Trading Report: Today, Alps Advisors Inc. Reduces stake in Level 3 Communications Inc. (LVLT)

Today, Alps Advisors Inc. Reduces stake in Level 3 Communications Inc. (LVLT)

Alps Advisors Inc. lowered its position in Level 3 Communications Inc. (NYSE:LVLT) by 4.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,681 shares of the company’s stock after selling 433 shares during the period. Alps Advisors Inc.’s holdings in Level 3 Communications were worth $447,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. Hall Laurie J Trustee raised its stake in Level 3 Communications by 14.6% in the second quarter. Hall Laurie J Trustee now owns 1,963 shares of the company’s stock worth $104,000 after buying an additional 250 shares in the last quarter. Checchi Capital Advisers LLC boosted its position in shares of Level 3 Communications by 6.6% in the second quarter. Checchi Capital Advisers LLC now owns 3,580 shares of the company’s stock worth $184,000 after buying an additional 223 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in shares of Level 3 Communications during the first quarter worth $211,000. Atria Investments LLC purchased a new position in shares of Level 3 Communications during the second quarter worth $224,000. Finally, FDO Partners LLC purchased a new position in shares of Level 3 Communications during the first quarter worth $236,000.

Level 3 Communications Inc. (NYSE:LVLT) traded up 0.20% on Thursday, hitting $45.71. 2,019,405 shares of the stock traded hands. The firm has a market capitalization of $16.43 billion, a PE ratio of 4.59 and a beta of 1.75. The stock has a 50 day moving average of $48.37 and a 200 day moving average of $51.32. 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 posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09. The business earned $2.06 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Level 3 Communications had a net margin of 43.75% and a return on equity of 7.14%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the company posted $0.42 earnings per share. Equities research analysts anticipate that Level 3 Communications Inc. will post $1.66 earnings per share for the current year.

A number of equities analysts have recently weighed in on LVLT shares. Wells Fargo & Co. reissued an “overweight” rating and set a $69.00 price target (up from $61.00) on shares of Level 3 Communications in a research report on Monday, July 18th. Stephens reissued an “overweight” rating and set a $63.00 price target on shares of Level 3 Communications in a research report on Friday, July 15th. Zacks Investment Research cut shares of Level 3 Communications from a “hold” rating to a “strong sell” rating in a research report on Monday, September 26th. JPMorgan Chase & Co. cut shares of Level 3 Communications from an “overweight” rating to a “neutral” rating and set a $60.00 price target on the stock. in a research report on Thursday, July 28th. Finally, Moffett Nathanson raised shares of Level 3 Communications from a “neutral” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Wednesday, August 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $61.44.

In other Level 3 Communications news, insider Andrew Crouch sold 4,200 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $50.34, for a total value of $211,428.00. Following the completion of the sale, the insider now directly owns 130,905 shares in the company, valued at $6,589,757.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sunit S. Patel sold 6,170 shares of the firm’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $45.81, for a total transaction of $282,647.70. Following the completion of the sale, the vice president now owns 462,286 shares of the company’s stock, valued at $21,177,321.66. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by company 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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