Locust Wood Capital Advisers buys $40,679,517 stake in Level 3 Communications (LVLT)

Level 3 Communications (LVLT) : Locust Wood Capital Advisers scooped up 135,470 additional shares in Level 3 Communications during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 22, 2016. The investment management firm now holds a total of 714,930 shares of Level 3 Communications which is valued at $40,679,517.Level 3 Communications makes up approximately 4.35% of Locust Wood Capital Advisers’s portfolio.

Other Hedge Funds, Including , Meeder Asset Management Inc boosted its stake in LVLT in the latest quarter, The investment management firm added 2,014 additional shares and now holds a total of 10,363 shares of Level 3 Communications which is valued at $589,655. Level 3 Communications makes up approx 0.05% of Meeder Asset Management Inc’s portfolio.Kanaly Trust Co reduced its stake in LVLT by selling 455 shares or 2.65% in the most recent quarter. The Hedge Fund company now holds 16,744 shares of LVLT which is valued at $952,734. Level 3 Communications makes up approx 0.19% of Kanaly Trust Co’s portfolio.Simplex Trading reduced its stake in LVLT by selling 6,103 shares or 73.52% in the most recent quarter. The Hedge Fund company now holds 2,198 shares of LVLT which is valued at $125,682. Level 3 Communications makes up approx 0.02% of Simplex Trading’s portfolio.Dnb Asset Management As boosted its stake in LVLT in the latest quarter, The investment management firm added 400 additional shares and now holds a total of 25,700 shares of Level 3 Communications which is valued at $1,355,161. Level 3 Communications makes up approx 0.03% of Dnb Asset Management As’s portfolio.

Level 3 Communications closed down -0.29 points or -0.57% at $50.6 with 33,28,322 shares getting traded on Friday. Post opening the session at $50.74, the shares hit an intraday low of $50.13 and an intraday high of $50.95 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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 was Downgraded by BofA/Merrill to ” Neutral” on Apr 29, 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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