Genesis Investment Management LLP Sells 855,000 Shares of Liberty Latin America Ltd. (NASDAQ:LILAK)

Posted by Defense World Staff on Apr 2nd, 2023

Genesis Investment Management LLP lessened its stake in Liberty Latin America Ltd. (NASDAQ:LILAK – Get Rating) by 10.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,112,369 shares of the company’s stock after selling 855,000 shares during the quarter. Liberty Latin America comprises approximately 6.0% of Genesis Investment Management LLP’s holdings, making the stock its 7th biggest holding. Genesis Investment Management LLP owned approximately 3.27% of Liberty Latin America worth $54,054,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC raised its stake in shares of Liberty Latin America by 71.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 3,640 shares of the company’s stock valued at $28,000 after acquiring an additional 1,515 shares during the period. Captrust Financial Advisors raised its stake in shares of Liberty Latin America by 94.8% in the 1st quarter. Captrust Financial Advisors now owns 4,388 shares of the company’s stock valued at $42,000 after acquiring an additional 2,135 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Liberty Latin America during the 2nd quarter worth $58,000. Bank of Montreal Can acquired a new position in Liberty Latin America in the 1st quarter worth $71,000. Finally, Point72 Hong Kong Ltd acquired a new position in Liberty Latin America in the 1st quarter worth $80,000. Institutional investors and hedge funds own 56.96% of the company’s stock.

Insider Activity

In related news, Director Eric Louis Zinterhofer purchased 75,000 shares of the company’s stock in a transaction dated Thursday, March 16th. The shares were acquired at an average cost of $7.82 per share, for a total transaction of $586,500.00. Following the transaction, the director now owns 12,143,289 shares of the company’s stock, valued at $94,960,519.98. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 9.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LILAK. StockNews.com began coverage on shares of Liberty Latin America in a report on Thursday, March 16th. They issued a “hold” rating on the stock. TheStreet upgraded shares of Liberty Latin America from a “d” rating to a “c-” rating in a report on Wednesday, March 1st.

Liberty Latin America Price Performance

Shares of LILAK stock opened at $8.26 on Friday. Liberty Latin America Ltd. has a 12 month low of $5.88 and a 12 month high of $11.32. The firm has a market capitalization of $1.78 billion, a P/E ratio of -10.73 and a beta of 1.33. The company’s fifty day moving average price is $8.81 and its two-hundred day moving average price is $7.98.

Liberty Latin America (NASDAQ:LILAK – Get Rating) last issued its quarterly earnings data on Wednesday, February 22nd. The company reported $0.59 EPS for the quarter. The firm had revenue of $1.16 billion during the quarter.

Liberty Latin America Profile

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Liberty Latin America Ltd. is a holding company, which engages in the provision of fixed, mobile, and subsea telecommunications services. It operates through the following segments: C and W Carribean, C and W Panama, Cand W Networks and LatAm, Liberty Puerto Rico, Liberty Costa Rica, and VTR. The company was founded in 2010 and is headquartered in Denver, CO.