Wittenberg Investment Management Inc. Cuts Stock Holdings in 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. lessened its holdings in Liberty Latin America Ltd. (NASDAQ:LILA - Free Report) by 5.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 588,427 shares of the company's stock after selling 36,259 shares during the quarter. Liberty Latin America accounts for 1.7% of Wittenberg Investment Management Inc.'s investment portfolio, making the stock its 11th biggest position. Wittenberg Investment Management Inc. owned 0.30% of Liberty Latin America worth $3,725,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new position in shares of Liberty Latin America in the fourth quarter valued at about $37,000. Marshall Wace LLP purchased a new stake in Liberty Latin America in the fourth quarter worth about $77,000. Price T Rowe Associates Inc. MD grew its holdings in Liberty Latin America by 12.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,503 shares of the company's stock worth $80,000 after purchasing an additional 1,422 shares during the period. GAMMA Investing LLC lifted its stake in shares of Liberty Latin America by 1,315.2% in the first quarter. GAMMA Investing LLC now owns 15,496 shares of the company's stock worth $98,000 after buying an additional 14,401 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Liberty Latin America by 29.6% in the fourth quarter. Millennium Management LLC now owns 24,499 shares of the company's stock worth $156,000 after buying an additional 5,602 shares in the last quarter. Hedge funds and other institutional investors own 18.48% of the company's stock.

Liberty Latin America Stock Performance

LILA traded down $0.26 during trading on Monday, hitting $7.53. The company's stock had a trading volume of 231,347 shares, compared to its average volume of 452,318. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 6.78. Liberty Latin America Ltd. has a one year low of $4.25 and a one year high of $10.79. The firm has a market cap of $1.51 billion, a PE ratio of -1.27 and a beta of 0.98. The business's 50 day simple moving average is $6.16 and its 200-day simple moving average is $6.07.

Liberty Latin America (NASDAQ:LILA - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($2.12) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($2.13). Liberty Latin America had a negative return on equity of 77.72% and a negative net margin of 26.61%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.10 billion. As a group, sell-side analysts predict that Liberty Latin America Ltd. will post -0.22 EPS for the current fiscal year.

Analyst Ratings Changes

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

Liberty Latin America Company 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.