Level 3 Communications, Inc. (NYSE:LVLT) VP Sunit S. Patel sold 26,488 shares of the stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $57.49, for a total value of $1,522,795.12. Following the transaction, the vice president now directly owns 561,983 shares of the company’s stock, valued at approximately $32,308,402.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Level 3 Communications, Inc. (NYSE:LVLT) opened at 60.24 on Friday. The company has a 50-day moving average price of $57.46 and a 200 day moving average price of $55.62. The stock has a market capitalization of $21.73 billion, a price-to-earnings ratio of 32.21 and a beta of 1.48. Level 3 Communications, Inc. has a 12 month low of $44.01 and a 12 month high of $60.40.
Level 3 Communications (NYSE:LVLT) last issued its quarterly earnings data on Wednesday, February 8th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.16. The firm earned $2.03 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Level 3 Communications had a net margin of 8.15% and a return on equity of 6.34%. Equities analysts predict that Level 3 Communications, Inc. will post $1.51 earnings per share for the current year.
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A number of brokerages have commented on LVLT. Jefferies Group LLC increased their target price on Level 3 Communications from $50.00 to $64.00 and gave the company a “hold” rating in a report on Wednesday, January 25th. Royal Bank of Canada restated a “hold” rating and issued a $61.00 price target on shares of Level 3 Communications in a research report on Friday, February 10th. Morgan Stanley restated a “weight” rating and issued a $65.00 price target on shares of Level 3 Communications in a research report on Wednesday, March 29th. Finally, Zacks Investment Research upgraded Level 3 Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $61.92.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LVLT. Hall Laurie J Trustee bought a new position in Level 3 Communications during the fourth quarter valued at $115,000. NN Investment Partners Holdings N.V. boosted its position in Level 3 Communications by 22.7% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 2,165 shares of the technology company’s stock valued at $122,000 after buying an additional 400 shares during the period. Global X Management Co. LLC boosted its position in Level 3 Communications by 70.8% in the third quarter. Global X Management Co. LLC now owns 3,349 shares of the technology company’s stock valued at $155,000 after buying an additional 1,388 shares during the period. Mercer Capital Advisers Inc. boosted its position in Level 3 Communications by 251.2% in the third quarter. Mercer Capital Advisers Inc. now owns 3,775 shares of the technology company’s stock valued at $175,000 after buying an additional 2,700 shares during the period. Finally, CWM LLC boosted its position in Level 3 Communications by 5.5% in the first quarter. CWM LLC now owns 3,183 shares of the technology company’s stock valued at $182,000 after buying an additional 166 shares during the period.
Level 3 Communications Company Profile
Level 3 Communications, Inc is a provider of a range of integrated communications services. The Company’s operating segments include North America, EMEA and Latin America. The North America includes operations in Atlanta, Georgia; Littleton, Colorado; Miami, Florida; Montreal, Canada; New York, New York; Phoenix, Arizona; Pittsburgh, Pennsylvania; Southfield, Michigan, and Tulsa, Oklahoma.
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