Centurylink Inc (NYSE:CTL) Sees Significant Growth in Short Interest

Centurylink Inc (NYSE:CTL) saw a significant growth in short interest in January. As of January 31st, there was short interest totalling 114,070,000 shares, a growth of 8.7% from the January 15th total of 104,920,000 shares. Currently, 10.6% of the shares of the stock are short sold. Based on an average trading volume of 12,410,000 shares, the short-interest ratio is currently 9.2 days.

In related news, Director Laurie Siegel sold 3,072 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $14.00, for a total transaction of $43,008.00. Following the completion of the transaction, the director now directly owns 59,358 shares of the company’s stock, valued at $831,012. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Howard Wealth Management LLC bought a new position in Centurylink during the fourth quarter valued at $26,000. Cornerstone Advisors Inc. lifted its holdings in shares of Centurylink by 68.7% in the 3rd quarter. Cornerstone Advisors Inc. now owns 2,058 shares of the technology company’s stock worth $26,000 after acquiring an additional 838 shares during the last quarter. Sugarloaf Wealth Management LLC bought a new stake in shares of Centurylink in the 4th quarter worth about $28,000. Pacitti Group Inc. bought a new stake in shares of Centurylink in the 4th quarter worth about $30,000. Finally, Farmers & Merchants Investments Inc. lifted its holdings in shares of Centurylink by 54.9% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 2,823 shares of the technology company’s stock worth $35,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 75.01% of the company’s stock.

CTL stock traded up $0.02 during trading on Friday, hitting $13.90. 8,813,562 shares of the company’s stock traded hands, compared to its average volume of 12,465,370. Centurylink has a 52 week low of $9.64 and a 52 week high of $15.30. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.70 and a current ratio of 0.70. The business has a fifty day simple moving average of $13.79 and a 200 day simple moving average of $13.02. The stock has a market capitalization of $16.15 billion, a price-to-earnings ratio of -1.88, a P/E/G ratio of 1.39 and a beta of 0.86.

Centurylink (NYSE:CTL) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.33 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. Centurylink had a negative net margin of 34.96% and a positive return on equity of 9.56%. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same quarter last year, the business earned $0.37 earnings per share. Centurylink’s quarterly revenue was down 3.6% compared to the same quarter last year. Research analysts forecast that Centurylink will post 1.31 earnings per share for the current fiscal year.

CTL has been the subject of several research analyst reports. Evercore ISI initiated coverage on shares of Centurylink in a research note on Wednesday, December 11th. They set an “underperform” rating and a $14.00 target price for the company. TheStreet raised shares of Centurylink from a “d+” rating to a “c” rating in a research note on Thursday, November 7th. ValuEngine cut shares of Centurylink from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Morgan Stanley cut shares of Centurylink from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $16.00 to $14.80 in a research note on Tuesday, December 17th. Finally, Guggenheim cut shares of Centurylink from a “neutral” rating to a “sell” rating and set a $10.00 target price for the company. in a research note on Wednesday, November 6th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $13.18.

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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