Systematic Financial Management Lp Lowers stake in Level 3 Communications (LVLT)

Level 3 Communications (LVLT) : Systematic Financial Management Lp reduced its stake in Level 3 Communications by 0.61% during the most recent quarter end. The investment management company now holds a total of 3,036,045 shares of Level 3 Communications which is valued at $157.2 Million after selling 18,591 shares in Level 3 Communications , the firm said in a disclosure report filed with the SEC on May 11, 2016.Level 3 Communications makes up approximately 2.00% of Systematic Financial Management Lp’s portfolio.

Other Hedge Funds, Including , Sentry Investment Management reduced its stake in LVLT by selling 1,321 shares or 6.1% in the most recent quarter. The Hedge Fund company now holds 20,336 shares of LVLT which is valued at $1.1 Million. Level 3 Communications makes up approx 0.05% of Sentry Investment Management’s portfolio. Ausdal Financial Partners sold out all of its stake in LVLT during the most recent quarter. The investment firm sold 44 shares of LVLT which is valued $2,278.American Century Companies Inc reduced its stake in LVLT by selling 869,507 shares or 99.19% in the most recent quarter. The Hedge Fund company now holds 7,107 shares of LVLT which is valued at $368,000. Raveneur Investment Group Lp added LVLT to its portfolio by purchasing 280,144 company shares during the most recent quarter which is valued at $14.5 Million. Level 3 Communications makes up approx 7.21% of Raveneur Investment Group Lp’s portfolio.

Level 3 Communications opened for trading at $51.77 and hit $52.52 on the upside on Monday, eventually ending the session at $52.41, with a gain of 1.24% or 0.64 points. The heightened volatility saw the trading volume jump to 22,42,195 shares. Company has a market cap of $18,759 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 Inc. is a provider of a range of integrated communications services. The Company’s 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.

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