Short Interest in Liberty Latin America Ltd. (NASDAQ:LILAK) Declines By 22.8%

Liberty Latin America Ltd. (NASDAQ:LILAK) was the target of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 3,010,000 shares, a decrease of 22.8% from the October 31st total of 3,900,000 shares. Approximately 2.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 727,600 shares, the days-to-cover ratio is currently 4.1 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LILAK shares. The Goldman Sachs Group restated a “neutral” rating and set a $10.50 price target (up previously from $9.30) on shares of Liberty Latin America in a report on Wednesday, September 4th. StockNews.com lowered Liberty Latin America from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. Scotiabank decreased their target price on Liberty Latin America from $9.40 to $8.30 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Finally, Pivotal Research dropped their price target on Liberty Latin America from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, August 12th.

Liberty Latin America Price Performance

NASDAQ:LILAK traded down $0.10 during trading hours on Friday, reaching $6.91. The company’s stock had a trading volume of 640,371 shares, compared to its average volume of 938,384. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -2.36 and a beta of 1.12. Liberty Latin America has a one year low of $5.95 and a one year high of $10.93. The business’s 50-day moving average is $8.74 and its 200-day moving average is $9.13.

Insider Activity

In related news, Director Brendan J. Paddick purchased 5,053 shares of the company’s stock in a transaction on Friday, November 29th. The shares were bought at an average price of $6.93 per share, with a total value of $35,017.29. Following the completion of the acquisition, the director now owns 1,343,021 shares of the company’s stock, valued at approximately $9,307,135.53. This represents a 0.38 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 9.66% of the company’s stock.

Institutional Trading of Liberty Latin America

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC raised its stake in shares of Liberty Latin America by 69.2% in the 3rd quarter. FMR LLC now owns 15,600,000 shares of the company’s stock valued at $148,044,000 after acquiring an additional 6,379,203 shares in the last quarter. Banco Santander S.A. bought a new position in shares of Liberty Latin America in the second quarter valued at approximately $13,188,000. Millennium Management LLC raised its position 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 period. Genesis Investment Management LLP lifted its stake in shares of Liberty Latin America by 39.4% in the second quarter. Genesis Investment Management LLP now owns 2,609,237 shares of the company’s stock worth $25,101,000 after buying an additional 737,883 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Liberty Latin America by 24.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,060,558 shares of the company’s stock worth $29,045,000 after buying an additional 600,689 shares during the period. Institutional investors and hedge funds own 52.98% of the company’s stock.

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.