Zacks Investment Research Downgrades Liberty Latin America (LILA) to Hold

Liberty Latin America (NASDAQ:LILA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

According to Zacks, “Liberty Latin America is a telecommunication company. Its business products and services include enterprise-grade connectivity, data center, hosting and managed solutions, as well as information technology solutions. It operates primarily in Chile, Puerto Rico, the Caribbean and other parts of Latin America. Liberty Latin America, formerly known as Liberty LiLAC, is based in DENVER. “

Other research analysts also recently issued research reports about the stock. Buckingham Research lowered their price objective on shares of Liberty Latin America from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. ValuEngine upgraded shares of Liberty Latin America from a “sell” rating to a “hold” rating in a report on Monday, September 17th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Liberty Latin America has an average rating of “Hold” and an average target price of $24.25.

Shares of NASDAQ LILA opened at $16.98 on Friday. Liberty Latin America has a 12-month low of $16.72 and a 12-month high of $24.00. The firm has a market cap of $3.18 billion, a P/E ratio of -41.41 and a beta of 1.62.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arnhold LLC purchased a new stake in shares of Liberty Latin America in the third quarter valued at about $123,000. Conning Inc. purchased a new stake in shares of Liberty Latin America in the third quarter valued at about $469,000. Barings LLC purchased a new stake in shares of Liberty Latin America in the third quarter valued at about $5,087,000. Russell Investments Group Ltd. purchased a new stake in shares of Liberty Latin America in the third quarter valued at about $19,780,000. Finally, River Road Asset Management LLC purchased a new stake in shares of Liberty Latin America in the third quarter valued at about $7,165,000. Hedge funds and other institutional investors own 22.04% of the company’s stock.

Liberty Latin America Company Profile

Liberty Latin America Ltd. provides various telecommunications services. Its services primarily include video, broadband Internet, fixed-line telephony, and mobile services. The company offers communications and entertainment 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.

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