Bluefin Trading LLC Reduces Holdings in Level 3 Communications, Inc. (LVLT)

Bluefin Trading LLC decreased its position in Level 3 Communications, Inc. (NYSE:LVLT) by 59.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,976 shares of the technology company’s stock after selling 11,500 shares during the period. Bluefin Trading LLC’s holdings in Level 3 Communications were worth $473,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its stake in Level 3 Communications by 24.1% in the first quarter. Russell Investments Group Ltd. now owns 31,535 shares of the technology company’s stock valued at $1,805,000 after purchasing an additional 6,122 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Level 3 Communications by 13.0% in the first quarter. UBS Asset Management Americas Inc. now owns 757,440 shares of the technology company’s stock valued at $43,341,000 after purchasing an additional 87,123 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Level 3 Communications by 41.0% during the first quarter. Ameriprise Financial Inc. now owns 248,233 shares of the technology company’s stock worth $13,987,000 after acquiring an additional 72,161 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Level 3 Communications by 11.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,743 shares of the technology company’s stock worth $500,000 after acquiring an additional 907 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Level 3 Communications by 83.6% during the first quarter. Wellington Management Group LLP now owns 112,601 shares of the technology company’s stock worth $6,443,000 after acquiring an additional 51,267 shares in the last quarter. Institutional investors and hedge funds own 98.81% of the company’s stock.

Level 3 Communications, Inc. (NYSE:LVLT) traded down 0.71% on Wednesday, reaching $53.09. 3,934,128 shares of the company’s stock were exchanged. The company has a market cap of $19.26 billion, a PE ratio of 30.20 and a beta of 1.21. The firm’s 50 day moving average price is $54.01 and its 200 day moving average price is $57.75. Level 3 Communications, Inc. has a 52-week low of $45.88 and a 52-week high of $64.61.

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

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Several equities research analysts have recently commented on LVLT shares. Zacks Investment Research raised shares of Level 3 Communications from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. BidaskClub raised shares of Level 3 Communications from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 27th. Barclays PLC reduced their price objective on shares of Level 3 Communications from $59.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 4th. Finally, UBS AG reaffirmed a “buy” rating and issued a $68.00 price objective (down from $71.00) on shares of Level 3 Communications in a research report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. Level 3 Communications has an average rating of “Hold” and an average price target of $61.73.

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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