Magnetar Financial LLC trimmed its position in shares of Level 3 Communications, Inc. (NYSE:LVLT) by 13.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,196,236 shares of the technology company’s stock after selling 492,584 shares during the quarter. Level 3 Communications makes up about 3.8% of Magnetar Financial LLC’s investment portfolio, making the stock its 2nd largest holding. Magnetar Financial LLC owned approximately 0.88% of Level 3 Communications worth $170,327,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in shares of Level 3 Communications by 472.3% during the 3rd quarter. Bessemer Group Inc. now owns 1,877 shares of the technology company’s stock valued at $100,000 after buying an additional 1,549 shares during the last quarter. Tiverton Asset Management LLC bought a new position in shares of Level 3 Communications in the 2nd quarter valued at approximately $126,000. Sun Life Financial INC raised its stake in shares of Level 3 Communications by 23,733.3% in the 2nd quarter. Sun Life Financial INC now owns 2,145 shares of the technology company’s stock valued at $127,000 after acquiring an additional 2,136 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of Level 3 Communications by 449.0% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,306 shares of the technology company’s stock valued at $137,000 after acquiring an additional 1,886 shares in the last quarter. Finally, Pinebridge Investments L.P. bought a new position in shares of Level 3 Communications in the 3rd quarter valued at approximately $138,000. Institutional investors and hedge funds own 98.84% of the company’s stock.
Level 3 Communications, Inc. (NYSE:LVLT) traded up $0.93 on Wednesday, hitting $53.63. The stock had a trading volume of 3,119,100 shares, compared to its average volume of 2,423,731. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.94. Level 3 Communications, Inc. has a 1-year low of $50.82 and a 1-year high of $64.61.
ILLEGAL ACTIVITY NOTICE: This piece was reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. and international copyright & trademark law. The legal version of this piece can be viewed at https://www.chaffeybreeze.com/2017/12/06/magnetar-financial-llc-sells-492584-shares-of-level-3-communications-inc-lvlt.html.
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.
Receive News & Ratings for Level 3 Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Level 3 Communications Inc. and related companies with MarketBeat.com's FREE daily email newsletter.