Rubric Capital Management LP Acquires 1,806,935 Shares of Liberty Latin America Ltd. $LILA

Rubric Capital Management LP lifted its holdings in shares of Liberty Latin America Ltd. (NASDAQ:LILA) by 93.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,750,000 shares of the company’s stock after acquiring an additional 1,806,935 shares during the quarter. Rubric Capital Management LP’s holdings in Liberty Latin America were worth $32,400,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Strs Ohio bought a new stake in Liberty Latin America during the first quarter worth $34,000. Russell Investments Group Ltd. grew its stake in Liberty Latin America by 58.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 5,593 shares of the company’s stock valued at $46,000 after purchasing an additional 2,070 shares during the period. Danske Bank A S purchased a new stake in shares of Liberty Latin America during the 3rd quarter valued at $56,000. Quantbot Technologies LP increased its position in shares of Liberty Latin America by 727.1% during the 3rd quarter. Quantbot Technologies LP now owns 7,154 shares of the company’s stock valued at $59,000 after purchasing an additional 6,289 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of Liberty Latin America during the 1st quarter worth $77,000. 18.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Morgan Stanley set a $7.00 price target on shares of Liberty Latin America in a report on Friday, June 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Liberty Latin America in a research report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.00.

Liberty Latin America Price Performance

Shares of NASDAQ LILA opened at $7.79 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 7.74. The stock has a fifty day simple moving average of $7.38 and a two-hundred day simple moving average of $7.71. Liberty Latin America Ltd. has a 1-year low of $4.77 and a 1-year high of $9.04. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -3.14 and a beta of 0.74.

Liberty Latin America (NASDAQ:LILA) last issued its earnings results on Thursday, May 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.14). Liberty Latin America had a negative net margin of 11.20% and a negative return on equity of 45.66%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.09 billion. Analysts anticipate that Liberty Latin America Ltd. will post -0.22 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Charles H. R. Bracken acquired 4,900 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was bought at an average price of $20.50 per share, with a total value of $100,450.00. Following the acquisition, the director owned 18,867 shares in the company, valued at $386,773.50. The trade was a 35.08% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Balan Nair acquired 164,914 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was purchased at an average price of $6.07 per share, for a total transaction of $1,001,027.98. Following the completion of the purchase, the chief executive officer directly owned 3,276,798 shares in the company, valued at $19,890,163.86. This trade represents a 5.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 14,820,228 shares of company stock worth $121,249,631 in the last quarter. 6.25% of the stock is currently owned by company insiders.

Liberty Latin America Company Profile

Liberty Latin America is a telecommunications company that provides video, broadband internet, telephony and mobile services across Latin America and the Caribbean. The company’s operations span consumer and business markets, offering cable television packages, high-speed broadband connections, fixed-line voice services and wireless data plans. Through its brands, including Flow in several Caribbean territories and VTR in Chile, Liberty Latin America focuses on delivering converged digital solutions designed to meet both residential and enterprise needs.

Formed in 2018 as a spin-off from Liberty Global, Liberty Latin America built its initial footprint by integrating legacy assets acquired from Cable & Wireless Communications and Columbus Communications.