Level 3 Communications (LVLT) : Capwealth Advisors reduced its stake in Level 3 Communications by 0.44% during the most recent quarter end. The investment management company now holds a total of 461,469 shares of Level 3 Communications which is valued at $23.9 Million after selling 2,050 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 6.14% of Capwealth Advisors’s portfolio.
Other Hedge Funds, Including , Blackrock Group Ltd reduced its stake in LVLT by selling 45,993 shares or 1.9% in the most recent quarter. The Hedge Fund company now holds 2,377,019 shares of LVLT which is valued at $123.1 Million. Level 3 Communications makes up approx 0.07% of Blackrock Group Ltd’s portfolio.Johnson Financial Group boosted its stake in LVLT in the latest quarter, The investment management firm added 7 additional shares and now holds a total of 104 shares of Level 3 Communications which is valued at $5,384.Bronfman E.l. Rothschild boosted its stake in LVLT in the latest quarter, The investment management firm added 53 additional shares and now holds a total of 189 shares of Level 3 Communications which is valued at $9,786.
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 Companys 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.