Short Interest in Liberty Latin America Ltd (NASDAQ:LILA) Grows By 16.6%

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Liberty Latin America Ltd (NASDAQ:LILA) saw a large increase in short interest in June. As of June 30th, there was short interest totalling 466,000 shares, an increase of 16.6% from the May 30th total of 399,800 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average trading volume of 258,700 shares, the days-to-cover ratio is currently 1.8 days.

Liberty Latin America stock traded up $0.15 during mid-day trading on Friday, hitting $17.05. 172,736 shares of the company’s stock traded hands, compared to its average volume of 214,974. The company has a 50 day moving average price of $17.61. The firm has a market cap of $3.07 billion, a P/E ratio of -8.57 and a beta of 1.83. Liberty Latin America has a one year low of $13.96 and a one year high of $22.20.

Liberty Latin America (NASDAQ:LILA) last announced its earnings results on Tuesday, May 7th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.28). The business had revenue of $942.70 million during the quarter. As a group, equities analysts forecast that Liberty Latin America will post -0.52 earnings per share for the current year.

In other news, insider Balan Nair bought 14,500 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was bought at an average price of $17.22 per share, for a total transaction of $249,690.00. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Christopher J. Noyes acquired 10,000 shares of Liberty Latin America stock in a transaction that occurred on Tuesday, May 14th. The shares were bought at an average price of $17.91 per share, with a total value of $179,100.00. The disclosure for this purchase can be found here. In the last quarter, insiders bought 53,500 shares of company stock valued at $937,010. Insiders own 13.82% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Ingalls & Snyder LLC lifted its position in shares of Liberty Latin America by 3.4% during the 2nd quarter. Ingalls & Snyder LLC now owns 695,497 shares of the company’s stock worth $11,983,000 after purchasing an additional 22,684 shares during the last quarter. Marshall Wace North America L.P. lifted its position in shares of Liberty Latin America by 49.7% during the 1st quarter. Marshall Wace North America L.P. now owns 89,599 shares of the company’s stock worth $1,732,000 after purchasing an additional 29,757 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Liberty Latin America during the 1st quarter worth about $350,000. GAM Holding AG acquired a new position in shares of Liberty Latin America during the 1st quarter worth about $687,000. Finally, JPMorgan Chase & Co. raised its holdings in Liberty Latin America by 88.9% in the 1st quarter. JPMorgan Chase & Co. now owns 831,175 shares of the company’s stock valued at $16,075,000 after acquiring an additional 391,060 shares in the last quarter. 18.26% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently issued reports on LILA shares. BidaskClub upgraded Zai Lab from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 28th. TheStreet upgraded Rent-A-Center from a “c” rating to a “b-” rating in a research report on Tuesday, May 7th. Zacks Investment Research lowered HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, Macquarie upgraded Liberty Latin America from a “neutral” rating to an “outperform” rating and set a $26.00 price objective for the company in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $25.67.

About Liberty Latin America

Liberty Latin America Ltd., together with its subsidiaries, provides fixed, mobile, and subsea telecommunications services. It offers communications and entertainment services, including video, broadband Internet, fixed-line telephony, and mobile 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.

See Also: Back-End Load

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