Short Interest in Centurylink Inc (NYSE:CTL) Drops By 9.1%
Centurylink Inc (NYSE:CTL) saw a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 99,836,295 shares, a decline of 9.1% from the April 30th total of 109,809,744 shares. Based on an average trading volume of 12,741,644 shares, the short-interest ratio is presently 7.8 days. Approximately 9.3% of the shares of the stock are short sold.
Several research analysts have recently weighed in on CTL shares. ValuEngine upgraded shares of Centurylink from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 1st. Bank of America set a $27.00 price target on shares of Centurylink and gave the company a “buy” rating in a report on Wednesday, February 21st. Zacks Investment Research cut shares of Centurylink from a “hold” rating to a “sell” rating in a report on Monday, February 19th. Cowen set a $19.00 price target on shares of Centurylink and gave the company a “hold” rating in a report on Thursday, February 15th. Finally, Barclays reissued a “hold” rating and set a $17.00 target price on shares of Centurylink in a report on Friday, February 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $21.00.
Shares of CTL stock traded up $0.47 during trading hours on Thursday, reaching $18.01. The stock had a trading volume of 9,035,814 shares, compared to its average volume of 11,595,933. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.58. Centurylink has a twelve month low of $13.16 and a twelve month high of $27.61. The stock has a market cap of $19.26 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of -12.74 and a beta of 0.77.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Monday, June 4th will be given a $0.54 dividend. The ex-dividend date of this dividend is Friday, June 1st. This represents a $2.16 dividend on an annualized basis and a yield of 11.99%. Centurylink’s dividend payout ratio is presently 146.94%.
In related news, major shareholder Holdings (Private) Ltd Temasek purchased 7,620,118 shares of the company’s stock in a transaction that occurred on Wednesday, April 4th. The stock was purchased at an average price of $16.72 per share, with a total value of $127,408,372.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven T. Clontz acquired 41,000 shares of the firm’s stock in a transaction on Friday, May 11th. The shares were acquired at an average price of $19.44 per share, with a total value of $797,040.00. Following the completion of the purchase, the director now owns 162,019 shares of the company’s stock, valued at $3,149,649.36. The disclosure for this purchase can be found here. Insiders own 0.60% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in CTL. Temasek Holdings Private Ltd boosted its position in shares of Centurylink by 13.9% during the 1st quarter. Temasek Holdings Private Ltd now owns 105,861,423 shares of the technology company’s stock valued at $1,739,303,000 after purchasing an additional 12,957,184 shares in the last quarter. Standard Life Aberdeen plc boosted its position in shares of Centurylink by 1,216.8% during the 4th quarter. Standard Life Aberdeen plc now owns 6,682,023 shares of the technology company’s stock valued at $111,491,000 after purchasing an additional 6,174,561 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Centurylink by 82.4% during the 4th quarter. Geode Capital Management LLC now owns 10,371,954 shares of the technology company’s stock valued at $172,650,000 after purchasing an additional 4,685,323 shares in the last quarter. ACR Alpine Capital Research LLC bought a new position in shares of Centurylink during the 4th quarter valued at about $70,510,000. Finally, Beck Mack & Oliver LLC boosted its position in shares of Centurylink by 352.4% during the 4th quarter. Beck Mack & Oliver LLC now owns 4,265,697 shares of the technology company’s stock valued at $71,152,000 after purchasing an additional 3,322,807 shares in the last quarter. Hedge funds and other institutional investors own 78.55% of the company’s stock.
CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers primarily in the United States. It operates in two segments, Business and Consumer. The company offers virtual private network data network services; Ethernet services; Internet protocol services; CenturyLink Prism TV that allows customers to watch television or cable channels and record up to four shows on one home digital video recorder; and Vyvx, which provides audio and video feeds over fiber or satellite for broadcast and production customers, as well as satellite digital television services.
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