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

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

Analysts Set New Price Targets

Several research firms have issued reports on LILAK. StockNews.com lowered Liberty Latin America from a “buy” rating to a “hold” rating in a research note on Friday, March 8th. Scotiabank upgraded shares of Liberty Latin America from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock 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 company a “buy” rating in a research note on Friday, May 10th.

Liberty Latin America Trading Down 2.6 %

The stock’s fifty day moving average is $8.57 and its 200-day moving average is $7.52.

Insider Activity

In related news, Director Brendan J. Paddick bought 250,000 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was acquired at an average price of $8.85 per share, with a total value of $2,212,500.00. Following the completion of the purchase, the director now directly owns 886,108 shares of the company’s stock, valued at $7,842,055.80. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Liberty Latin America news, Director Brendan J. Paddick bought 150,000 shares of the stock in a transaction on Monday, June 24th. The shares were 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 directly owns 1,036,108 shares in the company, valued at approximately $9,428,582.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brendan J. Paddick bought 250,000 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were acquired at an average cost of $8.85 per share, with a total value of $2,212,500.00. Following the acquisition, the director now directly owns 886,108 shares of the company’s stock, valued at $7,842,055.80. The disclosure for this purchase can be found here. Insiders own 9.66% of the company’s stock.

Institutional Investors Weigh In On Liberty Latin America

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its stake in Liberty Latin America by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,758,415 shares of the company’s stock worth $27,587,000 after purchasing an additional 120,234 shares during the period. DAVENPORT & Co LLC raised its position in shares of Liberty Latin America by 8.9% during 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. lifted its holdings in Liberty Latin America by 6.4% in the first quarter. Vanguard Group Inc. now owns 3,271,414 shares of the company’s stock valued at $22,867,000 after acquiring an additional 197,988 shares during the last quarter. Fourth Sail Capital LP acquired a new position in Liberty Latin America in the fourth quarter valued at approximately $19,871,000. Finally, Norges Bank purchased a new position in Liberty Latin America in the fourth quarter worth approximately $8,712,000. Institutional investors and hedge funds 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.