Liberty Latin America Ltd. (NASDAQ:LILA) Chief Accounting Officer Brian D. Zook has sold a significant portion of his holdings in the company, according to a recent regulatory filing. The transaction, which took place on March 21, 2024, involved the sale of Class A and Class C common shares totaling over $187,330.
Zook sold 9,159 Class A common shares at a weighted average price of $6.7566, with individual sale prices ranging from $6.7200 to $6.8300. Additionally, he disposed of 18,552 Class C common shares, fetching a weighted average price of $6.7619 per share, with sales prices varying between $6.7400 and $6.8200. Following these transactions, Zook's direct ownership in Class A and Class C common shares has been reduced to 34,798 and 71,675, respectively.
The sales represent a notable change in Zook's investment in Liberty Latin America, a company operating within the cable and other pay television services sector. The business address for both Zook and the issuer is located at 1550 Wewatta Street, Suite 1000, Denver, CO 80202.
Investors and followers of Liberty Latin America will likely take note of these transactions as they evaluate their own positions in the company's stock. The trading symbols for the issuer's classes of common shares are LILA, LILAB, and LILAK, as stated in the remarks of the filing.
InvestingPro Insights
Liberty Latin America Ltd. (NASDAQ:LILA) has been making headlines not only due to the recent sale of shares by its Chief Accounting Officer Brian D. Zook but also for its financial performance and market activity. InvestingPro data highlights several key metrics that may be of interest to investors considering the company's stock.
With a market capitalization of $2.51 billion, Liberty Latin America showcases a substantial presence in its sector. Despite a negative P/E ratio of -19.17, indicating investor concerns over profitability, the company's gross profit margin stands at a robust 77.38% for the last twelve months as of Q1 2023. This impressive margin is reflective of the company's ability to manage its cost of goods sold effectively, an aspect that is further reinforced by an InvestingPro Tip that praises the company's gross profit margins.
Another InvestingPro Tip for LILA suggests that analysts are anticipating the company to turn profitable this year, which could potentially make the current valuation more attractive to investors. The company's share buyback activity, as indicated by an InvestingPro Tip, also demonstrates management's confidence in the company's value proposition.
Investors considering LILA may find additional insights by exploring the full range of InvestingPro Tips available. Currently, there are 6 additional tips listed on InvestingPro, which can be accessed by visiting https://www.investing.com/pro/LILA. For those looking to deepen their analysis, use the coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription.
The company's stock has experienced a 6.98% increase in the 1-week price total return, suggesting a recent uptick in investor interest. However, the overall 1-year price total return is down by -13.7%, reflecting a more challenging longer-term performance. With the next earnings date scheduled for May 1, 2024, investors will be keenly awaiting further insights into the company's financial health and future prospects.
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