Level 3 Communications (LVLT) : Three Peaks Capital Management scooped up 39,896 additional shares in Level 3 Communications during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 315,740 shares of Level 3 Communications which is valued at $16,349,017.Level 3 Communications makes up approximately 2.97% of Three Peaks Capital Management’s portfolio.
Other Hedge Funds, Including , Columbus Circle Investors boosted its stake in LVLT in the latest quarter, The investment management firm added 49,351 additional shares and now holds a total of 470,657 shares of Level 3 Communications which is valued at $24,370,619. Level 3 Communications makes up approx 0.22% of Columbus Circle Investors’s portfolio.Farmers Merchants Investments Inc reduced its stake in LVLT by selling 25 shares or 0.29% in the most recent quarter. The Hedge Fund company now holds 8,462 shares of LVLT which is valued at $438,162. Level 3 Communications makes up approx 0.05% of Farmers Merchants Investments Inc’s portfolio.Nisa Investment Advisors L.l.c. boosted its stake in LVLT in the latest quarter, The investment management firm added 3,560 additional shares and now holds a total of 116,021 shares of Level 3 Communications which is valued at $6,063,257. Level 3 Communications makes up approx 0.09% of Nisa Investment Advisors L.l.c.’s portfolio. Quantitative Systematic Strategies sold out all of its stake in LVLT during the most recent quarter. The investment firm sold 13,247 shares of LVLT which is valued $711,761.Advisory Services Network reduced its stake in LVLT by selling 132 shares or 40.24% in the most recent quarter. The Hedge Fund company now holds 196 shares of LVLT which is valued at $10,531.
Level 3 Communications opened for trading at $51.47 and hit $52.94 on the upside on Tuesday, eventually ending the session at $52.9, with a gain of 3.00% or 1.54 points. The heightened volatility saw the trading volume jump to 16,30,963 shares. Company has a market cap of $18,935 M.
On the company’s financial health, Level 3 Communications reported $0.35 EPS for the quarter, missing the analyst consensus estimate by $ -0.09 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $0.44. The company had revenue of $2051.00 million for the quarter, compared to analysts expectations of $2075.97 million. The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS.
Many Wall Street Analysts have commented on Level 3 Communications. Level 3 Communications was Downgraded by BofA/Merrill to ” Neutral” on Apr 29, 2016. Level 3 Communications was Upgraded by Morgan Stanley to ” Overweight” on Feb 11, 2016.
Level 3 Communications Inc. is a provider of a range of integrated communications services. The Companys operating segments include North America includes operations in Georgia Colorado Florida Canada New York Arizona Pennsylvania Michigan and Oklahoma; Europe includes operations in England Ireland The Netherlands and France; The Latin America includes operations in Colombia Argentina Venezuela Peru Ecuador Chile and Brazil. The Asia or Pacific includes operations in China Singapore and Japan. The tw telecom inc. (tw telecom) is an indirect wholly owned subsidiary of the Company. The Company offers services which includes core network services and wholesale voice services. It offers products which include core network services including transport and fiber services colocation and data center services IP and data services managed services cloud and IT services voice services and wholesale voice services including voice termination and toll free.