Wittenberg Investment Management Inc. Sells 36,259 Shares of Liberty Latin America Ltd. (NASDAQ:LILA)

Key Points

• Wittenberg Investment Management Inc. reduced its stake in Liberty Latin America by 5.8%, selling 36,259 shares and bringing its total ownership to 588,427 shares.
• Liberty Latin America reported a loss of $0.69 EPS for the last quarter, missing analysts' expectations, with revenue of $1.08 billion, below the anticipated $1.10 billion.
• The company received an upgrade to a "strong-buy" rating from Benchmark on June 2nd, indicating increased investor confidence in its future performance.

Wittenberg Investment Management Inc. trimmed its holdings in shares of Liberty Latin America Ltd. (NASDAQ:LILA - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 588,427 shares of the company's stock after selling 36,259 shares during the period. Liberty Latin America comprises about 1.7% of Wittenberg Investment Management Inc.'s portfolio, making the stock its 11th largest position. Wittenberg Investment Management Inc. owned approximately 0.30% of Liberty Latin America worth $3,725,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in LILA. Hsbc Holdings PLC purchased a new position in Liberty Latin America in the fourth quarter valued at about $2,526,000. UMB Bank n.a. boosted its stake in Liberty Latin America by 37.5% in the first quarter. UMB Bank n.a. now owns 232,901 shares of the company's stock valued at $1,474,000 after acquiring an additional 63,486 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Liberty Latin America by 132.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 221,468 shares of the company's stock valued at $1,409,000 after purchasing an additional 126,383 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Liberty Latin America by 38.3% in the 4th quarter. Bank of America Corp DE now owns 186,493 shares of the company's stock worth $1,186,000 after purchasing an additional 51,664 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Liberty Latin America during the 4th quarter worth $37,000. Hedge funds and other institutional investors own 18.48% of the company's stock.

Liberty Latin America Trading Up 0.8%

Shares of Liberty Latin America stock opened at $7.17 on Thursday. Liberty Latin America Ltd. has a fifty-two week low of $4.25 and a fifty-two week high of $10.79. The company has a debt-to-equity ratio of 5.00, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $1.43 billion, a P/E ratio of -1.78 and a beta of 0.98. The firm has a 50-day simple moving average of $6.05 and a two-hundred day simple moving average of $6.07.

Liberty Latin America (NASDAQ:LILA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.69) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.62). Liberty Latin America had a negative return on equity of 44.60% and a negative net margin of 17.85%. The company had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.10 billion. As a group, equities analysts predict that Liberty Latin America Ltd. will post -0.22 earnings per share for the current fiscal year.

Insider Transactions at Liberty Latin America

In related news, CEO Balan Nair purchased 22,779 shares of Liberty Latin America stock in a transaction dated Monday, May 12th. The shares were acquired at an average cost of $4.39 per share, with a total value of $99,999.81. Following the purchase, the chief executive officer owned 1,651,001 shares of the company's stock, valued at approximately $7,247,894.39. The trade was a 1.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Christopher J. Noyes acquired 8,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were bought at an average cost of $4.53 per share, with a total value of $36,240.00. Following the transaction, the chief financial officer directly owned 231,621 shares in the company, valued at $1,049,243.13. This trade represents a 3.58% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 11.96% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Benchmark upgraded Liberty Latin America to a "strong-buy" rating in a research note on Monday, June 2nd.

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.

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