Sentry Investment Management LLC lifted its holdings in shares of Level 3 Communications, Inc. (NYSE:LVLT) by 1.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,339 shares of the technology company’s stock after acquiring an additional 234 shares during the quarter. Sentry Investment Management LLC’s holdings in Level 3 Communications were worth $1,325,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP grew its stake in Level 3 Communications by 83.6% in the first quarter. Wellington Management Group LLP now owns 112,601 shares of the technology company’s stock worth $6,443,000 after purchasing an additional 51,267 shares during the period. Ngam Advisors L.P. grew its stake in Level 3 Communications by 8.7% in the first quarter. Ngam Advisors L.P. now owns 21,204 shares of the technology company’s stock worth $1,213,000 after purchasing an additional 1,697 shares during the period. Global X Management Co. LLC grew its stake in Level 3 Communications by 26.0% in the first quarter. Global X Management Co. LLC now owns 4,178 shares of the technology company’s stock worth $239,000 after purchasing an additional 863 shares during the period. MARSHALL WACE ASIA Ltd purchased a new stake in Level 3 Communications in the first quarter worth $2,507,000. Finally, Marshall Wace North America L.P. purchased a new stake in Level 3 Communications in the first quarter worth $2,507,000. Institutional investors own 98.81% of the company’s stock.

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Several equities research analysts recently weighed in on LVLT shares. BidaskClub cut Level 3 Communications from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Zacks Investment Research cut Level 3 Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Barclays PLC reaffirmed an “equal weight” rating and issued a $59.00 price target (down from $61.00) on shares of Level 3 Communications in a research note on Friday, July 14th. Finally, UBS AG reaffirmed a “buy” rating and issued a $68.00 price target (down from $71.00) on shares of Level 3 Communications in a research note on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $61.73.

Level 3 Communications, Inc. (NYSE LVLT) traded up 0.25% during midday trading on Thursday, hitting $53.06. The stock had a trading volume of 225,933 shares. The stock has a market cap of $19.24 billion, a PE ratio of 30.18 and a beta of 1.21. Level 3 Communications, Inc. has a 52-week low of $45.88 and a 52-week high of $64.61. The company’s 50 day moving average price is $53.93 and its 200-day moving average price is $57.67.

Level 3 Communications (NYSE:LVLT) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.03. The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.06 billion. Level 3 Communications had a return on equity of 5.80% and a net margin of 7.85%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. Analysts forecast that Level 3 Communications, Inc. will post $1.45 EPS for the current fiscal year.

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

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