Federated Hermes Inc. Cuts Stake in Liberty Latin America Ltd. (NASDAQ:LILAK)

Federated Hermes Inc. reduced its holdings in shares of Liberty Latin America Ltd. (NASDAQ:LILAK) by 31.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,272 shares of the company’s stock after selling 1,506 shares during the quarter. Federated Hermes Inc.’s holdings in Liberty Latin America were worth $31,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in LILAK. Principal Financial Group Inc. grew its holdings in shares of Liberty Latin America by 18.2% in the fourth quarter. Principal Financial Group Inc. now owns 75,752 shares of the company’s stock worth $556,000 after acquiring an additional 11,663 shares during the period. Norges Bank bought a new stake in shares of Liberty Latin America during the 4th quarter valued at $8,712,000. Trexquant Investment LP grew its holdings in Liberty Latin America by 97.5% during the fourth quarter. Trexquant Investment LP now owns 68,974 shares of the company’s stock valued at $506,000 after purchasing an additional 34,047 shares during the period. Allianz Asset Management GmbH increased its position in Liberty Latin America by 117.2% in the fourth quarter. Allianz Asset Management GmbH now owns 188,225 shares of the company’s stock worth $1,382,000 after buying an additional 101,576 shares in the last quarter. Finally, TFO Wealth Partners LLC lifted its position in shares of Liberty Latin America by 26,514.3% during the 4th quarter. TFO Wealth Partners LLC now owns 13,041 shares of the company’s stock valued at $96,000 after buying an additional 12,992 shares in the last quarter. Hedge funds and other institutional investors own 52.98% of the company’s stock.

Insider Transactions at Liberty Latin America

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LILAK shares. StockNews.com cut Liberty Latin America from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. The Goldman Sachs Group reissued a “neutral” rating and set a $10.50 price target (up from $9.30) on shares of Liberty Latin America in a research note on Wednesday, September 4th. Finally, Pivotal Research reduced their price target on shares of 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.

Liberty Latin America Price Performance

Liberty Latin America stock opened at $9.38 on Thursday. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -312.56 and a beta of 1.14. The firm has a 50-day moving average of $9.66 and a two-hundred day moving average of $8.68. Liberty Latin America Ltd. has a 1 year low of $5.95 and a 1 year high of $10.93.

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

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.