Level 3 Communications, Inc. (NYSE:LVLT) EVP John Michael Ryan sold 9,179 shares of the company’s stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $57.49, for a total transaction of $527,700.71. Following the transaction, the executive vice president now owns 150,921 shares in the company, valued at approximately $8,676,448.29. The sale was disclosed in a filing with the SEC, which is available at this link.
John Michael Ryan also recently made the following trade(s):
- On Thursday, February 2nd, John Michael Ryan sold 4,908 shares of Level 3 Communications stock. The stock was sold at an average price of $58.65, for a total transaction of $287,854.20.
Level 3 Communications, Inc. (NYSE:LVLT) traded down 0.28% during trading on Friday, hitting $60.07. 1,431,692 shares of the stock traded hands. The company’s 50 day moving average price is $57.46 and its 200-day moving average price is $55.62. Level 3 Communications, Inc. has a 52-week low of $44.01 and a 52-week high of $60.40. The stock has a market cap of $21.67 billion, a P/E ratio of 32.12 and a beta of 1.48.
Level 3 Communications (NYSE:LVLT) last announced its quarterly earnings results on Wednesday, February 8th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.16. The business earned $2.03 billion during the quarter, compared to analyst estimates of $2.06 billion. Level 3 Communications had a return on equity of 6.34% and a net margin of 8.15%. Equities research analysts forecast that Level 3 Communications, Inc. will post $1.51 earnings per share for the current fiscal year.
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Several large investors have recently made changes to their positions in the stock. Hall Laurie J Trustee purchased a new stake in shares of Level 3 Communications during the fourth quarter valued at about $115,000. NN Investment Partners Holdings N.V. raised its stake in Level 3 Communications by 22.7% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 2,165 shares of the technology company’s stock valued at $122,000 after buying an additional 400 shares during the period. Global X Management Co. LLC raised its stake in Level 3 Communications by 70.8% in the third quarter. Global X Management Co. LLC now owns 3,349 shares of the technology company’s stock valued at $155,000 after buying an additional 1,388 shares during the period. Mercer Capital Advisers Inc. raised its stake in Level 3 Communications by 251.2% in the third quarter. Mercer Capital Advisers Inc. now owns 3,775 shares of the technology company’s stock valued at $175,000 after buying an additional 2,700 shares during the period. Finally, CWM LLC raised its stake in Level 3 Communications by 5.5% in the first quarter. CWM LLC now owns 3,183 shares of the technology company’s stock valued at $182,000 after buying an additional 166 shares during the period.
A number of analysts have recently weighed in on LVLT shares. Zacks Investment Research upgraded shares of Level 3 Communications from a “sell” rating to a “hold” rating in a research note on Monday, January 23rd. Morgan Stanley reiterated a “weight” rating and issued a $65.00 price objective on shares of Level 3 Communications in a research note on Wednesday, March 29th. Royal Bank of Canada reiterated a “hold” rating and issued a $61.00 price objective on shares of Level 3 Communications in a research note on Friday, February 10th. Finally, Jefferies Group LLC raised their price target on shares of Level 3 Communications from $50.00 to $64.00 and gave the company a “hold” rating in a research report on Wednesday, January 25th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $61.92.
About Level 3 Communications
Level 3 Communications, Inc is a provider of a range of integrated communications services. The Company’s operating segments include North America, EMEA and Latin America. The North America includes operations in Atlanta, Georgia; Littleton, Colorado; Miami, Florida; Montreal, Canada; New York, New York; Phoenix, Arizona; Pittsburgh, Pennsylvania; Southfield, Michigan, and Tulsa, Oklahoma.
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