JPMorgan Chase & Co. Trims Stock Position in Liberty Latin America Ltd. (NASDAQ:LILAK)

JPMorgan Chase & Co. trimmed its stake in Liberty Latin America Ltd. (NASDAQ:LILAK) by 78.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,836,965 shares of the company’s stock after selling 10,455,446 shares during the period. JPMorgan Chase & Co.’s holdings in Liberty Latin America were worth $26,938,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in Liberty Latin America by 6.7% during the second quarter. Principal Financial Group Inc. now owns 66,269 shares of the company’s stock valued at $638,000 after buying an additional 4,180 shares during the period. nVerses Capital LLC purchased a new position in Liberty Latin America during the 3rd quarter valued at about $55,000. The Manufacturers Life Insurance Company boosted its stake in Liberty Latin America by 9.9% during the second quarter. The Manufacturers Life Insurance Company now owns 71,204 shares of the company’s stock worth $685,000 after acquiring an additional 6,387 shares in the last quarter. Franklin Resources Inc. grew its holdings in Liberty Latin America by 10.2% in the third quarter. Franklin Resources Inc. now owns 91,461 shares of the company’s stock worth $868,000 after purchasing an additional 8,454 shares during the period. Finally, State Street Corp increased its stake in shares of Liberty Latin America by 0.4% during the third quarter. State Street Corp now owns 3,290,866 shares of the company’s stock valued at $31,230,000 after purchasing an additional 11,510 shares in the last quarter. Institutional investors own 52.98% of the company’s stock.

Insider Buying and Selling at Liberty Latin America

In related news, Director Brendan J. Paddick purchased 35,475 shares of Liberty Latin America stock in a transaction dated Tuesday, November 26th. The stock was purchased at an average cost of $7.04 per share, for a total transaction of $249,744.00. Following the completion of the purchase, the director now directly owns 1,273,443 shares of the company’s stock, valued at $8,965,038.72. The trade was a 2.87 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have acquired 156,298 shares of company stock worth $1,043,886. Insiders own 9.66% of the company’s stock.

Liberty Latin America Trading Down 0.6 %

NASDAQ:LILAK opened at $6.67 on Wednesday. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -2.28 and a beta of 1.04. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 4.31. The company’s 50 day moving average price is $7.10 and its 200-day moving average price is $8.73. Liberty Latin America Ltd. has a 52 week low of $5.95 and a 52 week high of $10.93.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LILAK. The Goldman Sachs Group dropped their price target on Liberty Latin America from $10.50 to $7.50 and set a “neutral” rating on the stock in a research report on Wednesday, December 4th. Scotiabank cut their target price on Liberty Latin America from $9.40 to $8.30 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th.

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.