Liberty Latin America (NASDAQ:LILAK) Shares Gap Down – Here’s Why

Liberty Latin America Ltd. (NASDAQ:LILAK)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $10.24, but opened at $9.24. Liberty Latin America shares last traded at $8.37, with a volume of 464,245 shares traded.

Analyst Upgrades and Downgrades

LILAK has been the subject of several recent research reports. Pivotal Research decreased their price target on Liberty Latin America from $18.00 to $15.00 and set a “buy” rating for the company in a report on Monday, August 12th. The Goldman Sachs Group restated a “neutral” rating and issued a $10.50 price objective (up previously from $9.30) on shares of Liberty Latin America in a research note on Wednesday, September 4th. Finally, StockNews.com downgraded Liberty Latin America from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th.

Liberty Latin America Stock Performance

The stock has a market cap of $1.64 billion, a P/E ratio of -19.76 and a beta of 1.12. The business has a 50 day simple moving average of $9.57 and a 200-day simple moving average of $9.24.

Liberty Latin America (NASDAQ:LILAK) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The business had revenue of $1.12 billion during the quarter.

Insider Activity

In other news, CAO Brian D. Zook sold 26,197 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $9.58, for a total transaction of $250,967.26. Following the transaction, the chief accounting officer now owns 28,788 shares of the company’s stock, valued at $275,789.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 9.66% of the company’s stock.

Institutional Trading of Liberty Latin America

Institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new stake in shares of Liberty Latin America in the 1st quarter valued at about $41,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Liberty Latin America in the 1st quarter valued at about $44,000. nVerses Capital LLC purchased a new stake in shares of Liberty Latin America in the 3rd quarter valued at about $55,000. Paloma Partners Management Co purchased a new stake in shares of Liberty Latin America in the 1st quarter valued at about $75,000. Finally, Algert Global LLC purchased a new stake in shares of Liberty Latin America in the 2nd quarter valued at about $126,000. Hedge funds and other institutional investors own 52.98% of the company’s stock.

About Liberty Latin America

Liberty Latin America Ltd., together with its subsidiaries, provides fixed, mobile, and subsea telecommunications services. The company operates through C&W Caribbean, C&W Panama, Liberty Networks, Liberty Puerto Rico, and Liberty Costa Rico segments. It offers communications and entertainment services, including video, broadband internet, fixed-line, telephony, and mobiles services to residential and business customers; and business products and services that include enterprise-grade connectivity, data center, hosting, and managed solutions, as well as information technology solutions for small and medium enterprises, international companies, and governmental agencies.