Liberty Latin America (NASDAQ:LILA) Shares Gap Down – Here’s What Happened

Shares of Liberty Latin America Ltd. (NASDAQ:LILA) gapped down prior to trading on Thursday . The stock had previously closed at $8.34, but opened at $7.90. Liberty Latin America shares last traded at $8.1160, with a volume of 106,673 shares trading hands.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Liberty Latin America in a research report on Friday, July 17th. Morgan Stanley downgraded shares of Liberty Latin America from an “equal weight” rating to an “underweight” rating and set a $7.00 target price on the stock. in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Liberty Latin America currently has a consensus rating of “Reduce” and an average target price of $10.00.

Liberty Latin America Stock Performance

The firm has a fifty day simple moving average of $7.61 and a 200-day simple moving average of $7.85. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -17.29 and a beta of 0.74. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 8.08.

Liberty Latin America (NASDAQ:LILA) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.13) earnings per share for the quarter. Liberty Latin America had a negative return on equity of 9.29% and a negative net margin of 2.20%.The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. Analysts forecast that Liberty Latin America Ltd. will post -0.22 EPS for the current fiscal year.

Insider Activity at Liberty Latin America

In related news, SVP John M. Winter bought 5,071 shares of the business’s stock in a transaction on Friday, June 26th. The shares were purchased at an average price of $19.67 per share, with a total value of $99,746.57. Following the completion of the purchase, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles H. R. Bracken purchased 17,425 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was purchased at an average price of $20.93 per share, for a total transaction of $364,705.25. Following the completion of the transaction, the director directly owned 41,192 shares in the company, valued at $862,148.56. This trade represents a 73.32% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 2,685,679 shares of company stock worth $17,777,706. 6.25% of the stock is owned by insiders.

Institutional Trading of Liberty Latin America

A number of large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new position in Liberty Latin America during the second quarter worth about $99,000. Cook & Bynum Capital Management LLC bought a new stake in shares of Liberty Latin America in the second quarter worth about $1,111,093,000. Ancora Advisors LLC bought a new stake in shares of Liberty Latin America in the second quarter worth about $382,000. Great Lakes Advisors LLC acquired a new stake in shares of Liberty Latin America during the second quarter worth about $82,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Liberty Latin America during the second quarter worth about $690,000. Institutional investors own 18.48% of the company’s stock.

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.