Bridges Investment Management Inc Lowers stake in Level 3 Communications (LVLT)

Level 3 Communications (LVLT) : Bridges Investment Management Inc reduced its stake in Level 3 Communications by 17.33% during the most recent quarter end. The investment management company now holds a total of 19,582 shares of Level 3 Communications which is valued at $1,052,141 after selling 4,105 shares in Level 3 Communications , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Level 3 Communications makes up approximately 0.18% of Bridges Investment Management Inc’s portfolio.

Level 3 Communications closed down -0.12 points or -0.22% at $54.09 with 37,34,695 shares getting traded on Wednesday. Post opening the session at $54.19, the shares hit an intraday low of $53.41 and an intraday high of $54.31 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Gateway Investment Advisers reduced its stake in LVLT by selling 9,505 shares or 30.18% in the most recent quarter. The Hedge Fund company now holds 21,986 shares of LVLT which is valued at $1,181,308. Level 3 Communications makes up approx 0.01% of Gateway Investment Advisers’s portfolio.Chevy Chase Trust Holdings boosted its stake in LVLT in the latest quarter, The investment management firm added 5,587 additional shares and now holds a total of 244,356 shares of Level 3 Communications which is valued at $12,645,423. Level 3 Communications makes up approx 0.07% of Chevy Chase Trust Holdings’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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