Milestone Group Inc. raised its position in Level 3 Communications, Inc. (NYSE:LVLT) by 32.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 5,714 shares of the technology company’s stock after purchasing an additional 1,393 shares during the period. Milestone Group Inc.’s holdings in Level 3 Communications were worth $304,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sei Investments Co. lifted its position in shares of Level 3 Communications by 9.7% in the 3rd quarter. Sei Investments Co. now owns 679,477 shares of the technology company’s stock worth $36,209,000 after purchasing an additional 60,140 shares during the period. BNP Paribas Arbitrage SA lifted its position in shares of Level 3 Communications by 55.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 180,072 shares of the technology company’s stock worth $9,596,000 after purchasing an additional 64,538 shares during the period. Bessemer Group Inc. lifted its position in shares of Level 3 Communications by 472.3% in the 3rd quarter. Bessemer Group Inc. now owns 1,877 shares of the technology company’s stock worth $100,000 after purchasing an additional 1,549 shares during the period. Swiss National Bank lifted its position in shares of Level 3 Communications by 3.5% during the 3rd quarter. Swiss National Bank now owns 1,217,901 shares of the technology company’s stock valued at $64,902,000 after acquiring an additional 41,300 shares during the period. Finally, Harvest Management LLC lifted its position in shares of Level 3 Communications by 131.6% during the 3rd quarter. Harvest Management LLC now owns 140,800 shares of the technology company’s stock valued at $7,503,000 after acquiring an additional 80,000 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

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Shares of Level 3 Communications, Inc. (NYSE:LVLT) traded up $0.93 during mid-day trading on Monday, reaching $53.63. 3,119,100 shares of the company’s stock were exchanged, compared to its average volume of 2,423,731. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.79 and a quick ratio of 1.79. Level 3 Communications, Inc. has a fifty-two week low of $50.82 and a fifty-two week high of $64.61.

A number of research firms recently issued reports on LVLT. BidaskClub downgraded shares of Level 3 Communications from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Zacks Investment Research upgraded shares of Level 3 Communications from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. UBS AG reiterated a “buy” rating and set a $68.00 target price (down previously from $71.00) on shares of Level 3 Communications in a research report on Tuesday, July 18th. Finally, Barclays PLC dropped their target price 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 research 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. The company has a consensus rating of “Hold” and a consensus target price of $61.55.

About Level 3 Communications

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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