Liberty Latin America Ltd. (NASDAQ:LILAK) is Searchlight Capital Partners L.P.’s 2nd Largest Position

Searchlight Capital Partners L.P. decreased its position in Liberty Latin America Ltd. (NASDAQ:LILAK) by 13.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 12,309,967 shares of the company’s stock after selling 1,977,970 shares during the period. Liberty Latin America comprises about 38.8% of Searchlight Capital Partners L.P.’s investment portfolio, making the stock its 2nd biggest holding. Searchlight Capital Partners L.P. owned 0.06% of Liberty Latin America worth $118,422,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LILAK. The Manufacturers Life Insurance Company grew its stake in Liberty Latin America by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 71,204 shares of the company’s stock valued at $685,000 after acquiring an additional 6,387 shares in the last quarter. Millennium Management LLC grew its position in Liberty Latin America by 305.1% during 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 in the last quarter. AQR Capital Management LLC increased its stake in Liberty Latin America by 77.9% in the 2nd quarter. AQR Capital Management LLC now owns 243,788 shares of the company’s stock valued at $2,345,000 after buying an additional 106,721 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Liberty Latin America in the 2nd quarter worth approximately $1,894,000. Finally, XTX Topco Ltd acquired a new stake in shares of Liberty Latin America during the 2nd quarter valued at $593,000. 52.98% of the stock is currently owned by hedge funds and other institutional investors.

Liberty Latin America Stock Up 2.5 %

Shares of LILAK opened at $9.61 on Friday. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -320.33 and a beta of 1.14. The company’s fifty day moving average is $9.65 and its 200-day moving average is $8.68. Liberty Latin America Ltd. has a 12 month low of $5.95 and a 12 month high of $10.93.

Liberty Latin America (NASDAQ:LILAK) last posted its earnings results on Tuesday, August 6th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The business had revenue of $1.12 billion during the quarter.

Insider Activity

In related news, CAO Brian D. Zook sold 26,197 shares of Liberty Latin America stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $9.58, for a total value of $250,967.26. Following the transaction, the chief accounting officer now owns 28,788 shares in the company, valued at approximately $275,789.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Dustin Henderson sold 5,906 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $10.00, for a total value of $59,060.00. Following the completion of the sale, the insider now directly owns 1,600 shares of the company’s stock, valued at $16,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Brian D. Zook sold 26,197 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $9.58, for a total transaction of $250,967.26. Following the completion of the sale, the chief accounting officer now owns 28,788 shares in the company, valued at approximately $275,789.04. The disclosure for this sale can be found here. 9.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LILAK has been the topic of a number of research reports. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $10.50 price target (up from $9.30) on shares of Liberty Latin America in a research note on Wednesday, September 4th. Pivotal Research dropped their target price 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. Finally, StockNews.com downgraded Liberty Latin America from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th.

About Liberty Latin America

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.