Level 3 Communications, Inc. (LVLT) Shares Bought by Stephens Inc. AR

Stephens Inc. AR increased its stake in Level 3 Communications, Inc. (NYSE:LVLT) by 3.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,860 shares of the technology company’s stock after purchasing an additional 2,662 shares during the quarter. Stephens Inc. AR’s holdings in Level 3 Communications were worth $4,380,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. lifted its holdings in Level 3 Communications by 155.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,226 shares of the technology company’s stock worth $132,000 after purchasing an additional 1,354 shares during the period. Bronfman E.L. Rothschild L.P. lifted its holdings in Level 3 Communications by 449.0% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,306 shares of the technology company’s stock worth $137,000 after purchasing an additional 1,886 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in Level 3 Communications in the second quarter worth about $211,000. KCG Holdings Inc. acquired a new stake in Level 3 Communications in the first quarter worth about $212,000. Finally, Warren Averett Asset Management LLC acquired a new stake in Level 3 Communications in the first quarter worth about $222,000. 98.74% of the stock is owned by institutional investors and hedge funds.

LVLT has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Level 3 Communications from a “sell” rating to a “hold” rating in a report on Monday, August 7th. BidaskClub downgraded shares of Level 3 Communications from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Barclays PLC reissued an “equal weight” rating and issued a $59.00 price target (down from $61.00) on shares of Level 3 Communications in a report on Friday, July 14th. UBS AG reissued a “buy” rating and issued a $68.00 price target (down from $71.00) on shares of Level 3 Communications in a report on Tuesday, July 18th. Finally, Raymond James Financial, Inc. reissued an “underperform” rating and issued a $62.82 price target on shares of Level 3 Communications in a report on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $61.67.

In other news, SVP Eric Mortensen sold 1,189 shares of Level 3 Communications stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $59.10, for a total transaction of $70,269.90. Following the transaction, the senior vice president now owns 77,944 shares in the company, valued at approximately $4,606,490.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sunit S. Patel sold 16,653 shares of Level 3 Communications stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $59.10, for a total value of $984,192.30. Following the transaction, the vice president now owns 545,330 shares in the company, valued at approximately $32,229,003. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,224 shares of company stock worth $1,668,038. Company insiders own 0.53% of the company’s stock.

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Level 3 Communications, Inc. (LVLT) traded up 1.457% during mid-day trading on Tuesday, reaching $53.255. 490,777 shares of the company’s stock were exchanged. Level 3 Communications, Inc. has a 52 week low of $44.01 and a 52 week high of $64.61. The stock has a market cap of $19.32 billion, a P/E ratio of 30.293 and a beta of 1.23. The stock has a 50-day moving average price of $55.73 and a 200-day moving average price of $58.25.

Level 3 Communications (NYSE:LVLT) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.03. Level 3 Communications had a return on equity of 5.80% and a net margin of 7.85%. The firm had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter last year, the business earned $0.53 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. On average, analysts forecast that Level 3 Communications, Inc. will post $1.43 earnings per share for the current year.

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.

Institutional Ownership by Quarter for Level 3 Communications (NYSE:LVLT)

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