Dimensional Fund Advisors LP boosted its position in Level 3 Communications Inc. (NYSE:LVLT) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,010,374 shares of the company’s stock after buying an additional 49,696 shares during the period. Dimensional Fund Advisors LP owned approximately 0.56% of Level 3 Communications worth $103,495,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LVLT. Jericho Capital Asset Management L.P. increased its position in Level 3 Communications by 27.3% in the first quarter. Jericho Capital Asset Management L.P. now owns 2,044,344 shares of the company’s stock worth $108,044,000 after buying an additional 438,559 shares during the period. Renaissance Technologies LLC increased its position in Level 3 Communications by 1,511.2% in the first quarter. Renaissance Technologies LLC now owns 503,873 shares of the company’s stock worth $26,630,000 after buying an additional 472,600 shares during the period. Legal & General Group Plc increased its position in Level 3 Communications by 5.1% in the first quarter. Legal & General Group Plc now owns 1,372,245 shares of the company’s stock worth $72,525,000 after buying an additional 66,951 shares during the period. New York State Teachers Retirement System increased its position in Level 3 Communications by 2.9% in the second quarter. New York State Teachers Retirement System now owns 480,021 shares of the company’s stock worth $24,716,000 after buying an additional 13,583 shares during the period. Finally, Chevy Chase Trust Holdings Inc. increased its position in Level 3 Communications by 2.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 244,356 shares of the company’s stock worth $12,915,000 after buying an additional 5,587 shares during the period.

Level 3 Communications Inc. (NYSE:LVLT) traded down 1.51% during trading on Tuesday, hitting $48.40. The stock had a trading volume of 1,076,506 shares. The company has a 50-day moving average price of $49.35 and a 200-day moving average price of $51.75. Level 3 Communications Inc. has a 52-week low of $40.86 and a 52-week high of $57.59. The company has a market cap of $17.40 billion, a price-to-earnings ratio of 4.86 and a beta of 1.80.

Level 3 Communications (NYSE:LVLT) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09. Level 3 Communications had a return on equity of 7.14% and a net margin of 43.75%. The firm had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same period in the previous year, the firm posted $0.42 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts forecast that Level 3 Communications Inc. will post $1.66 EPS for the current year.

A number of research analysts recently weighed in on LVLT shares. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Level 3 Communications in a research note on Monday, September 12th. Morgan Stanley reaffirmed an “overweight” rating on shares of Level 3 Communications in a research note on Sunday, July 24th. Stephens reissued an “overweight” rating and issued a $63.00 price objective on shares of Level 3 Communications in a research note on Friday, July 15th. Zacks Investment Research raised Level 3 Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, July 5th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $66.00 price objective on shares of Level 3 Communications in a research note on Friday, July 15th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $61.47.

In related news, insider Andrew Crouch sold 4,200 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $50.34, for a total value of $211,428.00. Following the completion of the transaction, the insider now directly owns 130,905 shares in the company, valued at approximately $6,589,757.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Michael Ryan sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $49.61, for a total transaction of $297,660.00. Following the completion of the transaction, the executive vice president now owns 109,956 shares of the company’s stock, valued at $5,454,917.16. The disclosure for this sale can be found here. 0.49% of the stock is owned by insiders.

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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