Level 3 Communications (LVLT) : Southeastern Asset Management Inctn reduced its stake in Level 3 Communications by 5.38% during the most recent quarter end. The investment management company now holds a total of 28,393,466 shares of Level 3 Communications which is valued at $1,412,007,064 after selling 1,614,306 shares in Level 3 Communications , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Level 3 Communications makes up approximately 13.76% of Southeastern Asset Management Inctn’s portfolio.
Other Hedge Funds, Including , Norges Bank boosted its stake in LVLT in the latest quarter, The investment management firm added 1,000,015 additional shares and now holds a total of 4,024,041 shares of Level 3 Communications which is valued at $200,115,559. Level 3 Communications makes up approx 0.09% of Norges Bank’s portfolio.Meridian Management Co boosted its stake in LVLT in the latest quarter, The investment management firm added 160 additional shares and now holds a total of 51,040 shares of Level 3 Communications which is valued at $2,538,219. Level 3 Communications makes up approx 1.48% of Meridian Management Co’s portfolio.Nippon Life Insurance Co reduced its stake in LVLT by selling 515 shares or 2.08% in the most recent quarter. The Hedge Fund company now holds 24,267 shares of LVLT which is valued at $1,195,635. Level 3 Communications makes up approx 0.03% of Nippon Life Insurance Co’s portfolio.Sol Capital Management Co reduced its stake in LVLT by selling 533 shares or 5.52% in the most recent quarter. The Hedge Fund company now holds 9,131 shares of LVLT which is valued at $462,029. Level 3 Communications makes up approx 0.14% of Sol Capital Management Co’s portfolio.
Level 3 Communications opened for trading at $49.34 and hit $49.69 on the upside on Monday, eventually ending the session at $49.63, with a gain of 0.71% or 0.35 points. The heightened volatility saw the trading volume jump to 12,34,108 shares. Company has a market cap of $17,843 M.
On the company’s financial health, Level 3 Communications reported $0.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.45. The company had revenue of $2056.00 million for the quarter, compared to analysts expectations of $2078.64 million. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS.
Many Wall Street Analysts have commented on Level 3 Communications. Level 3 Communications was Upgraded by MoffettNathanson to ” Buy” on Aug 24, 2016. Level 3 Communications was Downgraded by JP Morgan to ” Neutral” on Jul 28, 2016. Level 3 Communications was Initiated by Pacific Crest to “Sector Weight” on Jul 25, 2016.
Level 3 Communications Inc. is a provider of a range of integrated communications services. The Companys operating segments include North America includes operations in Georgia Colorado Florida Canada New York Arizona Pennsylvania Michigan and Oklahoma; Europe includes operations in England Ireland The Netherlands and France; The Latin America includes operations in Colombia Argentina Venezuela Peru Ecuador Chile and Brazil. The Asia or Pacific includes operations in China Singapore and Japan. The tw telecom inc. (tw telecom) is an indirect wholly owned subsidiary of the Company. The Company offers services which includes core network services and wholesale voice services. It offers products which include core network services including transport and fiber services colocation and data center services IP and data services managed services cloud and IT services voice services and wholesale voice services including voice termination and toll free.