Insider Selling: Level 3 Communications Insider Unloads 6,595 Shares of Stock (LVLT)
Level 3 Communications (NYSE:LVLT) Insider James Barton Heard sold 6,595 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $32.55, for a total value of $214,667.25. Following the completion of the transaction, the insider now directly owns 60,358 shares in the company, valued at approximately $1,964,653. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Level 3 Communications (NYSE:LVLT) traded up 3.62% during mid-day trading on Monday, hitting $33.78. The stock had a trading volume of 2,149,056 shares. Level 3 Communications has a 52 week low of $19.12 and a 52 week high of $33.35. The stock’s 50-day moving average is $30.86 and its 200-day moving average is $26.01. The company’s market cap is $7.553 billion.
Level 3 Communications (NYSE:LVLT) last released its earnings data on Wednesday, October 30th. The company reported ($0.09) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.04) by $0.05. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the company posted ($0.76) earnings per share. Level 3 Communications’s revenue was down 1.3% compared to the same quarter last year. On average, analysts predict that Level 3 Communications will post $-0.49 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on LVLT shares. Analysts at Zacks upgraded shares of Level 3 Communications from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, December 31st. They now have a $35.30 price target on the stock. Separately, analysts at Drexel Hamilton initiated coverage on shares of Level 3 Communications in a research note to investors on Thursday, December 19th. They set a “hold” rating on the stock. Finally, analysts at Jefferies Group initiated coverage on shares of Level 3 Communications in a research note to investors on Thursday, December 19th. They set a “buy” rating and a $36.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $31.37.
Level 3 Communications, Inc (NYSE:LVLT) is a facilities-based provider of a range of integrated communications services.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.