Stevens Capital Management LP lowered its holdings in shares of Level 3 Communications, Inc. (NYSE:LVLT) by 4.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,191 shares of the technology company’s stock after selling 8,071 shares during the quarter. Stevens Capital Management LP’s holdings in Level 3 Communications were worth $9,203,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Level 3 Communications by 3.1% during the first quarter. Vanguard Group Inc. now owns 28,430,311 shares of the technology company’s stock worth $1,626,782,000 after purchasing an additional 866,828 shares during the period. BlackRock Inc. raised its position in shares of Level 3 Communications by 0.8% during the second quarter. BlackRock Inc. now owns 18,083,573 shares of the technology company’s stock worth $1,072,356,000 after purchasing an additional 148,953 shares during the period. State Street Corp raised its position in shares of Level 3 Communications by 2.2% during the first quarter. State Street Corp now owns 11,601,301 shares of the technology company’s stock worth $663,825,000 after purchasing an additional 254,886 shares during the period. Pentwater Capital Management LP raised its position in shares of Level 3 Communications by 1.6% during the first quarter. Pentwater Capital Management LP now owns 8,730,000 shares of the technology company’s stock worth $499,531,000 after purchasing an additional 140,000 shares during the period. Finally, Fiduciary Management Inc. WI raised its position in shares of Level 3 Communications by 39.9% during the first quarter. Fiduciary Management Inc. WI now owns 7,787,706 shares of the technology company’s stock worth $445,613,000 after purchasing an additional 2,220,086 shares during the period. 98.74% of the stock is currently owned by institutional investors.

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A number of research firms recently issued reports on LVLT. BidaskClub downgraded Level 3 Communications from a “sell” rating to a “strong sell” rating in a report on Saturday, September 9th. Zacks Investment Research upgraded Level 3 Communications from a “sell” rating to a “hold” rating in a report on Monday, August 7th. UBS AG reiterated a “buy” rating and set a $68.00 price objective (down from $71.00) on shares of Level 3 Communications in a report on Tuesday, July 18th. Finally, Barclays PLC reiterated an “equal weight” rating and set a $59.00 price objective (down from $61.00) on shares of Level 3 Communications in a report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. Level 3 Communications currently has an average rating of “Hold” and a consensus target price of $61.67.

Level 3 Communications, Inc. (NYSE LVLT) traded up 0.83% on Friday, reaching $53.37. The company’s stock had a trading volume of 2,197,770 shares. The firm’s 50-day moving average price is $55.06 and its 200 day moving average price is $58.07. Level 3 Communications, Inc. has a 52-week low of $44.01 and a 52-week high of $64.61. The company has a market cap of $19.36 billion, a P/E ratio of 30.36 and a beta of 1.23.

Level 3 Communications (NYSE:LVLT) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. Level 3 Communications had a return on equity of 5.80% and a net margin of 7.85%. The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the business earned $0.53 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts anticipate that Level 3 Communications, Inc. will post $1.43 EPS for the current fiscal year.

In other news, SVP Eric Mortensen sold 1,189 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 77,944 shares of the company’s stock, valued at $4,606,490.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Sunit S. Patel sold 16,653 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $59.10, for a total value of $984,192.30. Following the completion of the sale, the vice president now directly owns 545,330 shares of the company’s stock, valued at $32,229,003. 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. 0.49% of the stock is owned by company insiders.

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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