Liberty Global (NASDAQ:LILAK) Issues Quarterly Earnings Results

Liberty Global (NASDAQ:LILAK) posted its quarterly earnings results on Wednesday. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.41), Zacks reports. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Liberty Global had a negative net margin of 2.20% and a negative return on equity of 8.50%.

Liberty Global Stock Performance

NASDAQ LILAK traded up $0.31 on Thursday, reaching $8.92. 3,800,776 shares of the company’s stock traded hands, compared to its average volume of 1,225,888. Liberty Global has a fifty-two week low of $4.76 and a fifty-two week high of $9.13. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -18.21 and a beta of 0.75. The stock has a 50 day moving average price of $8.42 and a 200-day moving average price of $8.04.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LILAK. Citigroup raised their price objective on Liberty Global from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Liberty Global in a research report on Thursday, October 15th. Finally, UBS Group assumed coverage on shares of Liberty Global in a report on Thursday, September 3rd. They issued a “neutral” rating and a $9.00 price target on the stock. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Liberty Global presently has an average rating of “Reduce” and an average target price of $9.00.

Insider Activity

In related news, Director John C. Malone bought 21,013 shares of the stock in a transaction dated Wednesday, September 30th. The shares were purchased at an average price of $8.98 per share, for a total transaction of $188,696.74. Following the completion of the purchase, the director directly owned 1,412,175 shares of the company’s stock, valued at $12,681,331.50. This represents a 1.51% 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 Angoitia Alfonso De bought 313,104 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was bought at an average price of $20.95 per share, for a total transaction of $6,559,528.80. Following the purchase, the director directly owned 476,190 shares of the company’s stock, valued at approximately $9,976,180.50. The trade was a 191.99% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 970,439 shares of company stock worth $16,180,721 over the last ninety days. 9.66% of the stock is owned by insiders.

About Liberty Global

NASDAQ:LILAK represents Class C ordinary shares of Liberty Latin America Ltd., not Liberty Global Ltd. Liberty Latin America is a telecommunications company serving customers across Latin America and the Caribbean. Its operations include broadband internet, mobile and fixed-line voice services, pay television, and business communications services.

The company provides connectivity and entertainment products to residential customers and offers data, voice, managed services, and information-technology solutions to businesses and government organizations.