Liberty Latin America (NASDAQ:LILAK) Shares Gap Down After Earnings Miss

Shares of Liberty Latin America Ltd. (NASDAQ:LILAK) gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $7.15, but opened at $6.85. Liberty Latin America shares last traded at $6.33, with a volume of 374,353 shares traded.

The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($1.05). Liberty Latin America had a negative net margin of 13.02% and a negative return on equity of 27.22%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Scotiabank dropped their price target 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. The Goldman Sachs Group dropped their target price on shares of Liberty Latin America from $10.50 to $7.50 and set a “neutral” rating for the company in a research report on Wednesday, December 4th.

Insider Activity at Liberty Latin America

In related news, Director Brendan J. Paddick purchased 35,475 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was bought at an average cost of $7.04 per share, for a total transaction of $249,744.00. Following the completion of the transaction, the director now directly owns 1,273,443 shares in the company, valued at $8,965,038.72. This represents a 2.87 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders bought 156,298 shares of company stock valued at $1,043,886. Insiders own 9.66% of the company’s stock.

Hedge Funds Weigh In On Liberty Latin America

A number of large investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Liberty Latin America by 25.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 331,332 shares of the company’s stock valued at $2,101,000 after purchasing an additional 67,621 shares in the last quarter. Voloridge Investment Management LLC lifted its holdings in Liberty Latin America by 78.8% during the fourth quarter. Voloridge Investment Management LLC now owns 230,554 shares of the company’s stock worth $1,462,000 after buying an additional 101,601 shares during the period. Twinbeech Capital LP bought a new stake in Liberty Latin America during the 4th quarter valued at $168,000. ProShare Advisors LLC increased its holdings in shares of Liberty Latin America by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 36,509 shares of the company’s stock valued at $231,000 after acquiring an additional 12,014 shares during the period. Finally, Quantinno Capital Management LP raised its position in shares of Liberty Latin America by 102.9% in the 4th quarter. Quantinno Capital Management LP now owns 26,768 shares of the company’s stock worth $170,000 after acquiring an additional 13,575 shares in the last quarter. Hedge funds and other institutional investors own 52.98% of the company’s stock.

Liberty Latin America Stock Down 11.0 %

The business has a 50 day moving average of $6.60 and a two-hundred day moving average of $8.07. The stock has a market capitalization of $1.25 billion, a PE ratio of -2.16 and a beta of 1.02. The company has a debt-to-equity ratio of 4.31, a quick ratio of 1.06 and a current ratio of 1.06.

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.