Exxonmobil Investment Management Inc. TX decreased its position in shares of Level 3 Communications Inc. (NYSE:LVLT) by 0.9% during the third quarter, Holdings Channel reports. The institutional investor owned 74,358 shares of the company’s stock after selling 689 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Level 3 Communications were worth $3,449,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Global X Management Co. LLC increased its stake in Level 3 Communications by 37.0% in the second quarter. Global X Management Co. LLC now owns 1,961 shares of the company’s stock valued at $101,000 after buying an additional 530 shares during the last quarter. Hall Laurie J Trustee increased its stake in Level 3 Communications by 14.6% in the second quarter. Hall Laurie J Trustee now owns 1,963 shares of the company’s stock valued at $104,000 after buying an additional 250 shares during the last quarter. Bellwether Investment Group LLC purchased a new stake in Level 3 Communications during the second quarter valued at $105,000. Capital Guardian Trust Co. increased its stake in Level 3 Communications by 105.0% in the second quarter. Capital Guardian Trust Co. now owns 2,550 shares of the company’s stock valued at $131,000 after buying an additional 1,306 shares during the last quarter. Finally, Feltz Wealth PLAN Inc. purchased a new stake in Level 3 Communications during the second quarter valued at $103,000.

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

Shares of Level 3 Communications Inc. (NYSE:LVLT) traded down 1.06% on Tuesday, hitting $56.17. The stock had a trading volume of 1,727,620 shares. The company has a market cap of $20.22 billion, a price-to-earnings ratio of 5.43 and a beta of 1.60. Level 3 Communications Inc. has a one year low of $41.73 and a one year high of $57.59. The firm’s 50-day moving average is $51.50 and its 200-day moving average is $50.98.

Level 3 Communications (NYSE:LVLT) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.04. The company earned $2.03 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Level 3 Communications had a net margin of 45.64% and a return on equity of 6.18%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 earnings per share. On average, analysts expect that Level 3 Communications Inc. will post $1.59 EPS for the current fiscal year.

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A number of equities analysts have commented on LVLT shares. Jefferies Group reiterated a “buy” rating on shares of Level 3 Communications in a report on Saturday, August 6th. BTIG Research started coverage on shares of Level 3 Communications in a report on Monday, August 8th. They issued a “buy” rating and a $63.00 target price for the company. Moffett Nathanson upgraded shares of Level 3 Communications from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Wednesday, August 24th. Goldman Sachs Group Inc. restated a “buy” rating on shares of Level 3 Communications in a report on Monday, September 12th. Finally, Zacks Investment Research downgraded shares of Level 3 Communications from a “hold” rating to a “strong sell” rating in a report on Monday, September 26th. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $61.31.

In other news, EVP John Michael Ryan sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $49.61, for a total transaction of $297,660.00. Following the transaction, the executive vice president now directly owns 109,956 shares in the company, valued at $5,454,917.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Hector Alonso sold 1,625 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $45.80, for a total transaction of $74,425.00. Following the transaction, the insider now owns 123,853 shares in the company, valued at $5,672,467.40. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by company 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.

5 Day Chart for NYSE:LVLT

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