Liberty Latin America Ltd. (NASDAQ:LILAK) Sees Large Increase in Short Interest

Liberty Latin America Ltd. (NASDAQ:LILAK) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 3,500,000 shares, a growth of 9.7% from the September 30th total of 3,190,000 shares. Currently, 2.8% of the company’s shares are sold short. Based on an average trading volume of 779,200 shares, the days-to-cover ratio is presently 4.5 days.

Liberty Latin America Trading Down 0.6 %

NASDAQ:LILAK opened at $9.68 on Friday. Liberty Latin America has a 1 year low of $5.95 and a 1 year high of $10.93. The stock has a 50-day moving average price of $9.52 and a two-hundred day moving average price of $9.15. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -323.00 and a beta of 1.13.

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

Insider Activity

In other news, CAO Brian D. Zook sold 26,197 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $9.58, for a total value of $250,967.26. Following the transaction, the chief accounting officer now owns 28,788 shares of the company’s stock, valued at approximately $275,789.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Liberty Latin America

Several large investors have recently made changes to their positions in the stock. DAVENPORT & Co LLC boosted its position in shares of Liberty Latin America by 8.9% during the first quarter. DAVENPORT & Co LLC now owns 3,559,940 shares of the company’s stock worth $24,884,000 after buying an additional 291,155 shares during the period. Vanguard Group Inc. boosted 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 acquiring an additional 197,988 shares during the last quarter. Genesis Investment Management LLP grew its stake in shares of Liberty Latin America by 39.4% during the 2nd quarter. Genesis Investment Management LLP now owns 2,609,237 shares of the company’s stock worth $25,101,000 after acquiring an additional 737,883 shares in the last quarter. Banco Santander S.A. acquired a new stake in shares of Liberty Latin America in the second quarter valued at approximately $13,188,000. Finally, Millennium Management LLC raised its holdings in shares of Liberty Latin America by 305.1% in the second quarter. Millennium Management LLC now owns 986,782 shares of the company’s stock valued at $9,493,000 after purchasing an additional 743,197 shares during the last quarter. Institutional investors own 52.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. StockNews.com lowered Liberty Latin America from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Pivotal Research decreased their target price 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. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $10.50 price target (up from $9.30) on shares of Liberty Latin America in a research report on Wednesday, September 4th.

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.