QS Investors LLC boosted its position in Level 3 Communications, Inc. (NYSE:LVLT) by 7.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,127 shares of the technology company’s stock after purchasing an additional 1,669 shares during the period. QS Investors LLC’s holdings in Level 3 Communications were worth $1,490,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Stifel Financial Corp lifted its stake in Level 3 Communications by 27.7% in the second quarter. Stifel Financial Corp now owns 9,036 shares of the technology company’s stock valued at $536,000 after purchasing an additional 1,959 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new position in Level 3 Communications in the second quarter valued at approximately $3,920,000. Veritable L.P. lifted its stake in Level 3 Communications by 4.7% in the second quarter. Veritable L.P. now owns 8,456 shares of the technology company’s stock valued at $501,000 after purchasing an additional 382 shares during the last quarter. Virtu KCG Holdings LLC lifted its stake in Level 3 Communications by 0.5% in the second quarter. Virtu KCG Holdings LLC now owns 3,723 shares of the technology company’s stock valued at $221,000 after purchasing an additional 17 shares during the last quarter. Finally, Glazer Capital LLC lifted its stake in Level 3 Communications by 55.2% in the second quarter. Glazer Capital LLC now owns 1,568,009 shares of the technology company’s stock valued at $92,983,000 after purchasing an additional 557,954 shares during the last quarter. Institutional investors and hedge funds own 98.82% of the company’s stock.
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Several equities analysts recently commented on the company. Barclays PLC dropped their price objective on Level 3 Communications from $59.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 4th. BidaskClub upgraded Level 3 Communications from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 27th. Zacks Investment Research upgraded Level 3 Communications from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Finally, UBS AG reiterated a “buy” rating and issued a $68.00 price objective (down previously from $71.00) on shares of Level 3 Communications in a research note on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $61.12.
Level 3 Communications, Inc. (NYSE:LVLT) opened at 55.49 on Wednesday. The stock has a 50 day moving average of $53.91 and a 200 day moving average of $57.76. Level 3 Communications, Inc. has a 12-month low of $44.01 and a 12-month high of $64.61. The company has a market cap of $20.13 billion, a PE ratio of 31.56 and a beta of 1.21.
Level 3 Communications (NYSE:LVLT) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. Level 3 Communications had a net margin of 7.85% and a return on equity of 5.80%. The company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the previous year, the company earned $0.53 EPS. Level 3 Communications’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts expect that Level 3 Communications, Inc. will post $1.45 earnings per share for the current year.
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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