Chevy Chase Trust Holdings Inc. raised its position in shares of Level 3 Communications, Inc. (NYSE:LVLT) by 1.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 256,577 shares of the technology company’s stock after purchasing an additional 4,048 shares during the quarter. Chevy Chase Trust Holdings Inc. owned approximately 0.07% of Level 3 Communications worth $13,673,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Virtu KCG Holdings LLC increased its position in Level 3 Communications by 0.5% during the 2nd quarter. Virtu KCG Holdings LLC now owns 3,723 shares of the technology company’s stock valued at $221,000 after purchasing an additional 17 shares during the period. MAI Capital Management increased its position in Level 3 Communications by 1.7% during the 2nd quarter. MAI Capital Management now owns 5,314 shares of the technology company’s stock valued at $315,000 after purchasing an additional 90 shares during the period. Cadence Capital Management LLC increased its position in Level 3 Communications by 0.8% during the 2nd quarter. Cadence Capital Management LLC now owns 11,455 shares of the technology company’s stock valued at $679,000 after purchasing an additional 96 shares during the period. Wetherby Asset Management Inc. increased its position 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 purchasing an additional 145 shares during the period. Finally, Sentry Investment Management LLC boosted its holdings in shares of Level 3 Communications by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 22,339 shares of the technology company’s stock worth $1,325,000 after buying an additional 234 shares in the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

A number of research firms have issued reports on LVLT. BidaskClub upgraded Level 3 Communications from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 27th. Barclays cut their price target on Level 3 Communications from $59.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Level 3 Communications has an average rating of “Hold” and a consensus target price of $61.47.

Level 3 Communications, Inc. (NYSE LVLT) traded up $0.93 during trading on Wednesday, hitting $53.63. The company’s stock had a trading volume of 3,119,100 shares, compared to its average volume of 2,423,731. Level 3 Communications, Inc. has a 52-week low of $50.82 and a 52-week high of $64.61. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.94.

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

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