Brendan J. Paddick, a director at Liberty Latin America Ltd. (NASDAQ:LILA), recently made a series of significant stock purchases, as detailed in a recent SEC filing. The company, currently valued at $1.35 billion, has seen its stock decline over 20% in the past six months, though InvestingPro analysis suggests the shares are currently fairly valued. Over three consecutive days, Paddick acquired a total of 84,497 Class A and Class C common shares, with an aggregate value of $649,169. The shares were bought at prices ranging from $6.6941 to $6.9845, with the current stock price at $6.84, sitting well below its 52-week high of $10.81.
On December 2, Paddick purchased 8,582 Class A shares at an average price of $6.9792 and 25,674 Class C shares at $6.9845. The following day, he acquired 14,468 Class A shares at $6.9217 and 14,259 Class C shares at $6.8892. On December 4, he bought 21,447 Class A shares at $6.723 and 10,067 Class C shares at $6.6941.
These transactions reflect Paddick's continued investment in Liberty Latin America, bolstering his direct ownership in the company.
In other recent news, telecommunications leader Liberty Latin America reported its third-quarter earnings, revealing both challenges and growth areas. The company added over 50,000 high-speed broadband and postpaid mobile subscribers year-to-date, excluding Puerto Rico, and reported an adjusted OIBDA of $1.2 billion. Despite a significant decline in Liberty Puerto Rico's revenue due to Hurricane Beryl, the company remains hopeful about its future performance, notably its expansion in Peru and the Caribbean.
Liberty Latin America also refinanced $1 billion in senior notes, extending its debt maturity. While Q3 reported revenue declined by 3% to $1.1 billion, adjusted OIBDA grew by 4% to $403 million, indicating a focus on cost reductions and growth investments, particularly in the B2B sector.
The company expects an improved adjusted OIBDA in Q4, driven by subscriber growth and seasonal performance. Despite challenges in Puerto Rico due to AT&T migration, management remains confident in future growth and operational improvements across Latin America. These are among the recent developments for Liberty Latin America.
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