Liberty Latin America (NASDAQ:LILAK) Upgraded by Scotiabank to Sector Outperform

Scotiabank upgraded shares of Liberty Latin America (NASDAQ:LILAK - Free Report) from a sector perform rating to a sector outperform rating in a research note issued to investors on Monday, Benzinga reports. They currently have $10.70 price objective on the stock, up from their prior price objective of $7.70.

Several other equities research analysts have also recently weighed in on the company. StockNews.com cut Liberty Latin America from a buy rating to a hold rating in a research note on Friday, March 8th. Pivotal Research boosted their target price on Liberty Latin America from $17.00 to $18.00 and gave the stock a buy rating in a research note on Friday.

Liberty Latin America Stock Down 0.6 %

Shares of LILAK stock traded down $0.05 on Monday, reaching $8.35. The stock had a trading volume of 831,652 shares, compared to its average volume of 1,190,009. Liberty Latin America has a 12 month low of $5.95 and a 12 month high of $9.73. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -278.24 and a beta of 1.11. The firm's 50-day moving average is $7.22 and its two-hundred day moving average is $7.05.

Liberty Latin America (NASDAQ:LILAK - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.49) EPS for the quarter. The business had revenue of $1.16 billion for the quarter.

Insiders Place Their Bets

In related news, major shareholder John C. Malone purchased 484,673 shares of the business's stock in a transaction on Friday, March 22nd. The stock was acquired at an average price of $6.72 per share, for a total transaction of $3,257,002.56. Following the purchase, the insider now owns 8,360,255 shares of the company's stock, valued at $56,180,913.60. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, major shareholder John C. Malone purchased 484,673 shares of the company's stock in a transaction that occurred on Friday, March 22nd. The shares were bought at an average cost of $6.72 per share, with a total value of $3,257,002.56. Following the completion of the transaction, the insider now directly owns 8,360,255 shares of the company's stock, valued at $56,180,913.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Brian D. Zook sold 27,711 shares of the company's stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $6.76, for a total transaction of $187,326.36. Following the completion of the sale, the chief accounting officer now directly owns 34,798 shares of the company's stock, valued at $235,234.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 1,220,056 shares of company stock worth $8,247,512. Insiders own 9.66% of the company's stock.

Hedge Funds Weigh In On Liberty Latin America

Several institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Liberty Latin America by 34.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,774 shares of the company's stock valued at $243,000 after buying an additional 7,580 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Liberty Latin America by 166.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,321 shares of the company's stock worth $158,000 after buying an additional 12,063 shares during the period. Olympiad Research LP purchased a new position in Liberty Latin America in the 3rd quarter valued at approximately $226,000. Principal Financial Group Inc. lifted its position in shares of Liberty Latin America by 49.2% during the third quarter. Principal Financial Group Inc. now owns 64,089 shares of the company's stock worth $523,000 after acquiring an additional 21,133 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Liberty Latin America by 499.4% in the third quarter. Victory Capital Management Inc. now owns 93,253 shares of the company's stock worth $761,000 after acquiring an additional 77,694 shares during the period. Institutional investors own 52.98% of the company's stock.

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.