Bruni J V Co Co Lowers stake in Level 3 Communications (LVLT)

Level 3 Communications (LVLT) : Bruni J V Co Co reduced its stake in Level 3 Communications by 0.56% during the most recent quarter end. The investment management company now holds a total of 666,763 shares of Level 3 Communications which is valued at $33,158,124 after selling 3,786 shares in Level 3 Communications , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Level 3 Communications makes up approximately 6.22% of Bruni J V Co Co’s portfolio.

Other Hedge Funds, Including , High Pointe Capital Management reduced its stake in LVLT by selling 1,500 shares or 7.22% in the most recent quarter. The Hedge Fund company now holds 19,290 shares of LVLT which is valued at $967,201. Level 3 Communications makes up approx 1.36% of High Pointe Capital Management’s portfolio.Systematic Financial Management Lp reduced its stake in LVLT by selling 277,910 shares or 9.15% in the most recent quarter. The Hedge Fund company now holds 2,758,135 shares of LVLT which is valued at $138,099,819. Level 3 Communications makes up approx 1.79% of Systematic Financial Management Lp’s portfolio.Tarbox Group reduced its stake in LVLT by selling 67 shares or 53.6% in the most recent quarter. The Hedge Fund company now holds 58 shares of LVLT which is valued at $2,935. North Star Investment Management Corp. sold out all of its stake in LVLT during the most recent quarter. The investment firm sold 6 shares of LVLT which is valued $338.

Level 3 Communications opened for trading at $48.11 and hit $48.59 on the upside on Friday, eventually ending the session at $48.54, with a gain of 0.21% or 0.1 points. The heightened volatility saw the trading volume jump to 20,88,735 shares. Company has a market cap of $17,451 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 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 Company’s 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.

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