Level 3 Communications, Inc. (NYSE:LVLT) has seen an increase in support from the world’s most elite money managers recently.
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Equally as key, positive insider trading sentiment is a second way to parse down the investments you’re interested in. Just as you’d expect, there are many motivations for a corporate insider to drop shares of his or her company, but just one, very simple reason why they would buy. Various academic studies have demonstrated the useful potential of this method if “monkeys” understand where to look (learn more here).
Now, we’re going to take a peek at the latest action encompassing Level 3 Communications, Inc. (NYSE:LVLT).
What does the smart money think about Level 3 Communications, Inc. (NYSE:LVLT)?
In preparation for this quarter, a total of 19 of the hedge funds we track were long in this stock, a change of 6% from one quarter earlier. With hedge funds’ capital changing hands, there exists an “upper tier” of notable hedge fund managers who were boosting their stakes meaningfully.
As industrywide interest jumped, some big names were leading the bulls’ herd. Caxton Associates LP, managed by Bruce Kovner, assembled the most valuable position in Level 3 Communications, Inc. (NYSE:LVLT). Caxton Associates LP had 1.6 million invested in the company at the end of the quarter. Michael Johnston’s Steelhead Partners also made a $1.3 million investment in the stock during the quarter. The following funds were also among the new LVLT investors: David Costen Haley’s HBK Investments and Mike Vranos’s Ellington.
How are insiders trading Level 3 Communications, Inc. (NYSE:LVLT)?
Bullish insider trading is particularly usable when the company in focus has experienced transactions within the past six months. Over the latest six-month time frame, Level 3 Communications, Inc. (NYSE:LVLT) has seen 1 unique insiders buying, and 12 insider sales (see the details of insider trades here).
With the results exhibited by Insider Monkey’s research, retail investors should always watch hedge fund and insider trading activity, and Level 3 Communications, Inc. (NYSE:LVLT) is no exception.
