Wells Fargo & Company MN decreased its holdings in Level 3 Communications, Inc. (NYSE:LVLT) by 24.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 208,548 shares of the technology company’s stock after selling 68,622 shares during the period. Wells Fargo & Company MN owned about 0.06% of Level 3 Communications worth $11,114,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. York Capital Management Global Advisors LLC increased its position in shares of Level 3 Communications by 28.9% during the second quarter. York Capital Management Global Advisors LLC now owns 4,350,004 shares of the technology company’s stock worth $257,955,000 after purchasing an additional 974,832 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Level 3 Communications by 2.6% during the second quarter. Vanguard Group Inc. now owns 29,179,420 shares of the technology company’s stock worth $1,730,339,000 after purchasing an additional 749,109 shares in the last quarter. Pentwater Capital Management LP increased its position in shares of Level 3 Communications by 6.8% during the second quarter. Pentwater Capital Management LP now owns 9,320,000 shares of the technology company’s stock worth $552,676,000 after purchasing an additional 590,000 shares in the last quarter. CNH Partners LLC increased its position in shares of Level 3 Communications by 25.9% during the second quarter. CNH Partners LLC now owns 2,834,210 shares of the technology company’s stock worth $168,069,000 after purchasing an additional 582,936 shares in the last quarter. Finally, Glazer Capital LLC increased its position in shares of Level 3 Communications by 55.2% during the second quarter. Glazer Capital LLC now owns 1,568,009 shares of the technology company’s stock worth $92,983,000 after purchasing an additional 557,954 shares in the last quarter. 98.84% of the stock is owned by institutional investors.

Level 3 Communications, Inc. (NYSE LVLT) opened at $53.63 on Tuesday. The stock has a market capitalization of $19,450.00, a price-to-earnings ratio of 30.30 and a beta of 1.14. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.94. Level 3 Communications, Inc. has a 12-month low of $50.82 and a 12-month high of $64.61.

A number of equities analysts have recently issued reports on LVLT shares. Barclays reduced their price target on Level 3 Communications from $59.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 4th. BidaskClub downgraded Level 3 Communications from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 9th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $61.47.

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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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