Level 3 Communications, Inc. (LVLT) Position Maintained by HighVista Strategies LLC

HighVista Strategies LLC held its position in shares of Level 3 Communications, Inc. (NYSE:LVLT) during the first quarter, Holdings Channel reports. The firm owned 255,990 shares of the technology company’s stock at the end of the first quarter. Level 3 Communications accounts for about 3.3% of HighVista Strategies LLC’s holdings, making the stock its 9th largest position. HighVista Strategies LLC’s holdings in Level 3 Communications were worth $14,648,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC raised its position in shares of Level 3 Communications by 5.5% in the first quarter. CWM LLC now owns 3,183 shares of the technology company’s stock valued at $182,000 after buying an additional 166 shares during the period. WFG Advisors LP raised its position in shares of Level 3 Communications by 11,510.0% in the fourth quarter. WFG Advisors LP now owns 3,483 shares of the technology company’s stock valued at $185,000 after buying an additional 3,453 shares during the period. IFM Investors Pty Ltd purchased a new position in shares of Level 3 Communications during the fourth quarter valued at $212,000. KCG Holdings Inc. purchased a new position in shares of Level 3 Communications during the first quarter valued at $212,000. Finally, Warren Averett Asset Management LLC purchased a new position in shares of Level 3 Communications during the first quarter valued at $222,000.

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

Shares of Level 3 Communications, Inc. (NYSE LVLT) traded down 2.77% during mid-day trading on Friday, hitting $62.03. The stock had a trading volume of 8,027,499 shares. The stock has a market cap of $22.42 billion, a P/E ratio of 35.08 and a beta of 1.22. Level 3 Communications, Inc. has a 52 week low of $44.01 and a 52 week high of $64.61. The stock has a 50-day moving average price of $60.57 and a 200 day moving average price of $58.43.

Level 3 Communications (NYSE:LVLT) last posted its earnings results on Wednesday, May 3rd. The technology company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.03. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.04 billion. Level 3 Communications had a net margin of 7.80% and a return on equity of 6.23%. The business’s revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.35 EPS. On average, equities analysts forecast that Level 3 Communications, Inc. will post $1.40 EPS for the current fiscal year.

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Several research analysts recently weighed in on the company. BidaskClub raised Level 3 Communications from a “buy” rating to a “strong-buy” rating in a research report on Friday. Raymond James Financial, Inc. reaffirmed an “underperform” rating and issued a $62.82 target price on shares of Level 3 Communications in a research report on Monday, May 15th. Jefferies Group LLC cut their target price on Level 3 Communications from $64.00 to $59.00 and set a “hold” rating on the stock in a research report on Thursday, May 4th. Morgan Stanley reaffirmed a “weight” rating and issued a $65.00 target price on shares of Level 3 Communications in a research report on Wednesday, March 29th. Finally, Zacks Investment Research raised Level 3 Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Level 3 Communications presently has an average rating of “Hold” and an average target price of $61.80.

In other Level 3 Communications news, EVP John Michael Ryan sold 9,179 shares of the company’s stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $57.49, for a total transaction of $527,700.71. Following the sale, the executive vice president now directly owns 150,921 shares of the company’s stock, valued at $8,676,448.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Sunit S. Patel sold 26,488 shares of the company’s stock in a transaction dated Tuesday, April 4th. The stock was sold at an average price of $57.49, for a total transaction of $1,522,795.12. Following the sale, the vice president now directly owns 561,983 shares in the company, valued at $32,308,402.67. The disclosure for this sale can be found here. In the last three months, insiders sold 43,491 shares of company stock worth $2,500,298. 0.49% of the stock is currently owned by insiders.

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.

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