The stock of Level 3 Communications, Inc. (NYSE:LVLT) is a huge mover today! About 39.77 million shares traded hands or 980.71% up from the average. Level 3 Communications, Inc. (NYSE:LVLT) has risen 3.07% since March 29, 2016 and is uptrending. It has underperformed by 0.40% the S&P500.
The move comes after 7 months positive chart setup for the $21.16 billion company. It was reported on Oct, 31 by Barchart.com. We have $69.47 PT which if reached, will make NYSE:LVLT worth $4.87 billion more.
Level 3 Communications, Inc. (NYSE:LVLT) Ratings Coverage
Out of 11 analysts covering Level 3 (NYSE:LVLT), 10 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 91% are positive. Level 3 has been the topic of 15 analyst reports since July 30, 2015 according to StockzIntelligence Inc. Morgan Stanley upgraded the shares of LVLT in a report on Thursday, February 11 to “Overweight” rating. The stock of Level 3 Communications, Inc. (NYSE:LVLT) earned “Outperform” rating by RBC Capital Markets on Tuesday, September 22. The stock of Level 3 Communications, Inc. (NYSE:LVLT) has “Outperform” rating given on Tuesday, April 19 by William Blair. The firm earned “Buy” rating on Friday, October 14 by Goldman Sachs. The stock of Level 3 Communications, Inc. (NYSE:LVLT) has “Neutral” rating given on Friday, April 29 by Bank of America. Moffett Nathanson upgraded the shares of LVLT in a report on Wednesday, August 24 to “Buy” rating. The rating was maintained by Macquarie Research on Tuesday, August 4 with “Neutral”. The stock of Level 3 Communications, Inc. (NYSE:LVLT) has “Overweight” rating given on Tuesday, October 18 by Barclays Capital. The firm has “Buy” rating given on Thursday, July 30 by Canaccord Genuity. The stock of Level 3 Communications, Inc. (NYSE:LVLT) has “Outperform” rating given on Thursday, September 3 by Macquarie Research.
According to Zacks Investment Research, “Level 3 Communications is an international communications and information services company. The company operates one of the largest Internet backbones in the world, is one of the largest providers of wholesale dial-up service to ISPs in North America and is the primary provider of Internet connectivity for millions of broadband subscribers, through its cable and DSL partners. The company offers a wide range of communications services over its mile broadband fiber optic network including Internet Protocol services, broadband transport and infrastructure services, colocation services, and patented softswitch managed modem and voice services.”
Insitutional Activity: The institutional sentiment decreased to 1.14 in 2016 Q2. Its down 0.42, from 1.56 in 2016Q1. The ratio dived, as 41 funds sold all Level 3 Communications, Inc. shares owned while 141 reduced positions. 39 funds bought stakes while 168 increased positions. They now own 365.06 million shares or 1.16% less from 369.32 million shares in 2016Q1.
Paloma Partners accumulated 56,202 shares or 0.03% of the stock. Waddell And Reed Inc has invested 0.58% of its portfolio in Level 3 Communications, Inc. (NYSE:LVLT). Macquarie Gru Limited, a Australia-based fund reported 94,493 shares. National Bank Of Nova Scotia last reported 5,767 shares in the company. Moreover, Royal Commercial Bank Of Canada has 0.01% invested in Level 3 Communications, Inc. (NYSE:LVLT) for 175,812 shares. Beck Mack And Oliver has 2.29% invested in the company for 1.26 million shares. Park Presidio Cap Ltd Llc has 6.54% invested in the company for 812,740 shares. Atria Invs Ltd has invested 0.02% of its portfolio in Level 3 Communications, Inc. (NYSE:LVLT). Mizuho & Banking, a Japan-based fund reported 959,522 shares. Timessquare Ltd Liability Corp has 0.48% invested in the company for 1.42 million shares. Neuberger Berman Limited Liability Corp has 0.3% invested in the company for 4.30M shares. Hallmark accumulated 0.01% or 1,200 shares. Locust Wood Cap Advisers Lc holds 4.12% of its portfolio in Level 3 Communications, Inc. (NYSE:LVLT) for 714,930 shares. Ig Mgmt Limited owns 96,356 shares or 0.02% of their US portfolio. Platinum Investment holds 3.86M shares or 4.92% of its portfolio.
Insider Transactions: Since May 2, 2016, the stock had 0 insider purchases, and 23 insider sales for $13.38 million net activity. ALONSO HECTOR sold $74,427 worth of stock. The insider STOREY JEFFREY K sold $565,794. MORTENSEN ERIC had sold 595 shares worth $27,474 on Saturday, October 1. $1.24M worth of Level 3 Communications, Inc. (NYSE:LVLT) shares were sold by Crouch Andrew. Ryan John Michael had sold 6,000 shares worth $320,231 on Wednesday, June 1. PATEL SUNIT S had sold 31,135 shares worth $1.58M. The insider PANG Laurinda Y sold 11,570 shares worth $584,294.
More notable recent Level 3 Communications, Inc. (NYSE:LVLT) news were published by: Wsj.com which released: “CenturyLink to Buy Level 3 Communications for $25 Billion” on October 31, 2016, also Wsj.com with their article: “CenturyLink in Advanced Talks to Merge With Level 3 Communications” published on October 27, 2016, Moodys.com published: “Moody’s affirms Level 3’s ratings, changes outlook to stable” on October 31, 2016. More interesting news about Level 3 Communications, Inc. (NYSE:LVLT) were released by: Businesswire.com and their article: “Level 3 Communications Inc. Shareholder Alert: Former SEC Attorney Willie …” published on October 31, 2016 as well as Schaeffersresearch.com‘s news article titled: “Buzz Stocks: Level 3 Communications, Inc., Baker Hughes Incorporated, and …” with publication date: October 31, 2016.
LVLT Company Profile
Level 3 Communications, Inc., incorporated on December 10, 1985, is a well-known provider of a range of integrated communications services. The Company’s operating divisions include North America, EMEA and Latin America. The North America includes activities in Atlanta, Georgia; Littleton, Colorado; Miami, Florida; Montreal, Canada; New York, New York; Phoenix, Arizona; Pittsburgh, Pennsylvania; Southfield, Michigan, and Tulsa, Oklahoma. The Europe segment includes activities in Basingstoke, England; Crewe, England; Dublin, Ireland; London, England; Naarden, The Netherlands, and Paris, France. The Latin America includes activities in Bogota, Colombia; Buenos Aires, Argentina; Caracas, Venezuela; Lima, Peru; Quito, Ecuador; Santiago, Chile, and Sao Paulo, Brazil. The Firm offers optical, Internet Protocol, computing and storage technologies.
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