APG Asset Management N.V. lowered its stake in shares of Level 3 Communications, Inc. (NYSE:LVLT) by 14.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 286,724 shares of the technology company’s stock after selling 49,288 shares during the period. APG Asset Management N.V. owned 0.08% of Level 3 Communications worth $16,406,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hall Laurie J Trustee bought a new position in Level 3 Communications during the fourth quarter valued at approximately $115,000. NN Investment Partners Holdings N.V. increased its position 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. CWM LLC increased its position 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. WFG Advisors LP increased its position in Level 3 Communications by 11,510.0% in the fourth quarter. WFG Advisors LP now owns 3,483 shares of the technology company’s stock valued at $185,000 after buying an additional 3,453 shares during the period. Finally, IFM Investors Pty Ltd bought a new position in Level 3 Communications during the fourth quarter valued at approximately $212,000.
Level 3 Communications, Inc. (NYSE:LVLT) traded up 1.15% on Friday, hitting $59.71. The stock had a trading volume of 1,389,376 shares. The company has a market cap of $21.58 billion, a P/E ratio of 33.77 and a beta of 1.48. The firm’s 50-day moving average is $59.33 and its 200-day moving average is $57.48. Level 3 Communications, Inc. has a 52-week low of $44.01 and a 52-week high of $61.42.
Level 3 Communications (NYSE:LVLT) last announced its quarterly earnings data on Wednesday, May 3rd. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.03. Level 3 Communications had a net margin of 8.15% and a return on equity of 6.34%. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the prior year, the firm earned $0.35 earnings per share. The firm’s quarterly revenue was down .1% on a year-over-year basis. Equities research analysts anticipate that Level 3 Communications, Inc. will post $1.40 earnings per share for the current fiscal year.
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Several brokerages recently issued reports on LVLT. Zacks Investment Research raised Level 3 Communications from a “sell” rating to a “hold” rating in a research note on Monday, January 23rd. Morgan Stanley reissued a “weight” rating and set a $65.00 target price on shares of Level 3 Communications in a research note on Wednesday, March 29th. Jefferies Group LLC decreased their target price on Level 3 Communications from $64.00 to $59.00 and set a “hold” rating on the stock in a research note on Thursday, May 4th. Royal Bank of Canada reissued a “hold” rating and set a $61.00 target price on shares of Level 3 Communications in a research note on Friday, February 10th. Finally, Raymond James Financial, Inc. restated an “underperform” rating and set a $62.82 price target on shares of Level 3 Communications in a report on Monday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $61.80.
In other news, insider Hector Alonso sold 6,899 shares of the company’s stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $57.49, for a total value of $396,623.51. Following the sale, the insider now owns 152,683 shares in the company, valued at approximately $8,777,745.67. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Eric Mortensen sold 925 shares of the company’s stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $57.49, for a total transaction of $53,178.25. Following the completion of the sale, the senior vice president now owns 79,133 shares in the company, valued at approximately $4,549,356.17. The disclosure for this sale can be found here. Insiders have sold a total of 43,491 shares of company stock valued at $2,500,298 over the last three months. Corporate insiders own 0.49% of the company’s stock.
Level 3 Communications Company Profile
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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