Liberty Latin America (NASDAQ:LILAK) Stock Price Down 2.9%

Liberty Latin America Ltd. (NASDAQ:LILAK)’s share price dropped 2.9% during trading on Wednesday . The company traded as low as $9.12 and last traded at $9.13. Approximately 265,135 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 1,119,036 shares. The stock had previously closed at $9.40.

Wall Street Analyst Weigh In

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

Liberty Latin America Stock Performance

The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -305.33 and a beta of 1.14. The company has a 50 day moving average price of $8.64 and a two-hundred day moving average price of $7.54.

Insider Activity at Liberty Latin America

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

Institutional Investors Weigh In On Liberty Latin America

Hedge funds have recently modified their holdings of the company. Fourth Sail Capital LP acquired a new stake in Liberty Latin America during the fourth quarter worth $19,871,000. Norges Bank acquired a new stake in shares of Liberty Latin America during the 4th quarter worth about $8,712,000. DAVENPORT & Co LLC raised its holdings in 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 buying an additional 291,155 shares during the period. Vanguard Group Inc. raised its holdings in Liberty Latin America by 6.4% in the 1st quarter. Vanguard Group Inc. now owns 3,271,414 shares of the company’s stock valued at $22,867,000 after buying an additional 197,988 shares during the period. Finally, National Bank of Canada FI lifted its position in Liberty Latin America by 47,400.0% in the fourth quarter. National Bank of Canada FI now owns 166,250 shares of the company’s stock valued at $1,229,000 after buying an additional 165,900 shares during the last quarter. Hedge funds and other 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.