NGAM Advisors L.P. boosted its position in shares of Level 3 Communications, Inc. (NYSE:LVLT) by 63.0% during the second quarter, Holdings Channel reports. The institutional investor owned 34,555 shares of the technology company’s stock after buying an additional 13,351 shares during the period. NGAM Advisors L.P.’s holdings in Level 3 Communications were worth $2,049,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of LVLT. Cheyne Capital Management UK LLP purchased a new position in Level 3 Communications during the second quarter worth $26,853,000. Personal Capital Advisors Corp raised its position in Level 3 Communications by 13.7% in the second quarter. Personal Capital Advisors Corp now owns 314,002 shares of the technology company’s stock worth $18,620,000 after buying an additional 37,902 shares in the last quarter. ING Groep NV raised its position in Level 3 Communications by 0.4% in the second quarter. ING Groep NV now owns 22,545 shares of the technology company’s stock worth $1,337,000 after buying an additional 93 shares in the last quarter. Longfellow Investment Management Co. LLC raised its position in Level 3 Communications by 13.3% in the second quarter. Longfellow Investment Management Co. LLC now owns 213,000 shares of the technology company’s stock worth $12,631,000 after buying an additional 25,000 shares in the last quarter. Finally, Bridges Investment Counsel Inc. raised its position in Level 3 Communications by 89.9% in the second quarter. Bridges Investment Counsel Inc. now owns 22,583 shares of the technology company’s stock worth $1,339,000 after buying an additional 10,691 shares in the last quarter.

Shares of Level 3 Communications, Inc. (NYSE:LVLT) opened at 56.19 on Friday. Level 3 Communications, Inc. has a 1-year low of $44.01 and a 1-year high of $64.61. The firm’s 50-day moving average is $58.39 and its 200 day moving average is $58.82. The stock has a market capitalization of $20.38 billion, a P/E ratio of 31.96 and a beta of 1.23.

Level 3 Communications (NYSE:LVLT) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.06 billion. Level 3 Communications had a net margin of 7.85% and a return on equity of 5.80%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 earnings per share. On average, analysts expect that Level 3 Communications, Inc. will post $1.42 EPS for the current fiscal year.

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A number of equities analysts have recently weighed in on the stock. BidaskClub lowered shares of Level 3 Communications from a “hold” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Level 3 Communications from a “sell” rating to a “hold” rating in a report on Monday, August 7th. UBS AG restated a “buy” rating and issued a $68.00 target price (down from $71.00) on shares of Level 3 Communications in a report on Tuesday, July 18th. Barclays PLC restated an “equal weight” rating and issued a $59.00 target price (down from $61.00) on shares of Level 3 Communications in a report on Friday, July 14th. Finally, Raymond James Financial, Inc. restated an “underperform” rating and issued a $62.82 target price on shares of Level 3 Communications in a report on Monday, May 15th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $61.36.

In related news, EVP John Michael Ryan sold 5,927 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $59.10, for a total transaction of $350,285.70. Following the transaction, the executive vice president now owns 144,994 shares of the company’s stock, valued at $8,569,145.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Hector Alonso sold 4,455 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $59.10, for a total transaction of $263,290.50. Following the transaction, the insider now directly owns 148,228 shares in the company, valued at approximately $8,760,274.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,224 shares of company stock worth $1,668,038. Insiders own 0.49% of the company’s stock.

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.

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

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