Today, Advisor Partners LLC Buys New Stake in Level 3 Communications Inc. (LVLT)

Today, Advisor Partners LLC Buys New Stake in Level 3 Communications Inc. (LVLT)
Advisor Partners LLC bought a new position in shares of Level 3 Communications Inc. (NYSE:LVLT) during the third quarter, Holdings Channel reports. The firm bought 4,499 shares of the company’s stock, valued at approximately $209,000.

Several other large investors also recently bought and sold shares of LVLT. Brahman Capital Corp. acquired a new stake in shares of Level 3 Communications during the second quarter worth $240,963,000. Alpine Investment Management LLC raised its stake in shares of Level 3 Communications by 73.9% in the third quarter. Alpine Investment Management LLC now owns 2,362,863 shares of the company’s stock worth $109,590,000 after buying an additional 1,004,180 shares during the period. Carmignac Gestion raised its stake in shares of Level 3 Communications by 15.0% in the second quarter. Carmignac Gestion now owns 7,422,726 shares of the company’s stock worth $382,196,000 after buying an additional 969,789 shares during the period. Manning & Napier Advisors LLC raised its stake in shares of Level 3 Communications by 450.4% in the third quarter. Manning & Napier Advisors LLC now owns 1,071,590 shares of the company’s stock worth $49,699,000 after buying an additional 876,880 shares during the period. Finally, Locust Wood Capital Advisers LLC acquired a new stake in shares of Level 3 Communications during the second quarter worth $36,812,000.

Shares of Level 3 Communications Inc. (NYSE:LVLT) traded down 0.09% during trading on Thursday, hitting $56.57. The stock had a trading volume of 2,260,606 shares. The stock has a market capitalization of $20.36 billion, a price-to-earnings ratio of 5.47 and a beta of 1.60. The stock’s 50 day moving average is $50.73 and its 200 day moving average is $50.94. Level 3 Communications Inc. has a 52 week low of $41.73 and a 52 week high of $57.59.

Level 3 Communications (NYSE:LVLT) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.43 by $0.04. Level 3 Communications had a net margin of 45.64% and a return on equity of 6.18%. The company earned $2.03 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities research analysts expect that Level 3 Communications Inc. will post $1.59 earnings per share for the current fiscal year.

Several brokerages have recently commented on LVLT. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Level 3 Communications in a research report on Monday, September 12th. Moffett Nathanson upgraded Level 3 Communications from a “neutral” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Wednesday, August 24th. BTIG Research began coverage on Level 3 Communications in a research report on Monday, August 8th. They issued a “buy” rating and a $63.00 target price for the company. Jefferies Group reiterated a “buy” rating on shares of Level 3 Communications in a research report on Saturday, August 6th. Finally, Barclays PLC lowered Level 3 Communications from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $54.00 to $57.00 in a research report on Wednesday, November 16th. Fourteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $61.31.

In other news, SVP Eric Mortensen sold 595 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $46.17, for a total value of $27,471.15. Following the transaction, the senior vice president now directly owns 69,894 shares of the company’s stock, valued at approximately $3,227,005.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey K. Storey sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $51.00, for a total value of $1,020,000.00. Following the completion of the transaction, the insider now directly owns 633,739 shares in the company, valued at $32,320,689. The disclosure for this sale can be found here. 0.49% of the stock is owned by insiders.

Level 3 Communications Company Profile

Level 3 Communications, Inc is a provider of a range of integrated communications services. The Company’s operating segments include North America, EMEA and Latin America. The North America includes operations in Atlanta, Georgia; Littleton, Colorado; Miami, Florida; Montreal, Canada; New York, New York; Phoenix, Arizona; Pittsburgh, Pennsylvania; Southfield, Michigan, and Tulsa, Oklahoma.

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