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Level 3 Communications : Meridian Management Co buys $2,538,219 stake in Level 3 Communications (LVLT)

by August 27, 2016 General

Level 3 Communications (LVLT) : Meridian Management Co scooped up 160 additional shares in Level 3 Communications during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 51,040 shares of Level 3 Communications which is valued at $2,538,219.Level 3 Communications makes up approximately 1.48% of Meridian Management Cos portfolio.Other Hedge Funds, Including , Canada Pension Plan Investment Board boosted its stake in LVLT in the latest quarter, The investment management firm added 48,926 additional shares and now holds a total of 71,599 shares of Level 3 Communications which is valued at $3,560,618. Level 3 Communications makes up approx 0.01% of Canada Pension Plan Investment Boards portfolio.Cornerstone Financial Partners reduced its stake in LVLT by selling 3,805 shares or 13.96% in the most recent quarter. The Hedge Fund company now holds 23,458 shares of LVLT which is valued at $1,155,776. Level 3 Communications makes up approx 0.40% of Cornerstone Financial Partnerss portfolio. Capital Fund Management S.a. sold out all of its stake in LVLT during the most recent quarter. The investment firm sold 15,965 shares of LVLT which is valued $840,557.Level 3 Communications opened for trading at $49.07 and hit $49.59 on the upside on Tuesday, eventually ending the session at $49.26, with a gain of 1.00% or 0.49 points. The heightened volatility saw the trading volume jump to 21,64,196 shares. Company has a market cap of $17,710 M.On the companys financial health, Level 3 Communications reported $0.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.45. The company had revenue of $2056.00 million for the quarter, compared to analysts expectations of $2078.64 million. The companys revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS.Many Wall Street Analysts have commented on Level 3 Communications. Level 3 Communications was Upgraded by MoffettNathanson to Buy on Aug 24, 2016. Level 3 Communications was Downgraded by JP Morgan to Neutral on Jul 28, 2016. Level 3 Communications was Initiated by Pacific Crest to Sector Weight on Jul 25, 2016.Level 3 Communications Inc. is a provider of a range of integrated communications services. The Companys operating segments include North America includes operations in Georgia Colorado Florida Canada New York Arizona Pennsylvania Michigan and Oklahoma; Europe includes operations in England Ireland The Netherlands and France; The Latin America includes operations in Colombia Argentina Venezuela Peru Ecuador Chile and Brazil. The Asia or Pacific includes operations in ChinaSingapore and Japan. The tw telecom inc. (tw telecom) is an indirect wholly owned subsidiary of the Company. The Company offers services which includes core network services and wholesale voice services. It offers products which include core network services including transport and fiber services colocation and data center services IP and data services managed services cloud and IT services voice services and wholesale voice services including voice termination and toll free.(c) 2016 Emirates News Agency (WAM) Provided by SyndiGate Media Inc. (, source Middle East & North African Newspapers