ARP Americas LLC raised its position in Level 3 Communications, Inc. (NYSE:LVLT) by 32.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 169,793 shares of the technology company’s stock after buying an additional 41,408 shares during the period. Level 3 Communications accounts for about 2.7% of ARP Americas LLC’s portfolio, making the stock its 16th largest position. ARP Americas LLC’s holdings in Level 3 Communications were worth $10,069,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Korea Investment CORP boosted its stake in Level 3 Communications by 21.3% in the second quarter. Korea Investment CORP now owns 321,322 shares of the technology company’s stock worth $19,054,000 after buying an additional 56,467 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Level 3 Communications by 4.8% in the second quarter. Daiwa Securities Group Inc. now owns 8,750 shares of the technology company’s stock worth $519,000 after buying an additional 400 shares during the last quarter. Honkamp Krueger Financial Services Inc. boosted its stake in Level 3 Communications by 2.2% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 4,858 shares of the technology company’s stock worth $288,000 after buying an additional 105 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Level 3 Communications by 5.1% in the second quarter. Janney Montgomery Scott LLC now owns 21,629 shares of the technology company’s stock worth $1,283,000 after buying an additional 1,050 shares during the last quarter. Finally, IBM Retirement Fund boosted its stake in Level 3 Communications by 121.5% in the second quarter. IBM Retirement Fund now owns 7,218 shares of the technology company’s stock worth $478,000 after buying an additional 3,960 shares during the last quarter.

Level 3 Communications, Inc. (LVLT) opened at 57.38 on Friday. Level 3 Communications, Inc. has a one year low of $44.01 and a one year high of $64.61. The stock has a 50 day moving average price of $59.51 and a 200 day moving average price of $58.93. The firm has a market cap of $20.79 billion, a PE ratio of 33.03 and a beta of 1.23.

Level 3 Communications (NYSE:LVLT) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.03. Level 3 Communications had a net margin of 7.85% and a return on equity of 5.80%. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the firm earned $0.53 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. Equities research analysts expect that Level 3 Communications, Inc. will post $1.43 EPS for the current year.

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A number of research firms have recently weighed in on LVLT. BidaskClub raised Level 3 Communications from a “sell” rating to a “hold” rating in a research report on Wednesday. UBS AG reissued a “buy” rating and issued a $68.00 price objective (down previously from $71.00) on shares of Level 3 Communications in a research report on Tuesday, July 18th. Barclays PLC reaffirmed an “equal weight” rating and set a $59.00 price target (down previously from $61.00) on shares of Level 3 Communications in a research report on Friday, July 14th. Zacks Investment Research cut Level 3 Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, Raymond James Financial, Inc. reaffirmed an “underperform” rating and set a $62.82 price target on shares of Level 3 Communications in a research report on Monday, May 15th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $61.49.

In other news, SVP Eric Mortensen sold 1,189 shares of the stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $59.10, for a total transaction of $70,269.90. Following the completion of the sale, the senior vice president now owns 77,944 shares in the company, valued at $4,606,490.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Hector Alonso sold 4,455 shares of the stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $59.10, for a total transaction of $263,290.50. Following the sale, the insider now owns 148,228 shares of the company’s stock, valued at approximately $8,760,274.80. The disclosure for this sale can be found here. Insiders have sold 28,224 shares of company stock valued at $1,668,038 in the last quarter. Insiders own 0.49% of the company’s stock.

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.

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

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