First Quadrant L P CA Has $285,000 Position in Level 3 Communications, Inc. (LVLT)

First Quadrant L P CA maintained its position in Level 3 Communications, Inc. (NYSE:LVLT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,804 shares of the technology company’s stock at the end of the second quarter. First Quadrant L P CA’s holdings in Level 3 Communications were worth $285,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LVLT. British Columbia Investment Management Corp raised its position in shares of Level 3 Communications by 11.5% in the first quarter. British Columbia Investment Management Corp now owns 192,038 shares of the technology company’s stock valued at $10,988,000 after buying an additional 19,869 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Level 3 Communications by 9.8% in the first quarter. Parametric Portfolio Associates LLC now owns 501,276 shares of the technology company’s stock valued at $28,683,000 after buying an additional 44,634 shares in the last quarter. Kentucky Retirement Systems purchased a new position in shares of Level 3 Communications during the fourth quarter valued at about $1,192,000. Assenagon Asset Management S.A. purchased a new position in shares of Level 3 Communications during the first quarter valued at about $644,000. Finally, JPMorgan Chase & Co. raised its position in shares of Level 3 Communications by 45.6% in the first quarter. JPMorgan Chase & Co. now owns 1,409,023 shares of the technology company’s stock valued at $80,623,000 after buying an additional 441,170 shares in the last quarter.

Shares of Level 3 Communications, Inc. (NYSE:LVLT) opened at 52.69 on Friday. The firm’s 50-day moving average price is $57.57 and its 200 day moving average price is $58.65. The stock has a market capitalization of $19.11 billion, a P/E ratio of 29.97 and a beta of 1.23. Level 3 Communications, Inc. has a 52 week low of $44.01 and a 52 week high of $64.61.

Level 3 Communications (NYSE:LVLT) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.06 billion. Level 3 Communications had a return on equity of 5.80% and a net margin of 7.85%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 earnings per share. Analysts expect that Level 3 Communications, Inc. will post $1.42 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “First Quadrant L P CA Has $285,000 Position in Level 3 Communications, Inc. (LVLT)” was originally published by Community Financial News and is the property of of Community Financial News. If you are viewing this piece on another publication, it was copied illegally and republished in violation of US and international trademark & copyright legislation. The original version of this piece can be read at https://www.com-unik.info/2017/08/19/level-3-communications-inc-lvlt-stake-held-by-first-quadrant-l-p-ca-updated-updated.html.

Several research analysts have recently issued reports on LVLT shares. Jefferies Group LLC decreased their target price on Level 3 Communications from $64.00 to $59.00 and set a “hold” rating for the company in a research report on Thursday, May 4th. Raymond James Financial, Inc. reissued an “underperform” rating and issued a $62.82 target price on shares of Level 3 Communications in a research report on Monday, May 15th. BidaskClub raised Level 3 Communications from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 16th. Zacks Investment Research lowered Level 3 Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $59.00 price objective (down previously from $61.00) on shares of Level 3 Communications in a research report on Friday, July 14th. 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 stock. The company has an average rating of “Hold” and a consensus target price of $61.36.

In other news, VP Sunit S. Patel sold 16,653 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $59.10, for a total transaction of $984,192.30. Following the transaction, the vice president now directly owns 545,330 shares of the company’s stock, valued at $32,229,003. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Eric Mortensen sold 1,189 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $59.10, for a total value of $70,269.90. Following the transaction, the senior vice president now directly owns 77,944 shares in the company, valued at $4,606,490.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,224 shares of company stock worth $1,668,038. Insiders own 0.49% of the company’s stock.

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)

What are top analysts saying about Level 3 Communications Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Level 3 Communications Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit