Connor Clark & Lunn Investment Management Ltd. Raises Stake in Liberty Global PLC $LILAK

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly increased its stake in Liberty Global PLC, raising it by 519.5% after acquiring 34,213 additional shares, bringing its total holdings to 40,799 shares valued at approximately $253,000.
• Liberty Global reported a (-$2.12) earnings per share for the quarter, failing to meet analysts' expectations, with a revenue of $1.09 billion compared to the estimated $1.11 billion.
• Analysts have downgraded Liberty Global's stock rating from "buy" to "hold," with a consensus target price set at $7.90, indicating a cautious outlook for the company's performance.

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Liberty Global PLC (NASDAQ:LILAK - Free Report) by 519.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,799 shares of the company's stock after purchasing an additional 34,213 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Liberty Global were worth $253,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Wells Fargo & Company MN raised its stake in shares of Liberty Global by 375.7% in the fourth quarter. Wells Fargo & Company MN now owns 335,766 shares of the company's stock valued at $2,129,000 after buying an additional 265,180 shares during the period. Invesco Ltd. raised its stake in shares of Liberty Global by 0.7% in the fourth quarter. Invesco Ltd. now owns 639,448 shares of the company's stock valued at $4,054,000 after buying an additional 4,233 shares during the period. Townsquare Capital LLC bought a new stake in shares of Liberty Global in the fourth quarter valued at $80,000. Barclays PLC raised its stake in shares of Liberty Global by 11.4% in the fourth quarter. Barclays PLC now owns 223,019 shares of the company's stock valued at $1,413,000 after buying an additional 22,770 shares during the period. Finally, Mariner LLC bought a new stake in shares of Liberty Global in the fourth quarter valued at $316,000. Hedge funds and other institutional investors own 52.98% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Liberty Global from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Liberty Global currently has a consensus rating of "Moderate Buy" and an average target price of $7.90.

Liberty Global Price Performance

LILAK traded up $0.03 during trading on Tuesday, reaching $8.29. 2,137,077 shares of the company were exchanged, compared to its average volume of 1,942,574. The company's 50-day moving average is $6.91 and its two-hundred day moving average is $6.23. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -1.40 and a beta of 0.95. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 5.00. Liberty Global PLC has a 12-month low of $4.23 and a 12-month high of $10.67.

Liberty Global (NASDAQ:LILAK - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($2.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($2.14). The company had revenue of $1.09 billion for the quarter, compared to analysts' expectations of $1.11 billion. Liberty Global had a negative return on equity of 71.58% and a negative net margin of 26.61%.

Liberty Global Profile

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.