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

Liberty Latin America Ltd. (NASDAQ:LILAK) gapped down prior to trading 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.

Wall Street Analyst Weigh In

LILAK has been the subject of several recent research reports. Scotiabank reduced 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. StockNews.com cut shares of Liberty Latin America from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th. The Goldman Sachs Group reissued a “neutral” rating and issued a $10.50 target price (up from $9.30) on shares of Liberty Latin America in a research note on Wednesday, September 4th. Finally, Pivotal Research dropped their price target on 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.

Liberty Latin America Stock Performance

The business’s 50 day simple moving average is $9.50 and its 200 day simple moving average is $9.23.

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

Insider Activity

In other Liberty Latin America news, CAO Brian D. Zook sold 26,197 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $9.58, for a total transaction of $250,967.26. Following the completion of the transaction, the chief accounting officer now owns 28,788 shares of the company’s stock, valued at $275,789.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 9.66% of the company’s stock.

Institutional Investors Weigh In On Liberty Latin America

A number of hedge funds have recently added to or reduced their stakes in the business. Intech Investment Management LLC purchased a new stake in shares of Liberty Latin America during the third quarter worth approximately $250,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Liberty Latin America in the 3rd quarter valued at $1,041,000. Empowered Funds LLC lifted its position in shares of Liberty Latin America by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 891,148 shares of the company’s stock worth $8,457,000 after purchasing an additional 45,426 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Liberty Latin America during the third quarter worth $267,000. Finally, nVerses Capital LLC purchased a new position in Liberty Latin America in the third quarter valued at $55,000. 52.98% of the stock is currently owned by institutional investors and hedge funds.

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.