Today, Investment Counselors of Maryland LLC sells partial stakes of Level 3 Communications Inc. (LVLT)

Today, Investment Counselors of Maryland LLC sells partial stakes of Level 3 Communications Inc. (LVLT)
Investment Counselors of Maryland LLC decreased its stake in Level 3 Communications Inc. (NYSE:LVLT) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,063 shares of the company’s stock after selling 256 shares during the period. Investment Counselors of Maryland LLC’s holdings in Level 3 Communications were worth $1,116,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Beck Mack & Oliver LLC boosted its position in Level 3 Communications by 22.2% in the second quarter. Beck Mack & Oliver LLC now owns 1,259,120 shares of the company’s stock valued at $64,833,000 after buying an additional 229,138 shares during the period. Carmignac Gestion boosted its position in Level 3 Communications by 15.0% in the second quarter. Carmignac Gestion now owns 7,422,726 shares of the company’s stock valued at $382,196,000 after buying an additional 969,789 shares during the period. New York State Teachers Retirement System boosted its position in Level 3 Communications by 2.9% in the second quarter. New York State Teachers Retirement System now owns 480,021 shares of the company’s stock valued at $24,716,000 after buying an additional 13,583 shares during the period. Alpine Investment Management LLC boosted its position in Level 3 Communications by 18.5% in the second quarter. Alpine Investment Management LLC now owns 1,358,683 shares of the company’s stock valued at $69,959,000 after buying an additional 211,756 shares during the period. Finally, Prudential Financial Inc. boosted its position in Level 3 Communications by 12.6% in the second quarter. Prudential Financial Inc. now owns 410,985 shares of the company’s stock valued at $21,162,000 after buying an additional 46,100 shares during the period.

Shares of Level 3 Communications Inc. (NYSE:LVLT) traded up 0.39% on Friday, hitting $56.79. 1,118,441 shares of the stock traded hands. The firm’s 50 day moving average is $50.73 and its 200 day moving average is $50.94. The firm has a market capitalization of $20.44 billion, a PE ratio of 5.49 and a beta of 1.60. 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 issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.43 by $0.04. Level 3 Communications had a return on equity of 6.18% and a net margin of 45.64%. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the firm earned $0.48 EPS. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, analysts expect that Level 3 Communications Inc. will post $1.59 EPS for the current fiscal year.

Several research analysts have recently issued reports on LVLT shares. Moffett Nathanson cut shares of Level 3 Communications from a “buy” rating to a “neutral” rating in a report on Tuesday. Jefferies Group cut shares of Level 3 Communications from a “buy” rating to a “hold” rating and reduced their target price for the stock from $58.00 to $55.00 in a report on Tuesday, November 1st. Royal Bank Of Canada cut shares of Level 3 Communications from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $58.00 to $63.00 in a report on Tuesday, November 1st. Goldman Sachs Group Inc. cut shares of Level 3 Communications from a “buy” rating to a “neutral” rating and raised their target price for the stock from $55.00 to $60.00 in a report on Tuesday, November 1st. Finally, RBC Capital Markets cut shares of Level 3 Communications from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $58.00 to $63.00 in a report on Tuesday, November 1st. Fourteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $61.31.

In related news, EVP John Michael Ryan sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $49.61, for a total transaction of $297,660.00. Following the completion of the transaction, the executive vice president now owns 109,956 shares in the company, valued at $5,454,917.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Hector Alonso sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $56.78, for a total transaction of $567,800.00. Following the transaction, the insider now owns 112,228 shares of the company’s stock, valued at approximately $6,372,305.84. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

About Level 3 Communications

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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