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Brendan J. Paddick, a director at Liberty Latin America Ltd. (NASDAQ:LILA), recently increased his stake in the company through a series of stock purchases. According to the latest SEC filing, Paddick acquired a total of 105,053 Class A Common Shares over three days between November 26 and November 29, 2024. This insider purchase aligns with broader management activity, as InvestingPro data shows management has been actively buying back shares.
The purchases were made at a weighted average price ranging from $6.9334 to $7.1475 per share, amounting to a total investment of approximately $746,130. Following these transactions, Paddick's direct ownership stands at 1,343,021 shares. According to InvestingPro analysis, the stock appears slightly undervalued compared to its Fair Value, with impressive gross profit margins of 77.7%.
Liberty Latin America, headquartered in Denver, operates in the cable and pay television services sector. The company's trading symbols include LILA, LILAB, and LILAK. With revenue of $4.47 billion in the last twelve months and an EBITDA of $1.53 billion, the company maintains a strong market presence despite recent stock price weakness. Discover more detailed insights and 7 additional ProTips for LILA through a comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Liberty Latin America reported a combination of challenges and growth in its third-quarter earnings. The telecommunications company added over 50,000 high-speed broadband and postpaid mobile subscribers this year, excluding Puerto Rico, and reported an adjusted OIBDA of $1.2 billion. Despite the impact of Hurricane Beryl and a significant revenue drop in Liberty Puerto Rico, the company remains hopeful about its future performance, underlining its expansion in Peru and the Caribbean.
The company's Q3 reported revenue declined by 3% to $1.1 billion, while adjusted OIBDA grew by 4% to $403 million. The company also refinanced $1 billion in senior notes, extending its debt maturity. Revenue growth was noted in C&W Caribbean, C&W Panama, and Liberty Costa Rica segments.
These recent developments have been influenced by several factors. The company's revenue in Puerto Rico fell 13% year-over-year, with adjusted OIBDA decreasing by 24%. However, Liberty Latin America remains optimistic about recovery by 2025. In contrast, C&W Caribbean achieved 2% revenue growth this year, and Liberty Costa Rica surpassed 1 million postpaid subscribers, with 5% revenue growth.
Management is focused on cost reductions and growth investments, particularly in the B2B sector. They expect improved adjusted OIBDA in Q4, driven by subscriber growth and seasonal performance. The company is also optimistic about market opportunities in Peru, where it has achieved significant market penetration.
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