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Insider overview: Level 3 Communications Inc.
By Staff Reports
Published: 3/9/2009 2:20 AM
Last Modified: 3/9/2009 3:46 AM
James Quell Crowe, CEO, continued to sell his stock in Level 3 Communications, but now it commands about 70 cents per share.
Crowe sold 25,270 directly held shares on Feb. 27 at 70 cents per share with a market value of $17,807, and now holds 8,982,090 shares total common.
But about 17 months before, on July 2, Crowe sold 60,979 directly held shares at $5.82 with a market value of $354,897.
The last time he purchased shares was on May 12, 2004, when he bought 100,000 directly held shares between $2.95 and $2.98 with a market value of $296,654.
According to Thomson Reuters, the highest price Crowe sold his stock for was from March 9-16, 2000, when he sold 24,000 indirectly held stocks at between $108.78 and $130.22, with a market value of $2,591,600 — a monster drop when compared to the $17,807 he received for 1,270 more shares just last month. In fact, the drop is more than 99 percent.
Since 2007, Crowe has sold stock seven times, selling 665,394 shares at between 70 cents and $5.82 (on July 2, 2007), with a market value of more than $2.14 million.
Other Level 3 officers selling stock on Feb. 27 were:
Charles C. Miller, vice chairman of the board, sold 5,990 directly held shares at 70 cents with a market value of $4,213, and now holds 1,289,190 shares total common.
Thomas C. Stortz, chief legal officer and secretary, sold 9,550 directly held shares at 71 cents with a market value of $6,744, and now holds 1,776,890 shares total common.
Sunit S. Patel, chief financial officer, sold 7,600 directly held shares at 71 cents with a market value of $5,363, and now holds 1,435,680 shares total common.
Shares of Level 3 closed unchanged Friday at 73 cents. They have traded at a low of 57 cents on Dec. 24, and a high of $4.48 on June 5.
Pre-Paid Legal Services Inc.
: Peter K. Grunebaum, director, on Feb. 27 exercised options to buy 4,500 shares at $23.93 with a market value of $107,685, and on the same day sold 1,000 directly held shares at $32.10 with a market value of $32,100, and now holds 3,500 shares total common.
Pre-Paid Legal Shares closed Friday at $29.44, down 42 cents.
Alliance Resource Partners LP
: Wilson M. Torrence, director, on Feb. 26 purchased 1,896 directly held shares at between $25.87 and $25.99 with a market value of $49,237, and now holds 2,696 shares total common.
On Friday, shares of Alliance Resource Partners closed at $24.75, a loss of 18 cents.
By Staff Reports
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