Ninety One UK Ltd raised its stake in LATAM Airlines Group S.A. (NYSE:LTM – Free Report) by 36.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,457,525 shares of the transportation company’s stock after buying an additional 651,218 shares during the period. Ninety One UK Ltd owned 0.86% of LATAM Airlines Group worth $122,606,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its holdings in shares of LATAM Airlines Group by 184.9% during the first quarter. Renaissance Technologies LLC now owns 1,267,200 shares of the transportation company’s stock worth $62,650,000 after buying an additional 822,400 shares in the last quarter. SPX Gestao de Recursos Ltda lifted its stake in shares of LATAM Airlines Group by 168.5% in the 1st quarter. SPX Gestao de Recursos Ltda now owns 881,976 shares of the transportation company’s stock valued at $43,605,000 after acquiring an additional 553,513 shares during the last quarter. Ninety One North America Inc. boosted its holdings in shares of LATAM Airlines Group by 1.6% during the 3rd quarter. Ninety One North America Inc. now owns 629,861 shares of the transportation company’s stock valued at $31,424,000 after acquiring an additional 9,750 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of LATAM Airlines Group by 641.9% during the 1st quarter. Bank of America Corp DE now owns 346,402 shares of the transportation company’s stock valued at $17,126,000 after acquiring an additional 299,710 shares in the last quarter. Finally, Navi International Administradora e Gestora de Recursos Financeiros Ltda. boosted its holdings in shares of LATAM Airlines Group by 1,478.6% during the 2nd quarter. Navi International Administradora e Gestora de Recursos Financeiros Ltda. now owns 326,007 shares of the transportation company’s stock valued at $18,996,000 after acquiring an additional 305,355 shares in the last quarter.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on LTM. Jefferies Financial Group assumed coverage on LATAM Airlines Group in a research report on Thursday, June 18th. They set a “buy” rating and a $70.00 price objective on the stock. Weiss Ratings cut LATAM Airlines Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 25th. Wall Street Zen downgraded LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Zacks Research lowered LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $66.27.
LATAM Airlines Group Trading Up 1.2%
NYSE:LTM traded up $0.55 during mid-day trading on Thursday, hitting $47.87. 260,884 shares of the company’s stock were exchanged, compared to its average volume of 1,023,750. LATAM Airlines Group S.A. has a fifty-two week low of $43.00 and a fifty-two week high of $70.42. The firm has a market capitalization of $13.74 billion, a P/E ratio of 8.79, a PEG ratio of 1.18 and a beta of 3.64. The company has a 50 day simple moving average of $51.53 and a 200-day simple moving average of $51.97.
LATAM Airlines Group (NYSE:LTM – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. The firm had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.06 billion. LATAM Airlines Group had a net margin of 9.69% and a return on equity of 101.21%. As a group, analysts expect that LATAM Airlines Group S.A. will post 4.96 earnings per share for the current year.
About LATAM Airlines Group
LATAM Airlines Group SA is a Chile-based airline holding company and one of the largest air transportation groups in Latin America. Through its LATAM Airlines affiliates, the group provides scheduled passenger and cargo air services to domestic and international destinations.
The company serves markets across South America, including Chile, Brazil, Colombia, Ecuador, and Peru, as well as destinations in North America, the Caribbean, Europe, and Oceania. Its operations include domestic routes within several Latin American countries, international passenger services, and air freight transportation.
LATAM Airlines Group was created in 2012 through the merger of Chile’s LAN Airlines and Brazil’s TAM Airlines.
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