Liberty Latin America (NASDAQ:LILA) Issues Quarterly Earnings Results

Liberty Latin America (NASDAQ:LILA) issued its quarterly earnings results on Wednesday. The company reported ($0.13) EPS for the quarter, FiscalAI reports. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. Liberty Latin America had a negative return on equity of 45.66% and a negative net margin of 11.20%.

Liberty Latin America Price Performance

LILA stock remained flat at $8.38 during midday trading on Wednesday. 670,328 shares of the company’s stock were exchanged, compared to its average volume of 582,709. Liberty Latin America has a 1 year low of $4.77 and a 1 year high of $9.04. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -3.38 and a beta of 0.74. The stock’s 50 day simple moving average is $7.45 and its 200-day simple moving average is $7.77. The company has a debt-to-equity ratio of 7.74, a current ratio of 1.11 and a quick ratio of 1.11.

Analysts Set New Price Targets

A number of research firms have weighed in on LILA. Morgan Stanley set a $7.00 price target on Liberty Latin America in a research note on Friday, June 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Liberty Latin America in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Liberty Latin America has an average rating of “Hold” and an average target price of $10.00.

Insider Activity at Liberty Latin America

In related news, Director Charles H. R. Bracken bought 4,900 shares of Liberty Latin America stock in a transaction that occurred on Tuesday, June 23rd. The stock was acquired at an average price of $20.50 per share, with a total value of $100,450.00. Following the acquisition, the director owned 18,867 shares of the company’s stock, valued at approximately $386,773.50. This represents a 35.08% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John C. Malone bought 17,693 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was purchased at an average cost of $7.00 per share, for a total transaction of $123,851.00. Following the transaction, the director directly owned 3,725,813 shares of the company’s stock, valued at $26,080,691. The trade was a 0.48% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 14,820,228 shares of company stock worth $121,249,631 in the last quarter. 6.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Liberty Latin America

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Rubric Capital Management LP acquired a new position in shares of Liberty Latin America during the 3rd quarter worth approximately $14,450,000. Goldman Sachs Group Inc. increased its stake in Liberty Latin America by 318.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 940,207 shares of the company’s stock worth $6,948,000 after acquiring an additional 715,641 shares during the period. Virtu Financial LLC raised its holdings in Liberty Latin America by 52.2% in the 3rd quarter. Virtu Financial LLC now owns 1,411,830 shares of the company’s stock valued at $11,704,000 after acquiring an additional 484,016 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Liberty Latin America by 604.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 398,371 shares of the company’s stock valued at $2,430,000 after acquiring an additional 341,794 shares in the last quarter. Finally, Sculptor Capital LP bought a new stake in shares of Liberty Latin America during the 2nd quarter valued at $2,029,000. Institutional investors and hedge funds own 18.48% of the company’s stock.

About Liberty Latin America

Liberty Latin America is a telecommunications company that provides video, broadband internet, telephony and mobile services across Latin America and the Caribbean. The company’s operations span consumer and business markets, offering cable television packages, high-speed broadband connections, fixed-line voice services and wireless data plans. Through its brands, including Flow in several Caribbean territories and VTR in Chile, Liberty Latin America focuses on delivering converged digital solutions designed to meet both residential and enterprise needs.

Formed in 2018 as a spin-off from Liberty Global, Liberty Latin America built its initial footprint by integrating legacy assets acquired from Cable & Wireless Communications and Columbus Communications.