Swiss National Bank Has $64.90 Million Holdings in Level 3 Communications, Inc. (LVLT)

Swiss National Bank boosted its position in shares of Level 3 Communications, Inc. (NYSE:LVLT) by 3.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,217,901 shares of the technology company’s stock after purchasing an additional 41,300 shares during the period. Swiss National Bank’s holdings in Level 3 Communications were worth $64,902,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Harvest Management LLC raised its stake in Level 3 Communications by 131.6% during the third quarter. Harvest Management LLC now owns 140,800 shares of the technology company’s stock worth $7,503,000 after purchasing an additional 80,000 shares during the period. Prudential Financial Inc. raised its stake in Level 3 Communications by 0.4% during the third quarter. Prudential Financial Inc. now owns 413,197 shares of the technology company’s stock worth $22,019,000 after purchasing an additional 1,810 shares during the period. IndexIQ Advisors LLC raised its stake in shares of Level 3 Communications by 19.0% in the 3rd quarter. IndexIQ Advisors LLC now owns 198,857 shares of the technology company’s stock valued at $10,597,000 after acquiring an additional 31,808 shares during the period. American Century Companies Inc. raised its stake in shares of Level 3 Communications by 17.8% in the 3rd quarter. American Century Companies Inc. now owns 3,544,068 shares of the technology company’s stock valued at $188,863,000 after acquiring an additional 534,629 shares during the period. Finally, Gabelli Funds LLC raised its stake in shares of Level 3 Communications by 7.5% in the 3rd quarter. Gabelli Funds LLC now owns 1,236,222 shares of the technology company’s stock valued at $65,878,000 after acquiring an additional 86,402 shares during the period. 98.84% of the stock is currently owned by institutional investors.

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Level 3 Communications, Inc. (NYSE LVLT) opened at $53.63 on Monday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.94. Level 3 Communications, Inc. has a twelve month low of $50.82 and a twelve month high of $64.61.

A number of research firms have recently issued reports on LVLT. BidaskClub raised shares of Level 3 Communications from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 27th. 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 research note on Tuesday, July 18th. Zacks Investment Research raised shares of Level 3 Communications from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Finally, Barclays PLC reduced their price target on shares of 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. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $61.55.

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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