Liberty Latin America (NASDAQ:LILAK) Shares Gap Down – Here’s Why

Liberty Latin America Ltd. (NASDAQ:LILAK)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $10.24, but opened at $9.24. Liberty Latin America shares last traded at $8.37, with a volume of 464,245 shares changing hands.

Analysts Set New Price Targets

Several brokerages have recently commented on LILAK. The Goldman Sachs Group reiterated a “neutral” rating and set a $10.50 price objective (up from $9.30) on shares of Liberty Latin America in a research report on Wednesday, September 4th. Pivotal Research reduced their price objective on Liberty Latin America from $18.00 to $15.00 and set a “buy” rating on the stock 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 research report on Thursday, August 15th.

Liberty Latin America Stock Performance

The firm has a 50-day moving average of $9.57 and a 200-day moving average of $9.24. The firm has a market capitalization of $1.64 billion, a P/E ratio of -19.76 and a beta of 1.12.

Liberty Latin America (NASDAQ:LILAK) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The company had revenue of $1.12 billion during the quarter.

Insider Buying and Selling

In related news, CAO Brian D. Zook sold 26,197 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $9.58, for a total transaction of $250,967.26. Following the transaction, the chief accounting officer now directly owns 28,788 shares in the company, valued at $275,789.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Liberty Latin America

A number of large investors have recently made changes to their positions in the business. ProShare Advisors LLC grew its position in shares of Liberty Latin America by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 24,721 shares of the company’s stock worth $173,000 after buying an additional 1,944 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in shares of Liberty Latin America by 29.9% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 13,691 shares of the company’s stock worth $132,000 after buying an additional 3,150 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Liberty Latin America by 6.7% in the 2nd quarter. Principal Financial Group Inc. now owns 66,269 shares of the company’s stock valued at $638,000 after purchasing an additional 4,180 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Liberty Latin America by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 110,116 shares of the company’s stock valued at $770,000 after purchasing an additional 4,487 shares during the period. Finally, nVerses Capital LLC purchased a new position in shares of Liberty Latin America in the 3rd quarter valued at approximately $55,000. 52.98% of the stock is currently owned by institutional investors.

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.