American International Group Inc. decreased its holdings in shares of Level 3 Communications, Inc. (NYSE:LVLT) by 11.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,391 shares of the technology company’s stock after selling 13,227 shares during the period. American International Group Inc.’s holdings in Level 3 Communications were worth $5,510,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LVLT. Davidson Investment Advisors boosted its stake in Level 3 Communications by 30.7% in the 3rd quarter. Davidson Investment Advisors now owns 230,265 shares of the technology company’s stock worth $12,270,000 after purchasing an additional 54,023 shares during the period. Norinchukin Bank The raised its holdings in shares of Level 3 Communications by 7.6% in the 3rd quarter. Norinchukin Bank The now owns 21,866 shares of the technology company’s stock valued at $1,165,000 after purchasing an additional 1,553 shares during the period. ING Groep NV raised its holdings in shares of Level 3 Communications by 40.9% in the 3rd quarter. ING Groep NV now owns 31,763 shares of the technology company’s stock valued at $1,693,000 after purchasing an additional 9,218 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Level 3 Communications by 2.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,625 shares of the technology company’s stock valued at $3,870,000 after buying an additional 1,865 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in Level 3 Communications by 48.4% in the 3rd quarter. Pacer Advisors Inc. now owns 7,437 shares of the technology company’s stock valued at $396,000 after buying an additional 2,426 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Level 3 Communications, Inc. (NYSE:LVLT) traded up $0.93 during trading hours on Tuesday, reaching $53.63. 3,119,100 shares of the company’s stock were exchanged, compared to its average volume of 2,423,731. 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.

A number of research analysts have issued reports on the stock. BidaskClub lowered shares of Level 3 Communications from a “sell” rating to a “strong sell” rating in a research report on Friday, October 20th. Barclays dropped 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 note 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 note on Monday, August 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The company has an average 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.

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

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