Capital Wealth Planning LLC Makes New $3.11 Million Investment in LATAM Airlines Group S.A. $LTM

Capital Wealth Planning LLC bought a new position in LATAM Airlines Group S.A. (NYSE:LTM) in the fourth quarter, HoldingsChannel reports. The fund bought 56,924 shares of the transportation company’s stock, valued at approximately $3,107,000.

A number of other hedge funds have also bought and sold shares of the business. Arrowstreet Capital Limited Partnership raised its position in LATAM Airlines Group by 248.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,484,669 shares of the transportation company’s stock worth $67,181,000 after buying an additional 1,058,554 shares during the last quarter. Vanguard Group Inc. raised its position in LATAM Airlines Group by 266.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,039,414 shares of the transportation company’s stock worth $47,033,000 after buying an additional 755,997 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in LATAM Airlines Group by 87.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,018,218 shares of the transportation company’s stock worth $54,994,000 after buying an additional 474,593 shares during the last quarter. Two Sigma Investments LP raised its position in LATAM Airlines Group by 89.7% in the 3rd quarter. Two Sigma Investments LP now owns 954,224 shares of the transportation company’s stock worth $43,179,000 after buying an additional 451,107 shares during the last quarter. Finally, Burkehill Global Management LP purchased a new position in LATAM Airlines Group in the 3rd quarter worth about $42,988,000.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on LTM shares. Weiss Ratings reissued a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Tuesday, April 21st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $72.60 price target on shares of LATAM Airlines Group in a research report on Tuesday, May 12th. Wall Street Zen raised shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 23rd. JPMorgan Chase & Co. began coverage on shares of LATAM Airlines Group in a research report on Wednesday, June 3rd. They set an “overweight” rating and a $70.00 price target for the company. Finally, Citigroup raised shares of LATAM Airlines Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $53.00 to $58.00 in a research report on Tuesday, March 17th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.52.

LATAM Airlines Group Stock Down 3.9%

NYSE LTM opened at $47.34 on Thursday. LATAM Airlines Group S.A. has a 52 week low of $36.64 and a 52 week high of $70.42. The firm has a market capitalization of $13.59 billion, a P/E ratio of 8.15, a PEG ratio of 1.39 and a beta of 3.62. The company has a 50-day moving average price of $50.39 and a 200-day moving average price of $53.41.

LATAM Airlines Group (NYSE:LTM) last released its quarterly earnings results on Wednesday, May 6th. The transportation company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.35 by $0.66. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $3.96 billion. LATAM Airlines Group had a net margin of 11.03% and a return on equity of 127.75%. As a group, equities research analysts anticipate that LATAM Airlines Group S.A. will post 4.22 EPS for the current year.

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.