Absolute Return Capital buys $13,097,463 stake in Centurylink Inc (CTL)

Centurylink Inc (CTL) : Absolute Return Capital scooped up 227,581 additional shares in Centurylink Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 437,165 shares of Centurylink Inc which is valued at $13,097,463.Centurylink Inc makes up approximately 0.75% of Absolute Return Capital’s portfolio.

Other Hedge Funds, Including , Two Sigma Investments Lp sold out all of its stake in CTL during the most recent quarter. The investment firm sold 54,605 shares of CTL which is valued $1,635,966.Hightower Advisors reduced its stake in CTL by selling 39,428 shares or 30.06% in the most recent quarter. The Hedge Fund company now holds 91,738 shares of CTL which is valued at $2,748,470. Centurylink Inc makes up approx 0.03% of Hightower Advisors’s portfolio.Moors Cabot reduced its stake in CTL by selling 619 shares or 4.3% in the most recent quarter. The Hedge Fund company now holds 13,771 shares of CTL which is valued at $418,914. Centurylink Inc makes up approx 0.07% of Moors Cabot’s portfolio.Ropes Wealth Advisors reduced its stake in CTL by selling 340 shares or 80.19% in the most recent quarter. The Hedge Fund company now holds 84 shares of CTL which is valued at $2,555.Cornerstone Financial Partners reduced its stake in CTL by selling 2,432 shares or 20.68% in the most recent quarter. The Hedge Fund company now holds 9,330 shares of CTL which is valued at $284,658. Centurylink Inc makes up approx 0.10% of Cornerstone Financial Partners’s portfolio.

Centurylink Inc opened for trading at $28.17 and hit $28.42 on the upside on Wednesday, eventually ending the session at $28.4, with a gain of 0.82% or 0.23 points. The heightened volatility saw the trading volume jump to 3,210,762 shares. Company has a market cap of $15,506 M.

On the company’s financial health, Centurylink Inc reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.59. The company had revenue of $4398.00 million for the quarter, compared to analysts expectations of $4390.47 million. The company’s revenue was down -.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.55 EPS.

Many Wall Street Analysts have commented on Centurylink Inc. Company shares were Reiterated by RBC Capital Mkts on Aug 8, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 31 from a previous price target of $29 .Shares were Downgraded by Morgan Stanley on Jul 18, 2016 to ” Underweight” and Lowered the Price Target to $ 27 from a previous price target of $31 .Macquarie Initiated Centurylink Inc on Jul 11, 2016 to “Neutral”, Price Target of the shares are set at $31.

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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