Liberty Latin America (NASDAQ:LILAK) Shares Down 2.9%

Liberty Latin America Ltd. (NASDAQ:LILAK)’s share price was down 2.9% on Wednesday . The company traded as low as $9.12 and last traded at $9.13. Approximately 265,135 shares traded hands during 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

LILAK has been the subject of a number of recent analyst reports. StockNews.com downgraded Liberty Latin America from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. Scotiabank raised shares of Liberty Latin America from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $7.70 to $10.70 in a research note on Monday, May 13th. 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 research report on Friday, May 10th.

Liberty Latin America Price Performance

The stock has a fifty day moving average of $8.57 and a two-hundred day moving average of $7.52.

Insider Activity

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

Hedge Funds Weigh In On Liberty Latin America

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bfsg LLC bought a new position in shares of Liberty Latin America during the fourth quarter worth about $41,000. Headlands Technologies LLC acquired a new position in shares of Liberty Latin America in the 1st quarter worth approximately $41,000. Federated Hermes Inc. grew its position in shares of Liberty Latin America by 543.7% in the 3rd quarter. Federated Hermes Inc. now owns 5,111 shares of the company’s stock worth $42,000 after acquiring an additional 4,317 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Liberty Latin America during the 1st quarter valued at approximately $44,000. Finally, Hartline Investment Corp bought a new position in Liberty Latin America during the first quarter worth $74,000. 52.98% of the stock is owned by hedge funds and other institutional investors.

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.