Alyeska Investment Group L.P. acquired a new position in Level 3 Communications, Inc. (NYSE:LVLT) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 210,000 shares of the technology company’s stock, valued at approximately $11,191,000. Alyeska Investment Group L.P. owned approximately 0.06% of Level 3 Communications as of its most recent SEC filing.

Several other large investors have also modified their holdings of LVLT. Daiwa Securities Group Inc. boosted its stake in shares of Level 3 Communications by 4.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,750 shares of the technology company’s stock worth $519,000 after purchasing an additional 400 shares during the period. Retirement Systems of Alabama lifted its holdings in Level 3 Communications by 0.5% during the 2nd quarter. Retirement Systems of Alabama now owns 141,929 shares of the technology company’s stock valued at $8,416,000 after buying an additional 709 shares in the last quarter. Global X Management Co. LLC lifted its holdings in Level 3 Communications by 12.7% during the 2nd quarter. Global X Management Co. LLC now owns 4,710 shares of the technology company’s stock valued at $279,000 after buying an additional 532 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in Level 3 Communications by 48.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 435,389 shares of the technology company’s stock valued at $25,819,000 after buying an additional 141,500 shares in the last quarter. Finally, Wetherby Asset Management Inc. lifted its holdings in Level 3 Communications by 3.5% during the 2nd quarter. Wetherby Asset Management Inc. now owns 4,271 shares of the technology company’s stock valued at $253,000 after buying an additional 145 shares in the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

Level 3 Communications, Inc. (LVLT) traded up $0.93 during trading hours on Tuesday, hitting $53.63. 3,119,100 shares of the stock traded hands, compared to its average volume of 2,423,731. Level 3 Communications, Inc. has a twelve month low of $50.82 and a twelve month high of $64.61. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.79 and a quick ratio of 1.79.

LVLT has been the subject of a number of research analyst reports. Barclays decreased their price objective on shares of Level 3 Communications from $59.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, October 4th. BidaskClub lowered shares of Level 3 Communications from a “sell” rating to a “strong sell” rating in a report on Saturday, September 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Level 3 Communications currently has a consensus rating of “Hold” and a consensus target price of $61.55.

COPYRIGHT VIOLATION WARNING: “210,000 Shares in Level 3 Communications, Inc. (LVLT) Purchased by Alyeska Investment Group L.P.” was originally reported by Watch List News and is owned by of Watch List News. If you are reading this report on another domain, it was stolen and republished in violation of U.S. and international copyright & trademark law. The original version of this report can be accessed at https://www.watchlistnews.com/210000-shares-in-level-3-communications-inc-lvlt-purchased-by-alyeska-investment-group-l-p/1759668.html.

Level 3 Communications 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)

Receive News & Ratings for Level 3 Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Level 3 Communications and related companies with Analyst Ratings Network's FREE daily email newsletter.