DENVER—Brendan J. Paddick, a director at Liberty Latin America Ltd. (NASDAQ:LILA), has acquired Class A common shares worth approximately $308,433, according to a recent filing with the Securities and Exchange Commission. This insider purchase comes as the stock trades near its 52-week low of $5.90, with InvestingPro data showing the company’s impressive 77.7% gross profit margins. The transactions, which took place on December 19 and December 23, involved the purchase of 31,989 shares at a weighted average price of $6.1967 and 18,011 shares at a weighted average price of $6.1189, respectively. These purchases bring Paddick’s total holdings to 1,437,518 shares. Liberty Latin America, headquartered in Denver, operates in the cable and other pay television services industry, with a market capitalization of $1.2 billion. InvestingPro analysis indicates the stock is currently undervalued, with 10+ additional investment insights available to subscribers.
In other recent news, Liberty Latin America reported a challenging yet promising third quarter. The telecommunications giant added over 50,000 high-speed broadband and postpaid mobile subscribers, excluding Puerto Rico, and posted an adjusted OIBDA of $1.2 billion. Despite a significant decline in Liberty Puerto Rico’s revenue due to Hurricane Beryl, the company signaled optimism through its growth in Peru and the Caribbean. The company also successfully refinanced $1 billion in senior notes, extending debt maturity.
Additionally, Liberty Latin America reported a 3% decline in Q3 revenue to $1.1 billion, while adjusted OIBDA grew by 4% to $403 million. The company’s management remains focused on cost reductions and growth investments, particularly in the B2B sector. These recent developments indicate the company’s resilience in the face of natural disasters and market challenges. Despite slower recovery in Puerto Rico, Liberty Latin America’s diversified operations and strong performance in other segments provide a balanced outlook for investors. The company’s strategic investments in growth areas such as Peru and the Caribbean, coupled with its focus on enhancing customer experience, suggest promising future prospects.
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