Principal Financial Group Inc. Sells 2,498 Shares of Liberty Latin America Ltd. (NASDAQ:LILAK)

Principal Financial Group Inc. lowered its stake in shares of Liberty Latin America Ltd. (NASDAQ:LILAK) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,771 shares of the company’s stock after selling 2,498 shares during the period. Principal Financial Group Inc.’s holdings in Liberty Latin America were worth $605,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Liberty Latin America by 6.4% during the first quarter. Vanguard Group Inc. now owns 3,271,414 shares of the company’s stock worth $22,867,000 after purchasing an additional 197,988 shares during the period. Genesis Investment Management LLP grew its stake in Liberty Latin America by 39.4% in the 2nd quarter. Genesis Investment Management LLP now owns 2,609,237 shares of the company’s stock valued at $25,101,000 after buying an additional 737,883 shares in the last quarter. Banco Santander S.A. bought a new stake in Liberty Latin America during the 2nd quarter valued at $13,188,000. Millennium Management LLC raised its holdings in Liberty Latin America by 305.1% during the 2nd quarter. Millennium Management LLC now owns 986,782 shares of the company’s stock valued at $9,493,000 after acquiring an additional 743,197 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Liberty Latin America by 8.8% during the second quarter. Bank of New York Mellon Corp now owns 583,018 shares of the company’s stock worth $5,609,000 after acquiring an additional 46,919 shares in the last quarter. Institutional investors own 52.98% of the company’s stock.

Liberty Latin America Trading Up 1.0 %

Shares of LILAK opened at $7.04 on Friday. Liberty Latin America Ltd. has a 12-month low of $5.95 and a 12-month high of $10.93. The company has a market cap of $1.38 billion, a PE ratio of -2.40 and a beta of 1.12. The stock has a 50-day moving average price of $9.00 and a 200-day moving average price of $9.17.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LILAK shares. Pivotal Research dropped their price objective on Liberty Latin America from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, August 12th. The Goldman Sachs Group reissued a “neutral” rating and issued a $10.50 price target (up from $9.30) on shares of Liberty Latin America in a report on Wednesday, September 4th. Scotiabank reduced their price objective on shares of 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. Finally, StockNews.com cut shares of Liberty Latin America from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th.

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.