Billionaire John C. Malone bought 37,082 Series A Preference Shares of Liberty Latin America for about $758,000, a regulatory filing shows. The purchase priced the preference shares far above where the common stock trades, and lifts Malone's combined position past 3.8 million shares worth $32.41 million.
Liberty Latin America Ltd. (NASDAQ: LILA) Director Emeritus John C. Malone bought 37,082 Series A Preference Shares for about $758,000 on Sept. 16 and Sept. 17, 2026, according to an SEC Form 4 filing. The shares were acquired at a weighted average price of $20.43 each.
Preference shares priced well above common stock
The $20.43 purchase price sits far above the $8.41 close of LILA's common stock as of Sept. 18, 2026. That gap exists because Malone bought a different class of stock, the Series A Preference Shares that trade under the ticker LILAP.
These preference shares carry a liquidation value of $25 plus any unpaid dividends, so the purchase price still represents a discount to face value. They pay a 9% dividend rate and cannot be called before their fifth year of issue, in 2031. That structure makes them behave more like a bond than common equity.
Malone's stake tops 3.8 million shares
The shares Malone bought are held through charitable remainder unitrusts, where he serves as co-trustee, and through the Leslie A. Malone 1995 Revocable Trust, though he disclaims beneficial ownership except for his pecuniary interest. After the purchase, his combined direct and indirect position exceeds 3.8 million shares, worth $32.41 million based on the Sept. 17, 2026 valuation date.
Directly held shares now stand at 2,305,677, with another 1,494,051 held indirectly. The purchase came after LILA's equity produced a 75% total return over the 12 months ending Sept. 17, 2026.
What insider buying signals
The Motley Fool notes that insiders sell shares for many reasons — raising cash, diversifying a portfolio, or a bearish outlook — but argues they typically buy only when they expect the share price to rise. By that logic, Malone's purchase reads as a bullish signal on the stock.
That signal is further bolstered, the outlet argues, by research showing insider purchases more often than not predict a higher share price 30 days later. The preference shares' 9% dividend rate adds a separate income angle for holders regardless of where the common stock moves next.
Source: Motley Fool
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