Liberty Latin America (NASDAQ:LILAK) Shares Down 3.6% After Analyst Downgrade

Liberty Latin America Ltd. (NASDAQ:LILAK) shares dropped 3.6% during mid-day trading on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $10.50 to $7.50. The Goldman Sachs Group currently has a neutral rating on the stock. Liberty Latin America traded as low as $6.66 and last traded at $6.70. Approximately 232,127 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 996,576 shares. The stock had previously closed at $6.95.

Several other brokerages have also recently issued reports on LILAK. Scotiabank decreased their price objective on Liberty Latin America from $9.40 to $8.30 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. Pivotal Research decreased their price objective on shares of Liberty Latin America from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, StockNews.com lowered Liberty Latin America from a “buy” rating to a “hold” rating in a report on Thursday, August 15th.

Insider Transactions at Liberty Latin America

In other Liberty Latin America news, Director Brendan J. Paddick bought 5,053 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was purchased at an average cost of $6.93 per share, for a total transaction of $35,017.29. Following the completion of the purchase, the director now owns 1,343,021 shares of the company’s stock, valued at $9,307,135.53. This trade represents a 0.38 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.66% of the company’s stock.

Hedge Funds Weigh In On Liberty Latin America

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC increased its holdings in shares of Liberty Latin America by 69.2% in the 3rd quarter. FMR LLC now owns 15,600,000 shares of the company’s stock worth $148,044,000 after acquiring an additional 6,379,203 shares during the period. Geode Capital Management LLC raised its position in Liberty Latin America by 1.2% in the third quarter. Geode Capital Management LLC now owns 3,378,992 shares of the company’s stock worth $32,073,000 after acquiring an additional 39,711 shares in the last quarter. State Street Corp boosted its holdings in Liberty Latin America by 0.4% during the third quarter. State Street Corp now owns 3,290,866 shares of the company’s stock worth $31,230,000 after buying an additional 11,510 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Liberty Latin America by 6.4% in the 1st quarter. Vanguard Group Inc. now owns 3,271,414 shares of the company’s stock worth $22,867,000 after acquiring an additional 197,988 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Liberty Latin America by 24.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,060,558 shares of the company’s stock valued at $29,045,000 after buying an additional 600,689 shares in the last quarter. Hedge funds and other institutional investors own 52.98% of the company’s stock.

Liberty Latin America Stock Performance

The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -2.37 and a beta of 1.04. The company has a debt-to-equity ratio of 4.31, a quick ratio of 1.06 and a current ratio of 1.06. The firm’s 50 day simple moving average is $8.65 and its 200-day simple moving average is $9.11.

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.