What’s Level 3 Communications, Inc. Upside After Today’s Bearish Options Activity?

 What's Level 3 Communications, Inc. Upside After Today's Bearish Options Activity?

In today’s session Level 3 Communications, Inc. (LVLT) recorded an unusually high (350) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the March, 2017 put, expecting serious LVLT decrease. With 350 contracts traded and 16694 open interest for the Mar, 17 contract, it seems this is a quite bearish bet. The option with symbol: LVLT170317P00050000 closed last at: $1.75 or 27.1% down. About 569,498 shares traded hands. Level 3 Communications, Inc. (NYSE:LVLT) has risen 5.33% since April 8, 2016 and is uptrending. It has underperformed by 0.32% the S&P500.

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. $66.50 is the highest target while $50 is the lowest. The $59.56 average target is 9.30% above today’s ($54.49) stock price. Level 3 has been the topic of 21 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Canaccord Genuity given on Thursday, July 30. Macquarie Research upgraded the shares of LVLT in a report on Thursday, September 3 to “Outperform” rating. The company was downgraded on Tuesday, November 1 by Goldman Sachs. The rating was downgraded by RBC Capital Markets on Tuesday, November 1 to “Sector Perform”. The company was upgraded on Friday, October 14 by JP Morgan. The stock of Level 3 Communications, Inc. (NYSE:LVLT) has “Hold” rating given on Tuesday, November 1 by Jefferies. The firm earned “Outperform” rating on Tuesday, April 19 by William Blair. The firm has “Overweight” rating given on Thursday, February 11 by Morgan Stanley. The company was downgraded on Friday, April 29 by Bank of America. FBR Capital maintained it with “Mkt Perform” rating and $66.50 target price in Tuesday, November 1 report.

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 Q2 2016. Its down 0.42, from 1.56 in 2016Q1. The ratio is 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.
First Allied Advisory Services Inc has 0.07% invested in the company for 25,700 shares. Thompson Rubinstein Investment Mngmt Or last reported 0.12% of its portfolio in the stock. Davenport And Limited Com has 0% invested in the company for 50,788 shares. Td Asset Mngmt has invested 0.01% of its portfolio in Level 3 Communications, Inc. (NYSE:LVLT). Finemark Bank & Trust Trust owns 50 shares or 0% of their US portfolio. Steelhead Prns Ltd Limited Liability Company accumulated 1.43% or 269,502 shares. Pnc Fincl Service Gp reported 49,022 shares or 0% of all its holdings. Mizuho Tru And Banking Limited last reported 959,522 shares in the company. National Bank & Trust Of New York Mellon Corp, a New York-based fund reported 2.17M shares. Canada Pension Plan Inv Board last reported 71,599 shares in the company. Moreover, Ameritas Invest Prtnrs has 0.02% invested in Level 3 Communications, Inc. (NYSE:LVLT) for 5,508 shares. Jaffetilchin Prns Lc holds 0.24% or 15,104 shares in its portfolio. Public Sector Pension Board accumulated 54,896 shares or 0.03% of the stock. The New Jersey-based Reaves W H Comm has invested 1.23% in Level 3 Communications, Inc. (NYSE:LVLT). Moreover, Louisiana State Employees Retirement has 0.05% invested in Level 3 Communications, Inc. (NYSE:LVLT) for 19,000 shares.

Insider Transactions: Since June 1, 2016, the stock had 0 buys, and 24 sales for $13.94 million net activity. Shares for $560,057 were sold by Ryan John Michael on Friday, July 1. Another trade for 8,500 shares valued at $425,000 was sold by Crouch Andrew. Shares for $3.05 million were sold by STOREY JEFFREY K. The insider ALONSO HECTOR sold $567,800. 2,145 shares were sold by PANG Laurinda Y, worth $98,997 on Saturday, October 1. PATEL SUNIT S sold $1.58 million worth of Level 3 Communications, Inc. (NYSE:LVLT) on Friday, July 1. MORTENSEN ERIC sold $27,474 worth of stock or 595 shares.

Level 3 Communications, Inc. is a provider of a range of integrated communications services. The company has a market cap of $19.96 billion. The Company’s operating divisions include North America, EMEA and Latin America. It has a 5.34 P/E ratio. 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.

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.

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: 9News.com and their article: “CenturyLink selling data centers to help pay for Level 3 buy” published on November 04, 2016 as well as Prnewswire.com‘s news article titled: “LEVEL 3 (LVLT) Alert: Johnson & Weaver, LLP Launches an Investigation into the …” with publication date: October 31, 2016.

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