Level 3 Communications, Inc. (NYSE:LVLT) Holdings Reduced by State Treasurer State of Michigan

State Treasurer State of Michigan lowered its position in Level 3 Communications, Inc. (NYSE:LVLT) by 7.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,168 shares of the technology company’s stock after selling 7,000 shares during the quarter. State Treasurer State of Michigan’s holdings in Level 3 Communications were worth $4,752,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Tiverton Asset Management LLC acquired a new stake in shares of Level 3 Communications during the 2nd quarter worth about $126,000. Sun Life Financial INC lifted its stake in shares of Level 3 Communications by 23,733.3% during the 2nd quarter. Sun Life Financial INC now owns 2,145 shares of the technology company’s stock worth $127,000 after buying an additional 2,136 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Level 3 Communications by 155.3% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,226 shares of the technology company’s stock worth $132,000 after buying an additional 1,354 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Level 3 Communications by 449.0% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,306 shares of the technology company’s stock worth $137,000 after buying an additional 1,886 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Level 3 Communications during the 2nd quarter worth about $211,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

A number of research firms have recently issued reports on LVLT. BidaskClub upgraded shares of Level 3 Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. UBS AG restated a “buy” rating and set a $68.00 target price (down previously from $71.00) on shares of Level 3 Communications in a research note on Tuesday, July 18th. Zacks Investment Research raised shares of Level 3 Communications from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Finally, Barclays PLC lowered their price target on shares of Level 3 Communications from $59.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $61.55.

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Level 3 Communications, Inc. (NYSE LVLT) traded up $0.93 during trading hours on Friday, reaching $53.63. 3,119,100 shares of the company were exchanged, compared to its average volume of 2,423,731. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.79 and a current ratio of 1.79. Level 3 Communications, Inc. has a 1-year low of $50.82 and a 1-year high of $64.61.

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.

Institutional Ownership by Quarter for Level 3 Communications (NYSE:LVLT)

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