Liberty Latin America Ltd. (NASDAQ:LILAK - Get Free Report) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 3,010,000 shares, a drop of 22.8% from the October 31st total of 3,900,000 shares. Based on an average daily trading volume, of 727,600 shares, the days-to-cover ratio is presently 4.1 days. Currently, 2.4% of the shares of the company are short sold.
Insiders Place Their Bets
In related news, Director Brendan J. Paddick bought 35,475 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were acquired at an average cost of $7.04 per share, with a total value of $249,744.00. Following the completion of the purchase, the director now directly owns 1,273,443 shares of the company's stock, valued at $8,965,038.72. This trade represents a 2.87 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 9.66% of the company's stock.
Hedge Funds Weigh In On Liberty Latin America
Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC increased its stake in Liberty Latin America by 69.2% during the 3rd quarter. FMR LLC now owns 15,600,000 shares of the company's stock valued at $148,044,000 after purchasing an additional 6,379,203 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Liberty Latin America by 1.2% during the third quarter. Geode Capital Management LLC now owns 3,378,992 shares of the company's stock worth $32,073,000 after purchasing an additional 39,711 shares during the period. State Street Corp increased its holdings in Liberty Latin America by 0.4% in the 3rd 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 during the period. Vanguard Group Inc. raised its position in Liberty Latin America by 6.4% during the 1st quarter. Vanguard Group Inc. now owns 3,271,414 shares of the company's stock worth $22,867,000 after buying 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 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,060,558 shares of the company's stock valued at $29,045,000 after acquiring an additional 600,689 shares during the period. 52.98% of the stock is currently owned by institutional investors.
Liberty Latin America Price Performance
Shares of NASDAQ:LILAK traded down $0.10 during trading hours on Friday, hitting $6.91. 640,371 shares of the company's stock traded hands, compared to its average volume of 1,001,149. The business has a fifty day moving average price of $8.74 and a 200-day moving average price of $9.12. The firm has a market capitalization of $1.36 billion, a P/E ratio of -2.36 and a beta of 1.12. Liberty Latin America has a 1 year low of $5.95 and a 1 year high of $10.93.
Analyst Ratings Changes
LILAK has been the topic of a number of research reports. Pivotal Research dropped their target price on shares of Liberty Latin America from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, August 12th. StockNews.com lowered Liberty Latin America from a "buy" rating to a "hold" rating in a research report on Thursday, August 15th. Scotiabank cut their price objective on shares of Liberty Latin America from $9.40 to $8.30 and set a "sector outperform" rating on the stock in a research report on Friday, November 8th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $10.50 target price (up previously from $9.30) on shares of Liberty Latin America in a research note on Wednesday, September 4th.
Get Our Latest Analysis on LILAK
About Liberty Latin America
(
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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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