NewEdge Advisors LLC purchased a new stake in LATAM Airlines Group S.A. (NYSE:LTM – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,681 shares of the transportation company’s stock, valued at approximately $578,000.
A number of other hedge funds have also recently bought and sold shares of the business. Itau Unibanco Holding S.A. purchased a new stake in LATAM Airlines Group during the 4th quarter worth approximately $83,266,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of LATAM Airlines Group by 248.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,484,669 shares of the transportation company’s stock valued at $67,181,000 after buying an additional 1,058,554 shares during the last quarter. Burkehill Global Management LP purchased a new position in shares of LATAM Airlines Group during the 3rd quarter valued at approximately $42,988,000. Zimmer Partners LP acquired a new stake in shares of LATAM Airlines Group during the third quarter worth approximately $37,331,000. Finally, Renaissance Technologies LLC grew its position 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.
LATAM Airlines Group Price Performance
Shares of LTM opened at $54.56 on Tuesday. The business’s fifty day moving average price is $53.65 and its 200 day moving average price is $53.93. LATAM Airlines Group S.A. has a 12-month low of $41.41 and a 12-month high of $70.42. The stock has a market capitalization of $15.66 billion, a PE ratio of 9.39, a price-to-earnings-growth ratio of 1.06 and a beta of 3.62.
Analysts Set New Price Targets
A number of research analysts have commented on LTM shares. Zacks Research upgraded shares of LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. initiated coverage on shares of LATAM Airlines Group in a research report on Wednesday, June 3rd. They issued an “overweight” rating and a $70.00 target price for the company. The Goldman Sachs Group restated a “buy” rating and issued a $72.60 target price on shares of LATAM Airlines Group in a research note on Tuesday, May 12th. Jefferies Financial Group assumed coverage on shares of LATAM Airlines Group in a research report on Thursday, June 18th. They set a “buy” rating and a $70.00 price target on the stock. Finally, Wall Street Zen upgraded LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 23rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $66.27.
Check Out Our Latest Analysis on LATAM Airlines Group
LATAM Airlines Group Profile
LATAM Airlines Group SA is a Chilean-based airline holding company formed in 2012 through the merger of LAN Airlines of Chile and TAM Linhas Aéreas of Brazil. The Group offers passenger and cargo air transportation services across South America and beyond, operating under a multi‐brand strategy that encompasses several nationally recognized carriers. Headquartered in Santiago, Chile, LATAM is structured to serve diverse market segments with full-service, premium and low‐cost offerings.
The core business activities of LATAM Airlines Group include scheduled domestic and international passenger flights, air cargo services and maintenance, repair and overhaul (MRO) capabilities through its technical divisions.
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