Corvex Capital Picked Centurylink Inc. (NYSE:CTL) Shares

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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Centurylink Inc. (NYSE:CTL)reported that Corvex Capital has picked up 30,998,645 of common stock as of 2017-06-16.

The acquisition brings the aggregate amount owned by Corvex Capital to a total of 30,998,645 representing a 5.6% stake in the company.

For those not familiar with the company, 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 business, 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. Its communications services include local and long-distance voice, broadband, Multi-Protocol Label Switching (MPLS), private line (including special access), Ethernet, colocation, hosting (including cloud hosting and managed hosting), data integration, video, network, public access, Voice over Internet Protocol (VoIP), information technology and other ancillary services. As of December 31, 2016, it served approximately 5.9 million broadband subscribers and 325,000 Prism TV subscribers.

A glance at Centurylink Inc. (NYSE:CTL)’s key stats reveals a current market capitalization of $13.93 Billion based on $548.81 Million shares outstanding and a price at last close of $25.72 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-11-10, Hussain picked up 14,580 at a purchase price of $24.00. This brings their total holding to 179,075  as of the date of the filing.

On the sell side, the most recent transaction saw Perry unload 5,000 shares at a sale price of $33.00. This brings their total holding to 72,607.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an Centurylink Inc. (NYSE:CTL) as things move forward to see if its progress aligns with these transactions.

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