Liberty Latin America (NASDAQ:LILA) Trading Up 8.8% – Here’s What Happened

Liberty Latin America Ltd. (NASDAQ:LILA) shares traded up 8.8% during trading on Tuesday . The company traded as high as $8.51 and last traded at $8.4760. 350,366 shares were traded during trading, a decline of 28% from the average session volume of 483,934 shares. The stock had previously closed at $7.79.

Wall Street Analyst Weigh In

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

Liberty Latin America Price Performance

The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -3.32 and a beta of 0.74. The stock’s 50 day moving average price is $7.38 and its two-hundred day moving average price is $7.71. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 7.74.

Liberty Latin America (NASDAQ:LILA) last posted its earnings results on Thursday, May 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.14). Liberty Latin America had a negative net margin of 11.20% and a negative return on equity of 45.66%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. Equities research analysts forecast that Liberty Latin America Ltd. will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director John C. Malone bought 12,406,463 shares of the stock in a transaction dated Friday, May 22nd. The shares were purchased at an average price of $8.63 per share, for a total transaction of $107,067,775.69. Following the completion of the purchase, the director directly owned 21,173,018 shares of the company’s stock, valued at $182,723,145.34. This represents a 141.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brendan J. Paddick bought 100,000 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were bought at an average cost of $4.88 per share, for a total transaction of $488,000.00. Following the completion of the acquisition, the director owned 1,559,542 shares of the company’s stock, valued at $7,610,564.96. This trade represents a 6.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 14,820,228 shares of company stock worth $121,249,631. Corporate insiders own 6.25% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Strs Ohio purchased a new stake in Liberty Latin America in the 1st quarter worth approximately $34,000. Russell Investments Group Ltd. grew its stake in shares of Liberty Latin America by 58.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 5,593 shares of the company’s stock worth $46,000 after purchasing an additional 2,070 shares during the period. Danske Bank A S purchased a new position in shares of Liberty Latin America during the 3rd quarter valued at approximately $56,000. Quantbot Technologies LP increased its holdings in shares of Liberty Latin America by 727.1% during the 3rd quarter. Quantbot Technologies LP now owns 7,154 shares of the company’s stock valued at $59,000 after purchasing an additional 6,289 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of Liberty Latin America in the 1st quarter valued at $77,000. 18.48% of the stock is owned by institutional investors and hedge funds.

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.