Liberty Latin America (NASDAQ:LILA) Reaches New 12-Month High – Here’s What Happened

Liberty Latin America Ltd. (NASDAQ:LILA) hit a new 52-week high during trading on Wednesday. The stock traded as high as $9.04 and last traded at $8.9880, with a volume of 62,203 shares trading hands. The stock had previously closed at $8.73.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. UBS Group raised shares of Liberty Latin America to a “hold” rating in a report on Thursday, September 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Liberty Latin America in a report on Thursday, October 15th. Finally, Morgan Stanley downgraded 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 report on Thursday, August 20th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Liberty Latin America presently has a consensus rating of “Reduce” and a consensus target price of $10.00.

Liberty Latin America Trading Up 1.3%

The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 8.08. The business’s fifty day moving average is $8.47 and its 200-day moving average is $8.01. The stock has a market capitalization of $1.73 billion, a PE ratio of -18.05 and a beta of 0.78.

Liberty Latin America (NASDAQ:LILA) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share for the quarter. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Liberty Latin America had a negative return on equity of 9.29% and a negative net margin of 2.20%. As a group, analysts anticipate that Liberty Latin America Ltd. will post -0.47 EPS for the current fiscal year.

Insider Activity at Liberty Latin America

In other news, Director Angoitia Alfonso De purchased 313,104 shares of the stock in a transaction on Wednesday, September 2nd. The stock was purchased at an average price of $20.95 per share, with a total value of $6,559,528.80. Following the completion of the transaction, the director owned 476,190 shares in the company, valued at approximately $9,976,180.50. The trade was a 191.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Malone purchased 113,704 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average cost of $10.12 per share, with a total value of $1,150,684.48. Following the completion of the transaction, the director owned 1,351,126 shares in the company, valued at $13,673,395.12. This trade represents a 9.19% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 970,439 shares of company stock worth $16,180,721. 6.25% of the stock is owned by insiders.

Hedge Funds Weigh In On Liberty Latin America

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rubric Capital Management LP grew its position in shares of Liberty Latin America by 93.0% during the 1st quarter. Rubric Capital Management LP now owns 3,750,000 shares of the company’s stock valued at $32,400,000 after acquiring an additional 1,806,935 shares during the period. Renaissance Technologies LLC increased its position in Liberty Latin America by 27.3% in the first quarter. Renaissance Technologies LLC now owns 864,559 shares of the company’s stock worth $7,470,000 after buying an additional 185,300 shares in the last quarter. State Street Corp raised its stake in shares of Liberty Latin America by 11.6% in the second quarter. State Street Corp now owns 750,725 shares of the company’s stock worth $5,886,000 after buying an additional 77,953 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Liberty Latin America in the second quarter worth about $3,140,000. Finally, Empowered Funds LLC raised its stake in shares of Liberty Latin America by 9.9% in the first quarter. Empowered Funds LLC now owns 265,587 shares of the company’s stock worth $2,295,000 after buying an additional 23,954 shares during the period. Institutional investors own 18.48% of the company’s stock.

About Liberty Latin America

Liberty Latin America Ltd. (NASDAQ: LILA) is a telecommunications and connectivity company serving customers across Latin America and the Caribbean. Its operations provide broadband internet, mobile and fixed-line communications, video and entertainment services, and business connectivity solutions to residential, commercial, and government customers.

The company operates through a portfolio of regional businesses and brands, including Liberty and Flow, as well as operations in markets such as Puerto Rico, Chile, Costa Rica, Panama, and several Caribbean countries.