Liberty Latin America (NASDAQ:LILA) Stock Price Down 4.3% - Here's What Happened

Key Points

• Liberty Latin America shares fell 4.3% to $8.39 during mid-day trading, with volume down 91% from the average daily level.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating and a consensus price target of $10.00, including Morgan Stanley’s “underweight” rating and $7.00 target.
• The company reported a quarterly loss of $0.13 per share on $1.10 billion in revenue, while insiders purchased approximately 970,439 shares over the past three months.

Liberty Latin America Ltd. (NASDAQ:LILA - Get Free Report)'s share price dropped 4.3% during mid-day trading on Friday. The company traded as low as $8.40 and last traded at $8.39. Approximately 44,249 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 470,706 shares. The stock had previously closed at $8.77.

Wall Street Analyst Weigh In

A number of research firms recently commented on LILA. Weiss Ratings reiterated a "sell (d-)" rating on shares of Liberty Latin America in a research report on Friday, July 17th. UBS Group raised Liberty Latin America to a "hold" rating in a research note on Thursday, September 3rd. Finally, Morgan Stanley lowered Liberty Latin America from an "equal weight" rating to an "underweight" rating and set a $7.00 price target for the company. in a research note on Thursday, August 20th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $10.00.

Liberty Latin America Stock Performance

The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 8.08. The stock has a market capitalization of $1.60 billion, a PE ratio of -16.68 and a beta of 0.72. The firm's fifty day moving average price is $8.57 and its two-hundred day moving average price is $8.03.

Liberty Latin America (NASDAQ:LILA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. Liberty Latin America had a negative return on equity of 9.29% and a negative net margin of 2.20%. As a group, equities research analysts forecast that Liberty Latin America Ltd. will post -0.47 EPS for the current year.

Insider Activity at Liberty Latin America

In related news, Director Angoitia Alfonso De bought 313,104 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was acquired at an average price of $20.95 per share, for a total transaction of $6,559,528.80. Following the acquisition, the director owned 476,190 shares in the company, valued at approximately $9,976,180.50. This represents a 191.99% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles H. R. Bracken sold 42,975 shares of Liberty Latin America stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $8.57, for a total value of $368,295.75. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders purchased 970,439 shares of company stock worth $16,180,721. Company insiders own 6.25% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rubric Capital Management LP raised its position in shares of Liberty Latin America by 93.0% in the 1st quarter. Rubric Capital Management LP now owns 3,750,000 shares of the company's stock worth $32,400,000 after buying an additional 1,806,935 shares during the period. Fourth Sail Capital LP raised its position in shares of Liberty Latin America by 21.5% during the 4th quarter. Fourth Sail Capital LP now owns 909,742 shares of the company's stock valued at $6,723,000 after acquiring an additional 160,981 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Liberty Latin America by 27.3% during the 1st quarter. Renaissance Technologies LLC now owns 864,559 shares of the company's stock worth $7,470,000 after purchasing an additional 185,300 shares during the period. State Street Corp grew its position in Liberty Latin America by 11.6% in the 2nd quarter. State Street Corp now owns 750,725 shares of the company's stock worth $5,886,000 after purchasing an additional 77,953 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Liberty Latin America during the 2nd quarter valued at about $3,140,000. 18.48% of the stock is currently owned by institutional investors and hedge funds.

About Liberty Latin America

Liberty Latin America Ltd. is a telecommunications company that provides communications and entertainment services across Latin America and the Caribbean. Its offerings include broadband internet, fixed-line and mobile voice services, pay television and data connectivity for residential, business and government customers.

The company operates through consumer and business-focused brands, including Liberty and Flow, while its business services include dedicated connectivity, cloud solutions, managed services, cybersecurity and information technology support.

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