Liberty Latin America Ltd. (LILA) Q2 2024 Earnings Call Transcript
Liberty Latin America Ltd. (NASDAQ:LILA ) Q2 2024 Earnings Conference Call August 7, 2024 8:30 AM ET Company Participants Danilo Fernandes - Senior Director of Corporate Business, C&W, Panama.
Panagora Asset Management Inc. Raises Stock Position in Liberty Latin America Ltd. (NASDAQ:LILA)
Panagora Asset Management Inc. boosted its stake in Liberty Latin America Ltd. (NASDAQ:LILA – Free Report) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 438,094 shares of the company’s stock after purchasing an additional 15,416 shares during the period. Panagora Asset Management Inc. owned approximately 0.21% of Liberty Latin America worth $3,202,000 at the end of the most recent reporting period. A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Barclays PLC increased its stake in Liberty Latin America by 55.9% during the 3rd quarter. Barclays PLC now owns 34,048 shares of the company’s stock worth $277,000 after buying an additional 12,203 shares during the period. Wittenberg Investment Management Inc. boosted its holdings in Liberty Latin America by 18.6% in the third quarter. Wittenberg Investment Management Inc. now owns 748,648 shares of the company’s stock worth $6,109,000 after purchasing an additional 117,300 shares during the period. Teza Capital Management LLC acquired a new stake in shares of Liberty Latin America during the third quarter worth $124,000. Gamco Investors INC. ET AL lifted its position in shares of Liberty Latin America by 1.5% in the 3rd quarter. Gamco Investors INC. ET AL now owns 343,950 shares of the company’s stock worth $2,807,000 after buying an additional 5,248 shares during the last quarter. Finally, Diversified Trust Co grew its position in shares of Liberty Latin America by 9.5% during the 4th quarter. Diversified Trust Co now owns 21,538 shares of the company’s stock valued at $157,000 after buying an additional 1,867 shares during the last quarter. Institutional investors and hedge funds own 18.48% of the company’s stock. Insider Activity In other news, major shareholder John C. Malone bought 35,780 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were purchased at an average cost of $6.43 per share, with a total value of $230,065.40. Following the completion of the acquisition, the insider now directly owns 7,402,498 shares in the company, valued at $47,598,062.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Brian D. Zook sold 27,711 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $6.76, for a total value of $187,326.36. Following the completion of the transaction, the chief accounting officer now owns 34,798 shares in the company, valued at approximately $235,234.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder John C. Malone purchased 35,780 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was bought at an average cost of $6.43 per share, for a total transaction of $230,065.40. Following the purchase, the insider now directly owns 7,402,498 shares in the company, valued at approximately $47,598,062.14. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 1,220,056 shares of company stock worth $8,247,512. 11.35% of the stock is owned by company insiders. Liberty Latin America Price Performance Shares of NASDAQ LILA opened at $8.75 on Monday. Liberty Latin America Ltd. has a 12-month low of $5.90 and a 12-month high of $9.85. The stock has a 50 day simple moving average of $7.39 and a 200-day simple moving average of $7.06. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 3.33. Liberty Latin America (NASDAQ:LILA – Get Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.16). Liberty Latin America had a negative return on equity of 0.23% and a negative net margin of 0.12%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the company earned ($0.23) EPS. On average, equities analysts expect that Liberty Latin America Ltd. will post -0.64 earnings per share for the current year. Analysts Set New Price Targets Separately, Barclays cut their price target on Liberty Latin America from $9.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 7th. View Our Latest Stock Analysis on LILA About Liberty Latin America (Free Report) 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.
