Lee Danner & Bass Inc. Buys Shares of 1,063,388 Centurylink Inc (CTL)

Lee Danner & Bass Inc. bought a new position in shares of Centurylink Inc (NYSE:CTL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,063,388 shares of the technology company’s stock, valued at approximately $17,737,000. Centurylink makes up 1.8% of Lee Danner & Bass Inc.’s investment portfolio, making the stock its 10th largest holding.

Several other large investors have also made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in shares of Centurylink by 6.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 10,289,893 shares of the technology company’s stock worth $194,498,000 after purchasing an additional 600,462 shares in the last quarter. Epoch Investment Partners Inc. grew its position in shares of Centurylink by 11.0% during the 3rd quarter. Epoch Investment Partners Inc. now owns 5,521,373 shares of the technology company’s stock worth $104,354,000 after purchasing an additional 546,435 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Centurylink by 61.5% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 4,358,192 shares of the technology company’s stock worth $72,695,000 after purchasing an additional 1,658,861 shares in the last quarter. 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 worth $71,152,000 after acquiring an additional 3,322,807 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Centurylink by 4.3% during the 3rd quarter. Legal & General Group Plc now owns 4,120,750 shares of the technology company’s stock worth $77,891,000 after acquiring an additional 171,620 shares in the last quarter. Hedge funds and other institutional investors own 42.38% of the company’s stock.

Several analysts recently issued reports on the stock. ValuEngine lowered shares of Centurylink from a “strong-buy” rating to a “buy” rating in a research report on Friday. Royal Bank of Canada upgraded shares of Centurylink from a “sector perform” rating to an “outperform” rating in a research report on Thursday, January 25th. They noted that the move was a valuation call. Oppenheimer reiterated a “buy” rating and set a $20.00 price target on shares of Centurylink in a research report on Tuesday, January 9th. Zacks Investment Research upgraded shares of Centurylink from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Finally, Goldman Sachs Group upgraded shares of Centurylink from a “sell” rating to a “neutral” rating and set a $19.00 price target on the stock in a research report on Monday, January 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Centurylink currently has an average rating of “Hold” and an average price target of $22.37.

Centurylink Inc (NYSE CTL) opened at $17.73 on Monday. The company has a market cap of $18,953.42, a P/E ratio of 30.57, a P/E/G ratio of -7.73 and a beta of 0.82. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82. Centurylink Inc has a 52 week low of $13.16 and a 52 week high of $27.61.

Centurylink (NYSE:CTL) last issued its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). The company 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%. Centurylink’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.56 EPS. equities analysts expect that Centurylink Inc will post 1.56 earnings per share for the current year.

In related news, Director Martha Helena Bejar acquired 7,000 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was acquired at an average price of $14.28 per share, with a total value of $99,960.00. Following the purchase, the director now directly owns 25,991 shares in the company, valued at $371,151.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Glen F. Post III acquired 50,000 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was bought at an average cost 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 three months, insiders purchased 150,595 shares of company stock valued at $2,154,131. 0.61% of the stock is owned by insiders.

COPYRIGHT VIOLATION WARNING: This article was first published by Stock Observer and is owned by of Stock Observer. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this article can be viewed at https://www.thestockobserver.com/2018/02/05/lee-danner-bass-inc-buys-shares-of-1063388-centurylink-inc-ctl.html.

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.

Want to see what other hedge funds are holding CTL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Centurylink Inc (NYSE:CTL).

Institutional Ownership by Quarter for Centurylink (NYSE:CTL)

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.

Leave a Reply