Insider Selling: Level 3 Communications Director Unloads 1,000 Shares of Stock (LVLT)
Level 3 Communications (NASDAQ:LVLT) Director Archie Clemins sold 1,000 shares of the stock on the open market in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $28.39, for a total transaction of $28,390.00. Following the sale, the director now directly owns 43,585 shares in the company, valued at approximately $1,237,378. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
LVLT has been the subject of a number of recent research reports. Analysts at Macquarie raised their price target on shares of Level 3 Communications (NASDAQ:LVLT) from $24.00 to $28.00 in a research note to investors on Tuesday, September 24th. They now have a “neutral” rating on the stock. Separately, analysts at Morgan Stanley downgraded shares of Level 3 Communications (NASDAQ:LVLT) from an “overweight” rating to an “equal weight” rating in a research note to investors on Friday, September 20th. They now have a $28.00 price target on the stock. Finally, analysts at DA Davidson reiterated a “neutral” rating on shares of Level 3 Communications (NASDAQ:LVLT) in a research note to investors on Friday, September 13th. They now have a $25.50 price target on the stock, up previously from $23.50. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $24.94.
Level 3 Communications (NASDAQ:LVLT) traded up 0.57% during mid-day trading on Friday, hitting $28.10. The stock had a trading volume of 2,134,051 shares. Level 3 Communications has a one year low of $17.95 and a one year high of $28.72. The stock’s 50-day moving average is $24. and its 200-day moving average is $22.25. The company’s market cap is $6.257 billion.
Level 3 Communications (NASDAQ:LVLT) last announced its earnings results on Wednesday, July 31st. The company reported ($0.11) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.07) by $0.04. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the company posted ($0.29) earnings per share. Level 3 Communications’s revenue was down 1.3% compared to the same quarter last year.
Level 3 Communications, Inc (NASDAQ:LVLT) is a facilities-based provider of a range of integrated communications services.
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