Level 3 Communications Inc. (NYSE:LVLT) EVP John Michael Ryan sold 2,170 shares of the firm’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $45.55, for a total value of $98,843.50. Following the completion of the transaction, the executive vice president now owns 114,532 shares of the company’s stock, valued at approximately $5,216,932.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

John Michael Ryan also recently made the following trade(s):

  • On Thursday, September 1st, John Michael Ryan sold 6,000 shares of Level 3 Communications stock. The stock was sold at an average price of $49.61, for a total value of $297,660.00.

Shares of Level 3 Communications Inc. (NYSE:LVLT) opened at 45.62 on Wednesday. The company has a market capitalization of $16.40 billion, a price-to-earnings ratio of 4.58 and a beta of 1.75. Level 3 Communications Inc. has a 12 month low of $41.73 and a 12 month high of $57.59. The stock has a 50 day moving average price of $48.54 and a 200-day moving average price of $51.40.

Level 3 Communications (NYSE:LVLT) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.09. Level 3 Communications had a return on equity of 7.14% and a net margin of 43.75%. The company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same period in the previous year, the firm posted $0.42 EPS. Level 3 Communications’s revenue was up .9% compared to the same quarter last year. Analysts expect that Level 3 Communications Inc. will post $1.66 earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Level 3 Communications (NYSE:LVLT)

Several research analysts have commented on the company. Pacific Crest initiated coverage on Level 3 Communications in a research note on Monday, July 25th. They issued a “sector weight” rating and a $54.00 target price for the company. Morgan Stanley reaffirmed an “overweight” rating on shares of Level 3 Communications in a report on Sunday, July 24th. Wells Fargo & Co. reaffirmed an “overweight” rating and issued a $69.00 price target (up previously from $61.00) on shares of Level 3 Communications in a report on Monday, July 18th. Stephens reaffirmed an “overweight” rating and issued a $63.00 price target on shares of Level 3 Communications in a report on Friday, July 15th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $66.00 price target on shares of Level 3 Communications in a report on Friday, July 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company’s stock. Level 3 Communications presently has an average rating of “Buy” and an average target price of $61.44.

Several hedge funds and other institutional investors have recently modified their holdings of LVLT. Jericho Capital Asset Management L.P. boosted its position in shares of Level 3 Communications by 27.3% in the first quarter. Jericho Capital Asset Management L.P. now owns 2,044,344 shares of the company’s stock valued at $108,044,000 after buying an additional 438,559 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Level 3 Communications by 1,511.2% in the first quarter. Renaissance Technologies LLC now owns 503,873 shares of the company’s stock valued at $26,630,000 after buying an additional 472,600 shares in the last quarter. Carmignac Gestion boosted its position in shares of Level 3 Communications by 15.0% in the second quarter. Carmignac Gestion now owns 7,422,726 shares of the company’s stock valued at $382,196,000 after buying an additional 969,789 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Level 3 Communications by 5.1% in the first quarter. Legal & General Group Plc now owns 1,372,245 shares of the company’s stock valued at $72,525,000 after buying an additional 66,951 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its position in shares of Level 3 Communications by 2.9% in the second quarter. New York State Teachers Retirement System now owns 480,021 shares of the company’s stock valued at $24,716,000 after buying an additional 13,583 shares in the last quarter.

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.

5 Day Chart for NYSE:LVLT

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