Liberty Latin America (NASDAQ:LILAK) Stock Price Passes Above 50-Day Moving Average of $8.57

Liberty Latin America Ltd. (NASDAQ:LILAK)’s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $8.57 and traded as high as $9.62. Liberty Latin America shares last traded at $9.40, with a volume of 823,081 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on LILAK shares. Pivotal Research upped their price objective on shares of Liberty Latin America from $17.00 to $18.00 and gave the company a “buy” rating in a report on Friday, May 10th. Scotiabank upgraded shares of Liberty Latin America from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $7.70 to $10.70 in a research note on Monday, May 13th. Finally, StockNews.com downgraded shares of Liberty Latin America from a “buy” rating to a “hold” rating in a research report on Friday, March 8th.

Liberty Latin America Price Performance

The stock has a market cap of $1.85 billion, a P/E ratio of -313.23 and a beta of 1.14. The stock has a 50-day simple moving average of $8.57 and a 200-day simple moving average of $7.52.

Insider Activity

In other news, Director Brendan J. Paddick purchased 250,000 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were purchased at an average cost of $8.85 per share, with a total value of $2,212,500.00. Following the completion of the purchase, the director now owns 886,108 shares of the company’s stock, valued at approximately $7,842,055.80. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Liberty Latin America news, Director Brendan J. Paddick purchased 250,000 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were bought at an average price of $8.85 per share, for a total transaction of $2,212,500.00. Following the completion of the acquisition, the director now owns 886,108 shares in the company, valued at $7,842,055.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brendan J. Paddick acquired 150,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was bought at an average price of $9.10 per share, with a total value of $1,365,000.00. Following the completion of the acquisition, the director now directly owns 1,036,108 shares of the company’s stock, valued at $9,428,582.80. The disclosure for this purchase can be found here. 9.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Liberty Latin America

A number of hedge funds have recently bought and sold shares of LILAK. Charles Schwab Investment Management Inc. lifted its stake in Liberty Latin America by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,758,415 shares of the company’s stock valued at $27,587,000 after buying an additional 120,234 shares during the period. DAVENPORT & Co LLC increased its stake in shares of Liberty Latin America by 8.9% in the 1st quarter. DAVENPORT & Co LLC now owns 3,559,940 shares of the company’s stock valued at $24,884,000 after acquiring an additional 291,155 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Liberty Latin America by 6.4% during the 1st quarter. Vanguard Group Inc. now owns 3,271,414 shares of the company’s stock valued at $22,867,000 after acquiring an additional 197,988 shares during the period. Fourth Sail Capital LP acquired a new stake in Liberty Latin America in the fourth quarter worth $19,871,000. Finally, Norges Bank bought a new stake in Liberty Latin America in the fourth quarter valued at $8,712,000. 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.