The Goldman Sachs Group reaffirmed their neutral rating on shares of Liberty Latin America (NASDAQ:LILAK – Free Report) in a report released on Wednesday morning, MarketBeat.com reports. The brokerage currently has a $10.50 price objective on the stock, up from their previous price objective of $9.30.
A number of other analysts have also weighed in on LILAK. StockNews.com lowered Liberty Latin America from a buy rating to a hold rating in a research report on Thursday, August 15th. Scotiabank raised Liberty Latin America from a sector perform rating to a sector outperform rating and increased their target price for the company from $7.70 to $10.70 in a report on Monday, May 13th. Finally, Pivotal Research dropped their target price on Liberty Latin America from $18.00 to $15.00 and set a buy rating on the stock in a report on Monday, August 12th.
Check Out Our Latest Analysis on Liberty Latin America
Liberty Latin America Trading Down 1.1 %
Liberty Latin America (NASDAQ:LILAK – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The firm had revenue of $1.12 billion during the quarter.
Insider Activity at Liberty Latin America
In related news, insider Dustin Henderson sold 5,906 shares of the stock in a transaction 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 transaction, the insider now owns 1,600 shares of the company’s stock, valued at $16,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Liberty Latin America news, insider Dustin Henderson sold 5,906 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $10.00, for a total transaction of $59,060.00. Following the transaction, the insider now owns 1,600 shares of the company’s stock, valued at $16,000. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Brendan J. Paddick acquired 250,000 shares of the company’s stock in a transaction on Friday, June 21st. The shares were purchased at an average cost of $8.85 per share, for a total transaction of $2,212,500.00. Following the acquisition, the director now owns 886,108 shares of the company’s stock, valued at approximately $7,842,055.80. The disclosure for this purchase can be found here. 9.66% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Liberty Latin America
Several hedge funds have recently made changes to their positions in the company. Banco Santander S.A. acquired a new stake in shares of Liberty Latin America during the second quarter worth about $13,188,000. Norges Bank acquired a new stake in shares of Liberty Latin America during the fourth quarter worth about $8,712,000. Millennium Management LLC boosted its stake in shares of Liberty Latin America by 305.1% during the second quarter. Millennium Management LLC now owns 986,782 shares of the company’s stock worth $9,493,000 after buying an additional 743,197 shares during the period. Genesis Investment Management LLP boosted its stake in shares of Liberty Latin America by 39.4% during the second quarter. Genesis Investment Management LLP now owns 2,609,237 shares of the company’s stock worth $25,101,000 after buying an additional 737,883 shares during the period. Finally, DAVENPORT & Co LLC boosted its stake in shares of Liberty Latin America by 8.9% during the first quarter. DAVENPORT & Co LLC now owns 3,559,940 shares of the company’s stock worth $24,884,000 after buying an additional 291,155 shares during the period. 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.
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