Level 3 Communications, Inc. (LVLT) is Pentwater Capital Management LP’s 2nd Largest Position

Pentwater Capital Management LP boosted its holdings in Level 3 Communications, Inc. (NYSE:LVLT) by 10.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,285,000 shares of the technology company’s stock after purchasing an additional 965,000 shares during the quarter. Level 3 Communications makes up about 4.7% of Pentwater Capital Management LP’s investment portfolio, making the stock its 2nd largest holding. Pentwater Capital Management LP owned about 2.84% of Level 3 Communications worth $548,088,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its holdings in shares of Level 3 Communications by 154.8% during the third quarter. Janus Henderson Group PLC now owns 149,638 shares of the technology company’s stock valued at $7,973,000 after acquiring an additional 90,917 shares during the period. Caxton Associates LP acquired a new position in shares of Level 3 Communications during the third quarter valued at $512,000. Vident Investment Advisory LLC acquired a new position in shares of Level 3 Communications during the third quarter valued at $384,000. Chevy Chase Trust Holdings Inc. boosted its holdings in shares of Level 3 Communications by 1.6% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 256,577 shares of the technology company’s stock valued at $13,673,000 after acquiring an additional 4,048 shares during the period. Finally, First Allied Advisory Services Inc. boosted its holdings in shares of Level 3 Communications by 37.1% during the third quarter. First Allied Advisory Services Inc. now owns 23,097 shares of the technology company’s stock valued at $1,228,000 after acquiring an additional 6,246 shares during the period. 98.84% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on LVLT shares. BidaskClub raised shares of Level 3 Communications from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 27th. Barclays reduced their price target on shares of Level 3 Communications from $59.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $61.55.

Shares of Level 3 Communications, Inc. (LVLT) traded up $0.93 on Monday, hitting $53.63. 3,119,100 shares of the stock traded hands, compared to its average volume of 2,423,731. Level 3 Communications, Inc. has a 52 week low of $50.82 and a 52 week high of $64.61. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.79 and a quick ratio of 1.79.

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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.

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

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