Msf Capital Lowers stake in Level 3 Communications (LVLT)

Level 3 Communications (LVLT) : Msf Capital reduced its stake in Level 3 Communications by 85.37% during the most recent quarter end. The investment management company now holds a total of 29,979 shares of Level 3 Communications which is valued at $1.6 Million after selling 174,932 shares in Level 3 Communications , the firm said in a disclosure report filed with the SEC on May 13, 2016.Level 3 Communications makes up approximately 5.30% of Msf Capital’s portfolio.

Other Hedge Funds, Including , Caisse De Depot Et Placement Du Quebec reduced its stake in LVLT by selling 38,119 shares or 31.07% in the most recent quarter. The Hedge Fund company now holds 84,581 shares of LVLT which is valued at $4.4 Million. Level 3 Communications makes up approx 0.01% of Caisse De Depot Et Placement Du Quebec’s portfolio. Timessquare Capital Management added LVLT to its portfolio by purchasing 1,055,100 company shares during the most recent quarter which is valued at $54.6 Million. Level 3 Communications makes up approx 0.36% of Timessquare Capital Management’s portfolio. First Trust Advisors Lp added LVLT to its portfolio by purchasing 1,382,021 company shares during the most recent quarter which is valued at $71.5 Million. Level 3 Communications makes up approx 0.23% of First Trust Advisors Lp’s portfolio.Municipal Employees’ Retirement System Of Michigan boosted its stake in LVLT in the latest quarter, The investment management firm added 230 additional shares and now holds a total of 12,970 shares of Level 3 Communications which is valued at $671,587. Level 3 Communications makes up approx 0.04% of Municipal Employees’ Retirement System Of Michigan’s portfolio.

Level 3 Communications closed down -0.34 points or -0.64% at $52.71 with 9,64,425 shares getting traded on Wednesday. Post opening the session at $53.17, the shares hit an intraday low of $52.7 and an intraday high of $53.42 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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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