Liberty Latin America (NASDAQ:LILAK) Trading Down 6% on Disappointing Earnings

Liberty Latin America Ltd. (NASDAQ:LILAK) dropped 6% on Wednesday following a dissappointing earnings announcement. The stock traded as low as $9.18 and last traded at $9.55. Approximately 177,970 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 1,122,103 shares. The stock had previously closed at $10.16.

The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.14).

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LILAK. Pivotal Research boosted their price objective on Liberty Latin America from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Scotiabank upgraded 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 report on Monday, May 13th.

Insider Buying and Selling

In other news, insider Dustin Henderson sold 5,906 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $10.00, for a total value of $59,060.00. Following the completion of the sale, the insider now directly owns 1,600 shares of the company’s stock, valued at $16,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Brendan J. Paddick acquired 150,000 shares of Liberty Latin America stock in a transaction on Monday, June 24th. The stock was acquired at an average cost of $9.10 per share, with a total value of $1,365,000.00. Following the completion of the acquisition, the director now owns 1,036,108 shares in the company, valued at $9,428,582.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dustin Henderson sold 5,906 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $10.00, for a total value of $59,060.00. Following the transaction, the insider now directly owns 1,600 shares of the company’s stock, valued at $16,000. The disclosure for this sale can be found here. 9.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On Liberty Latin America

Several institutional investors have recently made changes to their positions in LILAK. Bfsg LLC bought a new position in shares of Liberty Latin America during the fourth quarter valued at about $41,000. Headlands Technologies LLC bought a new stake in shares of Liberty Latin America in the first quarter worth about $41,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Liberty Latin America in the first quarter worth about $44,000. Hartline Investment Corp bought a new stake in shares of Liberty Latin America in the first quarter worth about $74,000. Finally, Paloma Partners Management Co bought a new stake in shares of Liberty Latin America in the first quarter worth about $75,000. Hedge funds and other institutional investors own 52.98% of the company’s stock.

Liberty Latin America Price Performance

The company has a market capitalization of $1.86 billion, a P/E ratio of -338.55 and a beta of 1.14. The company has a 50 day moving average of $9.41 and a 200-day moving average of $8.00.

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.