Level 3 Communications (LVLT) : Systematic Financial Management Lp reduced its stake in Level 3 Communications by 9.15% during the most recent quarter end. The investment management company now holds a total of 2,758,135 shares of Level 3 Communications which is valued at $138,099,819 after selling 277,910 shares in Level 3 Communications , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Level 3 Communications makes up approximately 1.79% of Systematic Financial Management Lp’s portfolio.
Other Hedge Funds, Including , Ubs Asset Management Americas Inc boosted its stake in LVLT in the latest quarter, The investment management firm added 4,315 additional shares and now holds a total of 687,279 shares of Level 3 Communications which is valued at $34,460,169. Level 3 Communications makes up approx 0.04% of Ubs Asset Management Americas Inc’s portfolio.Sumitomo Mitsui Asset Management Company Ltd boosted its stake in LVLT in the latest quarter, The investment management firm added 290 additional shares and now holds a total of 23,059 shares of Level 3 Communications which is valued at $1,166,785. Level 3 Communications makes up approx 0.03% of Sumitomo Mitsui Asset Management Company Ltd’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.Conning boosted its stake in LVLT in the latest quarter, The investment management firm added 410 additional shares and now holds a total of 8,190 shares of Level 3 Communications which is valued at $431,204. Level 3 Communications makes up approx 0.02% of Conning’s portfolio.
Level 3 Communications closed down -0.17 points or -0.35% at $48.52 with 23,51,781 shares getting traded on Wednesday. Post opening the session at $48.9, the shares hit an intraday low of $48.035 and an intraday high of $48.964 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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 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.