Amerigo Asset Management buys $286,808,579 stake in Level 3 Communications (LVLT)

Level 3 Communications (LVLT) : Amerigo Asset Management scooped up 608,919 additional shares in Level 3 Communications during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 14, 2016. The investment management firm now holds a total of 5,334,981 shares of Level 3 Communications which is valued at $286,808,579.Level 3 Communications makes up approximately 24.13% of Amerigo Asset Management’s portfolio.

Level 3 Communications closed down -0.08 points or -0.15% at $53.68 with 13,03,400 shares getting traded on Monday. Post opening the session at $53.45, the shares hit an intraday low of $53.31 and an intraday high of $53.87 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Other Hedge Funds, Including , Simplex Trading added LVLT to its portfolio by purchasing 8,301 company shares during the most recent quarter which is valued at $446,262. Level 3 Communications makes up approx 0.07% of Simplex Trading’s portfolio.Santa Fe Partners boosted its stake in LVLT in the latest quarter, The investment management firm added 18,756 additional shares and now holds a total of 51,109 shares of Level 3 Communications which is valued at $2,747,620. Level 3 Communications makes up approx 0.45% of Santa Fe Partners’s portfolio.Kanaly Trust Co boosted its stake in LVLT in the latest quarter, The investment management firm added 3,147 additional shares and now holds a total of 17,199 shares of Level 3 Communications which is valued at $924,618. Level 3 Communications makes up approx 0.18% of Kanaly Trust Co’s portfolio.Addison Capital Co boosted its stake in LVLT in the latest quarter, The investment management firm added 14,086 additional shares and now holds a total of 28,552 shares of Level 3 Communications which is valued at $1,534,956. Level 3 Communications makes up approx 1.16% of Addison Capital Co’s portfolio.

On the company’s financial health, Level 3 Communications reported $0.53 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Feb 4, 2016. Analyst had a consensus of $0.55. The company had revenue of $2053.00 million for the quarter, compared to analysts expectations of $2064.59 million. 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 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 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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