Teachers Advisors LLC Sells 92,210 Shares of Level 3 Communications, Inc. (LVLT)

Teachers Advisors LLC lowered its position in shares of Level 3 Communications, Inc. (NYSE:LVLT) by 9.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 891,196 shares of the technology company’s stock after selling 92,210 shares during the quarter. Teachers Advisors LLC owned 0.25% of Level 3 Communications worth $52,848,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in LVLT. Russell Investments Group Ltd. raised its stake in shares of Level 3 Communications by 24.1% during the 1st quarter. Russell Investments Group Ltd. now owns 31,535 shares of the technology company’s stock worth $1,805,000 after purchasing an additional 6,122 shares in the last quarter. Suntrust Banks Inc. raised its stake in shares of Level 3 Communications by 11.3% during the 1st quarter. Suntrust Banks Inc. now owns 5,644 shares of the technology company’s stock worth $322,000 after purchasing an additional 574 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Level 3 Communications by 13.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 757,440 shares of the technology company’s stock worth $43,341,000 after purchasing an additional 87,123 shares in the last quarter. Karp Capital Management Corp bought a new stake in shares of Level 3 Communications during the 1st quarter worth approximately $5,089,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Level 3 Communications by 41.0% during the 1st quarter. Ameriprise Financial Inc. now owns 248,233 shares of the technology company’s stock worth $13,987,000 after purchasing an additional 72,161 shares in the last quarter. 98.74% of the stock is owned by hedge funds and other institutional investors.

Shares of Level 3 Communications, Inc. (NYSE:LVLT) opened at 53.37 on Friday. Level 3 Communications, Inc. has a 1-year low of $44.01 and a 1-year high of $64.61. The company has a 50-day moving average price of $55.06 and a 200-day moving average price of $58.07. The company has a market cap of $19.36 billion, a PE ratio of 30.36 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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.03. The company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Level 3 Communications had a return on equity of 5.80% and a net margin of 7.85%. Level 3 Communications’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Equities research analysts expect that Level 3 Communications, Inc. will post $1.43 earnings per share for the current fiscal year.

In other Level 3 Communications news, insider Hector Alonso sold 4,455 shares of the business’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $59.10, for a total value of $263,290.50. Following the transaction, the insider now owns 148,228 shares of the company’s stock, valued at $8,760,274.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Eric Mortensen sold 1,189 shares of the business’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $59.10, for a total value of $70,269.90. Following the completion of the transaction, the senior vice president now directly owns 77,944 shares in the company, valued at approximately $4,606,490.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,224 shares of company stock worth $1,668,038. 0.49% of the stock is owned by insiders.

A number of equities research analysts have recently issued reports on LVLT shares. Zacks Investment Research upgraded Level 3 Communications from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. BidaskClub cut Level 3 Communications from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 9th. Barclays PLC reiterated an “equal weight” rating and set a $59.00 price objective (down previously from $61.00) on shares of Level 3 Communications in a research note on Friday, July 14th. Finally, UBS AG reiterated a “buy” rating and set a $68.00 price objective (down previously 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 assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $61.67.

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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.

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

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