Liberty Latin America (NASDAQ:LILA) Issues Quarterly Earnings Results

Liberty Latin America (NASDAQ:LILA) announced its quarterly earnings data on Wednesday. The company reported ($0.13) EPS for the quarter, FiscalAI reports. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Liberty Latin America had a negative net margin of 11.20% and a negative return on equity of 45.66%.

Liberty Latin America Price Performance

NASDAQ LILA remained flat at $8.38 during mid-day trading on Wednesday. 670,328 shares of the company were exchanged, compared to its average volume of 582,709. Liberty Latin America has a 52 week low of $4.77 and a 52 week high of $9.04. The firm has a market cap of $1.69 billion, a PE ratio of -3.38 and a beta of 0.74. The business’s 50-day moving average price is $7.45 and its two-hundred day moving average price is $7.77. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 7.74.

Insiders Place Their Bets

In other Liberty Latin America news, SVP John M. Winter acquired 5,071 shares of Liberty Latin America stock in a transaction that occurred on Friday, June 26th. The stock was bought at an average cost of $19.67 per share, for a total transaction of $99,746.57. Following the acquisition, the senior vice president owned 64,547 shares of the company’s stock, valued at $1,269,639.49. This represents a 8.53% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John C. Malone bought 12,406,463 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was acquired at an average cost of $8.63 per share, with a total value of $107,067,775.69. Following the transaction, the director owned 21,173,018 shares in the company, valued at $182,723,145.34. The trade was a 141.52% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 14,820,228 shares of company stock worth $121,249,631 over the last three months. Company insiders own 6.25% of the company’s stock.

Institutional Trading of Liberty Latin America

A number of institutional investors have recently made changes to their positions in the stock. Rubric Capital Management LP purchased a new position in shares of Liberty Latin America during the third quarter valued at approximately $14,450,000. Goldman Sachs Group Inc. boosted its holdings in Liberty Latin America by 318.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 940,207 shares of the company’s stock worth $6,948,000 after purchasing an additional 715,641 shares during the last quarter. Virtu Financial LLC boosted its holdings in Liberty Latin America by 52.2% in the third quarter. Virtu Financial LLC now owns 1,411,830 shares of the company’s stock worth $11,704,000 after purchasing an additional 484,016 shares during the last quarter. BNP Paribas Financial Markets grew its position in Liberty Latin America by 604.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 398,371 shares of the company’s stock worth $2,430,000 after purchasing an additional 341,794 shares during the period. Finally, Sculptor Capital LP purchased a new stake in Liberty Latin America during the 2nd quarter valued at $2,029,000. Hedge funds and other institutional investors own 18.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LILA. Morgan Stanley set a $7.00 price target on shares of Liberty Latin America in a research note on Friday, June 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Liberty Latin America in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $10.00.

About Liberty Latin America

Liberty Latin America is a telecommunications company that provides video, broadband internet, telephony and mobile services across Latin America and the Caribbean. The company’s operations span consumer and business markets, offering cable television packages, high-speed broadband connections, fixed-line voice services and wireless data plans. Through its brands, including Flow in several Caribbean territories and VTR in Chile, Liberty Latin America focuses on delivering converged digital solutions designed to meet both residential and enterprise needs.

Formed in 2018 as a spin-off from Liberty Global, Liberty Latin America built its initial footprint by integrating legacy assets acquired from Cable & Wireless Communications and Columbus Communications.