Banco BTG Pactual S.A. Purchases 125,200 Shares of LATAM Airlines Group S.A. $LTM

Banco BTG Pactual S.A. grew its stake in shares of LATAM Airlines Group S.A. (NYSE:LTM) by 417.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 155,200 shares of the transportation company’s stock after buying an additional 125,200 shares during the period. LATAM Airlines Group makes up 1.4% of Banco BTG Pactual S.A.’s portfolio, making the stock its 18th biggest position. Banco BTG Pactual S.A. owned approximately 0.05% of LATAM Airlines Group worth $8,382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LTM. AQR Capital Management LLC bought a new position in LATAM Airlines Group during the first quarter worth about $3,061,000. Goldman Sachs Group Inc. boosted its holdings in LATAM Airlines Group by 133.9% during the first quarter. Goldman Sachs Group Inc. now owns 40,258 shares of the transportation company’s stock worth $1,259,000 after buying an additional 23,044 shares during the last quarter. Rhumbline Advisers boosted its holdings in LATAM Airlines Group by 113.8% during the first quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock worth $100,000 after buying an additional 1,700 shares during the last quarter. Quantbot Technologies LP bought a new position in LATAM Airlines Group during the second quarter worth about $402,000. Finally, First Trust Advisors LP boosted its holdings in LATAM Airlines Group by 149.1% during the second quarter. First Trust Advisors LP now owns 69,108 shares of the transportation company’s stock worth $2,809,000 after buying an additional 41,363 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays reduced their target price on LATAM Airlines Group from $75.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, March 24th. The Goldman Sachs Group reiterated a “buy” rating and set a $72.60 price objective on shares of LATAM Airlines Group in a report on Tuesday, May 12th. Citigroup upgraded LATAM Airlines Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $53.00 to $58.00 in a report on Tuesday, March 17th. Zacks Research upgraded LATAM Airlines Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of LATAM Airlines Group in a report on Tuesday, April 21st. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.52.

LATAM Airlines Group Stock Performance

Shares of LATAM Airlines Group stock opened at $51.57 on Friday. The business’s 50 day simple moving average is $50.43 and its 200 day simple moving average is $53.45. 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 cap of $14.81 billion, a PE ratio of 8.88, a P/E/G ratio of 1.34 and a beta of 3.62.

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

About LATAM Airlines Group

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.