JPMorgan Chase & Co. Acquires 237,363 Shares of LATAM Airlines Group S.A. $LTM

JPMorgan Chase & Co. lifted its holdings in LATAM Airlines Group S.A. (NYSE:LTM) by 79.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 535,389 shares of the transportation company’s stock after buying an additional 237,363 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.18% of LATAM Airlines Group worth $24,226,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership bought a new stake in LATAM Airlines Group during the second quarter worth about $17,317,000. Marshall Wace LLP bought a new stake in shares of LATAM Airlines Group in the 2nd quarter worth approximately $12,308,000. BNP Paribas Financial Markets boosted its position in shares of LATAM Airlines Group by 562.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 331,959 shares of the transportation company’s stock worth $13,491,000 after purchasing an additional 281,816 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of LATAM Airlines Group by 75.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 543,625 shares of the transportation company’s stock worth $24,599,000 after buying an additional 234,412 shares during the last quarter. Finally, Bank of America Corp DE increased its position in LATAM Airlines Group by 160.2% during the 2nd quarter. Bank of America Corp DE now owns 224,174 shares of the transportation company’s stock valued at $9,110,000 after buying an additional 138,006 shares in the last quarter.

LATAM Airlines Group Stock Performance

NYSE LTM opened at $56.05 on Monday. LATAM Airlines Group S.A. has a one year low of $26.36 and a one year high of $70.42. The stock has a 50-day moving average of $59.47 and a 200 day moving average of $51.35. The company has a market capitalization of $16.94 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 0.37 and a beta of 3.89.

LATAM Airlines Group (NYSE:LTM) last announced its quarterly earnings results on Tuesday, February 3rd. The transportation company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.34. LATAM Airlines Group had a net margin of 10.07% and a return on equity of 136.61%. The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.81 billion. On average, equities analysts predict that LATAM Airlines Group S.A. will post 3.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LTM has been the topic of several analyst reports. Wall Street Zen raised LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Thursday, January 22nd. Morgan Stanley reissued an “equal weight” rating and set a $67.00 price objective (up from $56.00) on shares of LATAM Airlines Group in a research report on Friday, February 20th. Zacks Research raised shares of LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a report on Friday, January 9th. Finally, The Goldman Sachs Group set a $64.10 target price on shares of LATAM Airlines Group and gave the stock a “neutral” rating in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.70.

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.