Pacer Advisors Inc. Boosts Position in Level 3 Communications, Inc. (LVLT)

Pacer Advisors Inc. boosted its holdings in Level 3 Communications, Inc. (NYSE:LVLT) by 48.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 7,437 shares of the technology company’s stock after buying an additional 2,426 shares during the period. Pacer Advisors Inc.’s holdings in Level 3 Communications were worth $396,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Virtu KCG Holdings LLC grew its position 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 acquiring an additional 17 shares in the last quarter. MAI Capital Management grew its position in Level 3 Communications by 1.7% in the second 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 in the last quarter. Cadence Capital Management LLC grew its position in Level 3 Communications by 0.8% in the second 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 in the last quarter. Wetherby Asset Management Inc. grew its position in Level 3 Communications by 3.5% in the second 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 in the last quarter. Finally, Sentry Investment Management LLC grew its position in Level 3 Communications by 1.1% in the second 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 in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Level 3 Communications, Inc. (LVLT) traded up $0.93 during mid-day trading on Monday, hitting $53.63. 3,119,100 shares of the stock were exchanged, compared to its average volume of 2,423,731. Level 3 Communications, Inc. has a twelve month low of $50.82 and a twelve month high of $64.61. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.79 and a quick ratio of 1.79.

Several brokerages have issued reports on LVLT. BidaskClub downgraded shares of Level 3 Communications from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Barclays lowered their price objective on shares of Level 3 Communications from $59.00 to $53.00 and set an “equal weight” rating for the company in a research 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 research report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average 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.

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

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