Scge Management Exits Position in Level 3 Communications (LVLT)

Level 3 Communications (LVLT) : Scge Management has sold out all of its stake in Level 3 Communications during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 150,000 shares of Level 3 Communications which is valued at $7,459,500.

Other Hedge Funds, Including , J. Goldman Co Lp added LVLT to its portfolio by purchasing 21,700 company shares during the most recent quarter which is valued at $1,079,141. Level 3 Communications makes up approx 0.11% of J. Goldman Co Lp’s portfolio. Riverhead Capital Management sold out all of its stake in LVLT during the most recent quarter. The investment firm sold 38,153 shares of LVLT which is valued $1,897,349.Blackrock Institutional Trust Company N.a. boosted its stake in LVLT in the latest quarter, The investment management firm added 691,962 additional shares and now holds a total of 8,053,639 shares of Level 3 Communications which is valued at $400,507,467. Level 3 Communications makes up approx 0.06% of Blackrock Institutional Trust Company N.a.’s portfolio.

Level 3 Communications opened for trading at $49.52 and hit $49.83 on the upside on Thursday, eventually ending the session at $49.73, with a gain of 0.20% or 0.1 points. The heightened volatility saw the trading volume jump to 22,65,074 shares. Company has a market cap of $17,879 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 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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