Capwealth Advisors Lowers stake in Level 3 Communications (LVLT)

Level 3 Communications (LVLT) : Capwealth Advisors reduced its stake in Level 3 Communications by 0.73% during the most recent quarter end. The investment management company now holds a total of 458,089 shares of Level 3 Communications which is valued at $22,570,045 after selling 3,380 shares in Level 3 Communications , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Level 3 Communications makes up approximately 5.38% of Capwealth Advisors’s portfolio.

Other Hedge Funds, Including , Diam Ltd. reduced its stake in LVLT by selling 15,820 shares or 32.14% in the most recent quarter. The Hedge Fund company now holds 33,402 shares of LVLT which is valued at $1,645,717. Level 3 Communications makes up approx 0.02% of Diam Ltd.’s portfolio.Ls Investment Advisors boosted its stake in LVLT in the latest quarter, The investment management firm added 892 additional shares and now holds a total of 8,861 shares of Level 3 Communications which is valued at $504,191. Level 3 Communications makes up approx 0.03% of Ls Investment Advisors’s portfolio.Ibm Retirement Fund boosted its stake in LVLT in the latest quarter, The investment management firm added 435 additional shares and now holds a total of 34,655 shares of Level 3 Communications which is valued at $1,971,870. Level 3 Communications makes up approx 0.07% of Ibm Retirement Fund’s portfolio.Davenport Co reduced its stake in LVLT by selling 1,695 shares or 3.23% in the most recent quarter. The Hedge Fund company now holds 50,788 shares of LVLT which is valued at $2,859,364. Level 3 Communications makes up approx 0.04% of Davenport Co’s portfolio.Chevy Chase Trust Holdings boosted its stake in LVLT in the latest quarter, The investment management firm added 3,781 additional shares and now holds a total of 248,137 shares of Level 3 Communications which is valued at $13,084,264. Level 3 Communications makes up approx 0.07% of Chevy Chase Trust Holdings’s portfolio.

Level 3 Communications opened for trading at $49.54 and hit $50.45 on the upside on Monday, eventually ending the session at $50.07, with a gain of 1.62% or 0.8 points. The heightened volatility saw the trading volume jump to 34,23,433 shares. Company has a market cap of $17,922 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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