Adell Harriman Carpenter Inc buys $4.9 Million stake in Centurylink Inc (CTL)

Centurylink Inc (CTL) : Adell Harriman Carpenter Inc scooped up 11,059 additional shares in Centurylink Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 177,532 shares of Centurylink Inc which is valued at $4.9 Million.Centurylink Inc makes up approximately 1.35% of Adell Harriman Carpenter Inc’s portfolio.

Other Hedge Funds, Including , Trexquant Investment Lp sold out all of its stake in CTL during the most recent quarter. The investment firm sold 161,463 shares of CTL which is valued $4.5 Million. Wetherby Asset Management Inc added CTL to its portfolio by purchasing 6,446 company shares during the most recent quarter which is valued at $179,714. Centurylink Inc makes up approx 0.04% of Wetherby Asset Management Inc’s portfolio.Commerce Bank reduced its stake in CTL by selling 2,286 shares or 9.29% in the most recent quarter. The Hedge Fund company now holds 22,308 shares of CTL which is valued at $690,433. Centurylink Inc makes up approx 0.01% of Commerce Bank’s portfolio.Oppenheimer Co Inc reduced its stake in CTL by selling 4,643 shares or 9.29% in the most recent quarter. The Hedge Fund company now holds 45,313 shares of CTL which is valued at $1.4 Million. Centurylink Inc makes up approx 0.04% of Oppenheimer Co Inc’s portfolio. Brc Investment Management added CTL to its portfolio by purchasing 25,401 company shares during the most recent quarter which is valued at $786,161. Centurylink Inc makes up approx 0.12% of Brc Investment Management’s portfolio.

Centurylink Inc closed down -0.06 points or -0.22% at $27.82 with 38,63,441 shares getting traded on Monday. Post opening the session at $27.89, the shares hit an intraday low of $27.78 and an intraday high of $28.18 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Centurylink Inc reported $0.71 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.68. The company had revenue of $4401.00 million for the quarter, compared to analysts expectations of $4425.72 million. The company’s revenue was down -1.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.67 EPS.

Many Wall Street Analysts have commented on Centurylink Inc. Centurylink Inc was Downgraded by Wells Fargo to ” Market Perform” on May 3, 2016. Company shares were Reiterated by Deutsche Bank on Apr 12, 2016 to “Hold”, Firm has raised the Price Target to $ 30 from a previous price target of $28 .Centurylink Inc was Downgraded by Jefferies to ” Underperform” on Mar 17, 2016.

CenturyLink Inc. is an integrated communications company. The Company is engaged in providing an array of communications services to residential business governmental and wholesale customers. The Company’s communications services include local and long-distance broadband private line Multi-Protocol Label Switching (MPLS) data integration managed hosting colocation Ethernet network access video wireless and other ancillary services. The Company operates in two segments: Business and Consumer. The Business segment provides strategic legacy and data integration products and services to enterprise wholesale and governmental customers including other communication providers. The Consumer segment provides strategic and legacy products and services to residential customers.

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