Genesis Investment Management LLP Trims Stock Position in Liberty Latin America Ltd. (NASDAQ:LILAK)

Genesis Investment Management LLP decreased its stake in Liberty Latin America Ltd. (NASDAQ:LILAK) by 76.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 564,420 shares of the company’s stock after selling 1,865,731 shares during the period. Liberty Latin America accounts for 3.9% of Genesis Investment Management LLP’s investment portfolio, making the stock its 11th largest holding. Genesis Investment Management LLP owned about 0.29% of Liberty Latin America worth $3,578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. American Century Companies Inc. increased its position in Liberty Latin America by 11.6% during the second quarter. American Century Companies Inc. now owns 217,427 shares of the company’s stock worth $2,092,000 after buying an additional 22,580 shares during the period. XTX Topco Ltd acquired a new position in shares of Liberty Latin America in the 2nd quarter valued at $593,000. Canada Pension Plan Investment Board purchased a new stake in Liberty Latin America in the 2nd quarter valued at $1,894,000. AQR Capital Management LLC boosted its stake in Liberty Latin America by 77.9% during the 2nd quarter. AQR Capital Management LLC now owns 243,788 shares of the company’s stock worth $2,345,000 after purchasing an additional 106,721 shares during the period. Finally, Millennium Management LLC grew its position in Liberty Latin America by 305.1% during the 2nd quarter. Millennium Management LLC now owns 986,782 shares of the company’s stock worth $9,493,000 after purchasing an additional 743,197 shares during the last quarter. 52.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity at Liberty Latin America

In related news, Director Brendan J. Paddick bought 5,053 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were bought at an average cost of $6.93 per share, for a total transaction of $35,017.29. Following the transaction, the director now owns 1,343,021 shares of the company’s stock, valued at approximately $9,307,135.53. This trade represents a 0.38 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders bought a total of 156,298 shares of company stock worth $1,043,886 over the last 90 days. Company insiders own 9.66% of the company’s stock.

Liberty Latin America Trading Up 1.2 %

LILAK stock opened at $6.66 on Tuesday. Liberty Latin America Ltd. has a one year low of $5.95 and a one year high of $10.93. The company has a debt-to-equity ratio of 4.31, a quick ratio of 1.06 and a current ratio of 1.06. The company has a fifty day moving average of $6.64 and a 200-day moving average of $8.55.

Liberty Latin America 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.