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

Rubric Capital Management LP grew its holdings in shares of Liberty Latin America Ltd. (NASDAQ:LILA) by 93.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,750,000 shares of the company’s stock after acquiring an additional 1,806,935 shares during the period. Rubric Capital Management LP owned 1.86% of Liberty Latin America worth $32,400,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other news, SVP John M. Winter bought 5,071 shares of the stock in a transaction dated Friday, June 26th. The stock was bought at an average price of $19.67 per share, for a total transaction of $99,746.57. Following the completion of the acquisition, the senior vice president directly owned 64,547 shares in the company, valued at approximately $1,269,639.49. This trade represents a 8.53% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Balan Nair purchased 164,914 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were purchased at an average cost of $6.07 per share, for a total transaction of $1,001,027.98. Following the completion of the transaction, the chief executive officer directly owned 3,276,798 shares of the company’s stock, valued at $19,890,163.86. This represents a 5.30% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 14,820,228 shares of company stock valued at $121,249,631 in the last 90 days. Insiders own 6.25% of the company’s stock.

Liberty Latin America Price Performance

LILA stock opened at $7.79 on Tuesday. The company has a debt-to-equity ratio of 7.74, a quick ratio of 1.11 and a current ratio of 1.11. The business has a 50-day simple moving average of $7.38 and a two-hundred day simple moving average of $7.71. The company has a market capitalization of $1.57 billion, a P/E ratio of -3.14 and a beta of 0.74. Liberty Latin America Ltd. has a 52-week low of $4.77 and a 52-week high of $9.04.

Liberty Latin America (NASDAQ:LILA) last posted its earnings results on Thursday, May 7th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.09 billion. Research analysts expect that Liberty Latin America Ltd. will post -0.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Liberty Latin America in a report on Friday, July 17th. Morgan Stanley set a $7.00 target price on shares of Liberty Latin America in a research report on Friday, June 26th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.00.

About Liberty Latin America

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.