Bruni J V Co Co buys $34,714,322 stake in Level 3 Communications (LVLT)

Level 3 Communications (LVLT) : Bruni J V Co Co scooped up 3,249 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 9, 2016. The investment management firm now holds a total of 670,549 shares of Level 3 Communications which is valued at $34,714,322.Level 3 Communications makes up approximately 6.64% of Bruni J V Co Co’s portfolio.

Other Hedge Funds, Including , Willingdon Wealth Management added LVLT to its portfolio by purchasing 5,227 company shares during the most recent quarter which is valued at $270,602. Level 3 Communications makes up approx 0.17% of Willingdon Wealth Management’s portfolio.Td Asset Management Inc reduced its stake in LVLT by selling 5,715 shares or 4.21% in the most recent quarter. The Hedge Fund company now holds 130,039 shares of LVLT which is valued at $6,733,419. Level 3 Communications makes up approx 0.01% of Td Asset Management Inc’s portfolio.Gabelli Funds reduced its stake in LVLT by selling 6,600 shares or 0.94% in the most recent quarter. The Hedge Fund company now holds 698,700 shares of LVLT which is valued at $36,178,686. Level 3 Communications makes up approx 0.22% of Gabelli Funds’s portfolio.Sandy Spring Bank reduced its stake in LVLT by selling 47 shares or 13.43% in the most recent quarter. The Hedge Fund company now holds 303 shares of LVLT which is valued at $15,689.Great West Life Assurance Co Can boosted its stake in LVLT in the latest quarter, The investment management firm added 23,885 additional shares and now holds a total of 157,179 shares of Level 3 Communications which is valued at $8,214,175. Level 3 Communications makes up approx 0.03% of Great West Life Assurance Co Can’s portfolio.

Level 3 Communications closed down -0.71 points or -1.35% at $51.77 with 22,56,372 shares getting traded on Friday. Post opening the session at $52.32, the shares hit an intraday low of $51.71 and an intraday high of $53.11 and the price fluctuated in this range throughout the day.Shares ended Friday 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 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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