Trexquant Investment LP Acquires New Holdings in Level 3 Communications, Inc. (LVLT)

Trexquant Investment LP acquired a new position in Level 3 Communications, Inc. (NYSE:LVLT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,230 shares of the technology company’s stock, valued at approximately $439,000.

Other hedge funds also recently bought and sold shares of the company. Virtu KCG Holdings LLC lifted its holdings in Level 3 Communications by 0.5% in the 2nd quarter. Virtu KCG Holdings LLC now owns 3,723 shares of the technology company’s stock valued at $221,000 after acquiring an additional 17 shares during the last quarter. MAI Capital Management lifted its holdings in Level 3 Communications by 1.7% in the 2nd quarter. MAI Capital Management now owns 5,314 shares of the technology company’s stock valued at $315,000 after acquiring an additional 90 shares during the last quarter. Cadence Capital Management LLC lifted its holdings in Level 3 Communications by 0.8% in the 2nd quarter. Cadence Capital Management LLC now owns 11,455 shares of the technology company’s stock valued at $679,000 after acquiring an additional 96 shares during the last quarter. Wetherby Asset Management Inc. lifted its holdings in Level 3 Communications by 3.5% in the 2nd quarter. Wetherby Asset Management Inc. now owns 4,271 shares of the technology company’s stock valued at $253,000 after acquiring an additional 145 shares during the last quarter. Finally, Sentry Investment Management LLC lifted its holdings in Level 3 Communications by 1.1% in the 2nd quarter. Sentry Investment Management LLC now owns 22,339 shares of the technology company’s stock valued at $1,325,000 after acquiring an additional 234 shares during the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

Level 3 Communications, Inc. (LVLT) remained flat at $$53.63 during mid-day trading on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.94.

A number of equities research analysts have weighed in on LVLT shares. BidaskClub downgraded shares of Level 3 Communications from a “sell” rating to a “strong sell” rating in a report on Friday, October 20th. Barclays cut their price target on shares of Level 3 Communications from $59.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, October 4th. Finally, Zacks Investment Research raised shares of Level 3 Communications from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $61.55.

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

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