Neuberger Berman Group LLC Sells 939 Shares of Level 3 Communications, Inc. (LVLT)

Neuberger Berman Group LLC reduced its stake in shares of Level 3 Communications, Inc. (NYSE:LVLT) by 9.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 8,606 shares of the technology company’s stock after selling 939 shares during the period. Neuberger Berman Group LLC’s holdings in Level 3 Communications were worth $459,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of LVLT. Bessemer Group Inc. boosted its stake in shares of Level 3 Communications by 472.3% in the 3rd quarter. Bessemer Group Inc. now owns 1,877 shares of the technology company’s stock worth $100,000 after buying an additional 1,549 shares during the last quarter. Tiverton Asset Management LLC purchased a new position in shares of Level 3 Communications in the 2nd quarter worth approximately $126,000. Sun Life Financial INC boosted 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 worth $127,000 after buying an additional 2,136 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted 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 worth $137,000 after buying an additional 1,886 shares during the last quarter. Finally, Pinebridge Investments L.P. purchased a new position in shares of Level 3 Communications in the 3rd quarter worth approximately $138,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Level 3 Communications, Inc. (NYSE:LVLT) opened at $53.63 on Thursday. Level 3 Communications, Inc. has a 12 month low of $50.82 and a 12 month high of $64.61. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $19,450.00, a P/E ratio of 30.30 and a beta of 1.14.

Several equities analysts recently commented on the company. BidaskClub upgraded Level 3 Communications from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 27th. Barclays dropped their price objective on 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 equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $61.47.

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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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Institutional Ownership by Quarter for Level 3 Communications (NYSE:LVLT)

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