The stock of Level 3 Communications, Inc. (NYSE:LVLT) is a huge mover today! About 1.71M shares traded hands. Level 3 Communications, Inc. (NYSE:LVLT) has risen 0.19% since April 5, 2016 and is uptrending. It has underperformed by 1.76% the S&P500.
The move comes after 6 months positive chart setup for the $19.38B company. It was reported on Nov, 8 by Barchart.com. We have $90.36 PT which if reached, will make NYSE:LVLT worth $13.37B more.
Level 3 Communications, Inc. (NYSE:LVLT) Ratings Coverage
Out of 15 analysts covering Level 3 (NYSE:LVLT), 8 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 53% are positive. Level 3 has been the topic of 21 analyst reports since July 30, 2015 according to StockzIntelligence Inc. Canaccord Genuity maintained the stock with “Buy” rating in Thursday, July 30 report. The rating was upgraded by Oppenheimer to “Outperform” on Friday, October 28. The firm has “Buy” rating by Goldman Sachs given on Friday, October 14. The company was maintained on Tuesday, August 4 by Macquarie Research. As per Tuesday, November 1, the company rating was downgraded by Goldman Sachs. The rating was upgraded by JP Morgan on Friday, October 14 to “Overweight”. The rating was initiated by RBC Capital Markets with “Outperform” on Tuesday, September 22. The stock has “Overweight” rating given by Morgan Stanley on Thursday, February 11. The firm has “Overweight” rating given on Tuesday, October 18 by Barclays Capital. The firm has “Neutral” rating by BTIG Research given on Tuesday, November 1.
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 turned negative, 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.
Gabelli Funds Limited last reported 0.21% of its portfolio in the stock. Sequoia Advisors Limited Liability Corp has 2.89% invested in the company for 200,000 shares. Hartford holds 0.08% or 69,795 shares in its portfolio. The United Kingdom-based Aviva Public Ltd Liability Co has invested 0.06% in Level 3 Communications, Inc. (NYSE:LVLT). Whittier Tru Comm Of Nevada reported 872 shares or 0.01% of all its holdings. Blackrock Limited Co holds 263,383 shares or 0.01% of its portfolio. Moreover, Cipher Cap L P has 0.1% invested in Level 3 Communications, Inc. (NYSE:LVLT) for 27,444 shares. Da Davidson & holds 65,173 shares or 0.1% of its portfolio. Intrust State Bank Na has 8,058 shares for 0.17% of their US portfolio. Jp Marvel Investment Advsr Ltd Co has 0.51% invested in the company for 28,120 shares. Panagora Asset has 111,591 shares for 0.03% of their US portfolio. Sumitomo Mitsui Asset has 0.04% invested in the company for 23,059 shares. D E Shaw And Inc reported 3.10 million shares or 0.29% of all its holdings. Us Bank De, a Minnesota-based fund reported 635,962 shares. Royal Bancorp Of Canada has 0.01% invested in the company for 175,812 shares.
Insider Transactions: Since June 1, 2016, the stock had 0 buys, and 24 selling transactions for $13.94 million net activity. PANG Laurinda Y sold $98,997 worth of stock or 2,145 shares. $560,057 worth of Level 3 Communications, Inc. (NYSE:LVLT) was sold by Ryan John Michael. Shares for $425,000 were sold by Crouch Andrew. $565,794 worth of Level 3 Communications, Inc. (NYSE:LVLT) was sold by STOREY JEFFREY K. $282,623 worth of Level 3 Communications, Inc. (NYSE:LVLT) shares were sold by PATEL SUNIT S. ALONSO HECTOR had sold 1,625 shares worth $74,427 on Saturday, October 1. MORTENSEN ERIC also sold $27,474 worth of Level 3 Communications, Inc. (NYSE:LVLT) shares.
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, Fool.com published: “Why Level 3 Communications, Inc. Gained 21% in October” on November 03, 2016. More interesting news about Level 3 Communications, Inc. (NYSE:LVLT) were released by: Bizjournals.com and their article: “CenturyLink buying Level 3 Communications” published on October 31, 2016 as well as 9News.com‘s news article titled: “CenturyLink selling data centers to help pay for Level 3 buy” with publication date: November 04, 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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