Commonwealth Equity Services Inc trimmed its holdings in shares of Level 3 Communications, Inc. (NYSE:LVLT) by 24.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,388 shares of the technology company’s stock after selling 1,450 shares during the quarter. Commonwealth Equity Services Inc’s holdings in Level 3 Communications were worth $233,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the business. Quantitative Systematic Strategies LLC raised its stake in shares of Level 3 Communications by 26.6% in the third quarter. Quantitative Systematic Strategies LLC now owns 4,770 shares of the technology company’s stock valued at $254,000 after acquiring an additional 1,003 shares during the last quarter. Toronto Dominion Bank grew its holdings in Level 3 Communications by 11.3% during the 3rd quarter. Toronto Dominion Bank now owns 125,205 shares of the technology company’s stock worth $6,672,000 after acquiring an additional 12,671 shares during the period. Hosking Partners LLP grew its holdings in Level 3 Communications by 1.6% during the 2nd quarter. Hosking Partners LLP now owns 418,978 shares of the technology company’s stock worth $24,845,000 after acquiring an additional 6,665 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Level 3 Communications by 5.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,487,110 shares of the technology company’s stock valued at $88,186,000 after buying an additional 78,087 shares during the period. Finally, KBC Group NV grew its holdings in shares of Level 3 Communications by 1.4% in the 2nd quarter. KBC Group NV now owns 31,211 shares of the technology company’s stock valued at $1,851,000 after buying an additional 444 shares during the period. 98.84% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on LVLT shares. Zacks Investment Research raised shares of Level 3 Communications from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. BidaskClub cut shares of Level 3 Communications from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Finally, Barclays decreased their price target on shares of Level 3 Communications from $59.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $61.55.
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Level 3 Communications 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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