Bessemer Group Inc. boosted its stake in shares of Level 3 Communications, Inc. (NYSE:LVLT) by 472.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,877 shares of the technology company’s stock after buying an additional 1,549 shares during the period. Bessemer Group Inc.’s holdings in Level 3 Communications were worth $100,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Swiss National Bank boosted its stake in Level 3 Communications by 3.5% during the third quarter. Swiss National Bank now owns 1,217,901 shares of the technology company’s stock worth $64,902,000 after buying an additional 41,300 shares during the last quarter. Harvest Management LLC raised its holdings in shares of Level 3 Communications by 131.6% in the 3rd quarter. Harvest Management LLC now owns 140,800 shares of the technology company’s stock valued at $7,503,000 after buying an additional 80,000 shares during the period. Prudential Financial Inc. raised its holdings in shares of Level 3 Communications by 0.4% in the 3rd quarter. Prudential Financial Inc. now owns 413,197 shares of the technology company’s stock valued at $22,019,000 after buying an additional 1,810 shares during the period. IndexIQ Advisors LLC raised its holdings in shares of Level 3 Communications by 19.0% in the 3rd quarter. IndexIQ Advisors LLC now owns 198,857 shares of the technology company’s stock valued at $10,597,000 after buying an additional 31,808 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Level 3 Communications by 17.8% in the 3rd quarter. American Century Companies Inc. now owns 3,544,068 shares of the technology company’s stock valued at $188,863,000 after buying an additional 534,629 shares during the period. 98.84% of the stock is currently owned by institutional investors.

Shares of Level 3 Communications, Inc. (NYSE LVLT) opened at $53.63 on Tuesday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.94. Level 3 Communications, Inc. has a 1-year low of $50.82 and a 1-year high of $64.61.

LVLT has been the topic of several research analyst reports. Barclays PLC cut their price objective on Level 3 Communications from $59.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 4th. Zacks Investment Research upgraded Level 3 Communications from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Finally, BidaskClub downgraded Level 3 Communications from a “sell” rating to a “strong sell” rating in a report on Saturday, September 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Level 3 Communications presently has an average rating of “Hold” and an average price target of $61.55.

TRADEMARK VIOLATION WARNING: “Bessemer Group Inc. Buys 1,549 Shares of Level 3 Communications, Inc. (LVLT)” was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this report on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark legislation. The legal version of this report can be accessed at https://www.thecerbatgem.com/2017/11/21/bessemer-group-inc-buys-1549-shares-of-level-3-communications-inc-lvlt.html.

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.

Want to see what other hedge funds are holding LVLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Level 3 Communications, Inc. (NYSE:LVLT).

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

Receive News & Stock Ratings for Level 3 Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Level 3 Communications Inc. and related stocks with our FREE daily email newsletter.