A Major Shareholder at Level 3 Communications, Inc. (NYSE: LVLT) is Buying Shares

Today, a Major Shareholder at Level 3 Communications, Inc. (NYSE: LVLT), Stt Crossing Ltd, bought shares of LVLT for $7.13M.

In addition to Stt Crossing Ltd, one other LVLT executive reported Buy trades in the last month.

Based on Level 3`s latest earnings report from June 30, the company posted quarterly revenue of $2.06B and GAAP net loss of $13M. In comparison, last year the company earned revenue of $1.63B and had a net profit of $51M. The company has a one year high of $57.08 and a one year low of $37.61. LVLT’s market cap is $17.41B and the company has a P/E ratio of 56.7%.

Nine different firms, including Canaccord Genuity and Citigroup, currently also have a Buy rating on the stock.

Looking at blogger coverage of LVLT, there is a 100% Bullish tendency on the stock, in relation to a 67% average bullish tendency within the Technology sector.

In the last 30 days, insiders have sold $245.6k worth of LVLT shares and purchased $17.45M worth of LVLT shares. Over the last 3 months, the insider sentiment on Level 3 has been negative based on 88 corporate insider transactions. This sentiment is lower than the average sector sentiment of insiders.

Level 3 Communications Inc is a facilities based provider of a broad range of integrated communications services.