LATAM Airlines Group S.A. (NYSE:LTM) Sees Significant Growth in Short Interest

LATAM Airlines Group S.A. (NYSE:LTMGet Free Report) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totaling 3,397,117 shares, an increase of 89.0% from the July 15th total of 1,797,135 shares. Approximately 1.3% of the company’s stock are sold short. Based on an average trading volume of 663,105 shares, the days-to-cover ratio is currently 5.1 days.

Institutional Trading of LATAM Airlines Group

Large investors have recently made changes to their positions in the business. AQR Capital Management LLC purchased a new position in shares of LATAM Airlines Group during the first quarter worth $3,061,000. Goldman Sachs Group Inc. grew its position in LATAM Airlines Group by 133.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 40,258 shares of the transportation company’s stock worth $1,259,000 after purchasing an additional 23,044 shares during the period. Rhumbline Advisers raised its stake in shares of LATAM Airlines Group by 113.8% during the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock valued at $100,000 after buying an additional 1,700 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of LATAM Airlines Group during the 2nd quarter valued at about $402,000. Finally, First Trust Advisors LP raised its stake in shares of LATAM Airlines Group by 149.1% during the 2nd quarter. First Trust Advisors LP now owns 69,108 shares of the transportation company’s stock valued at $2,809,000 after buying an additional 41,363 shares during the last quarter.

LATAM Airlines Group Price Performance

LATAM Airlines Group stock traded down $0.11 during trading hours on Monday, hitting $52.15. 566,260 shares of the stock traded hands, compared to its average volume of 1,089,254. The firm’s 50 day moving average price is $54.21 and its 200-day moving average price is $53.54. The stock has a market capitalization of $14.97 billion, a price-to-earnings ratio of 9.59, a P/E/G ratio of 1.15 and a beta of 3.62. LATAM Airlines Group has a 1 year low of $41.41 and a 1 year high of $70.42.

LATAM Airlines Group (NYSE:LTMGet Free Report) last released its earnings results on Tuesday, August 4th. The transportation company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. LATAM Airlines Group had a return on equity of 101.21% and a net margin of 9.69%.The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.06 billion. Research analysts forecast that LATAM Airlines Group will post 5.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of LATAM Airlines Group in a report on Friday, July 17th. The Goldman Sachs Group reiterated a “buy” rating and issued a $72.60 target price on shares of LATAM Airlines Group in a research note on Tuesday, May 12th. Wall Street Zen downgraded shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. initiated coverage on shares of LATAM Airlines Group in a research note on Wednesday, June 3rd. They set an “overweight” rating and a $70.00 price target on the stock. Finally, Jefferies Financial Group initiated coverage on shares of LATAM Airlines Group in a report on Thursday, June 18th. They issued a “buy” rating and a $70.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, LATAM Airlines Group currently has a consensus rating of “Buy” and a consensus target price of $66.27.

Read Our Latest Analysis on LATAM Airlines Group

About LATAM Airlines Group

(Get Free Report)

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.

Further Reading

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