan Chase & Co. reissued a “buy” rating and set a $26.00 price objective on shares of Centurylink in a research report on Thursday, November 9th. Finally, Oppenheimer reissued a “buy” rating and set a $20.00 price objective on shares of Centurylink in a research report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned 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 price target of $22.37.

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Centurylink Company Profile

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 Enterprise, 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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