BI Asset Management Fondsmaeglerselskab A S Invests $2.10 Million in LATAM Airlines Group S.A. $LTM

BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of LATAM Airlines Group S.A. (NYSE:LTM) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 38,922 shares of the transportation company’s stock, valued at approximately $2,102,000.

Several other hedge funds and other institutional investors have also made changes to their positions in LTM. Arrowstreet Capital Limited Partnership raised 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 worth $67,181,000 after buying an additional 1,058,554 shares during the last quarter. Burkehill Global Management LP acquired a new position in shares of LATAM Airlines Group during the 3rd quarter worth $42,988,000. SPX Gestao de Recursos Ltda raised its stake in shares of LATAM Airlines Group by 3,884.5% during the 3rd quarter. SPX Gestao de Recursos Ltda now owns 935,321 shares of the transportation company’s stock worth $42,323,000 after buying an additional 911,847 shares during the last quarter. Zimmer Partners LP acquired a new position in LATAM Airlines Group in the 3rd quarter valued at about $37,331,000. Finally, INCA Investments LLC acquired a new position in LATAM Airlines Group in the 4th quarter valued at about $43,590,000.

LATAM Airlines Group Price Performance

LTM opened at $47.08 on Tuesday. The stock has a market capitalization of $13.52 billion, a price-to-earnings ratio of 8.10, a price-to-earnings-growth ratio of 1.37 and a beta of 3.62. The business has a 50-day moving average of $50.35 and a two-hundred day moving average of $53.39. LATAM Airlines Group S.A. has a 12 month low of $36.64 and a 12 month high of $70.42.

LATAM Airlines Group (NYSE:LTM) last posted 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 company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $3.96 billion. LATAM Airlines Group had a return on equity of 127.75% and a net margin of 11.03%. Equities research analysts anticipate that LATAM Airlines Group S.A. will post 4.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LTM. The Goldman Sachs Group reissued a “buy” rating and issued a $72.60 target price on shares of LATAM Airlines Group in a research note on Tuesday, May 12th. Morgan Stanley raised shares of LATAM Airlines Group from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $61.00 to $60.00 in a research note on Thursday, March 26th. Citigroup raised shares of LATAM Airlines Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $53.00 to $58.00 in a research note on Tuesday, March 17th. Wall Street Zen raised shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 23rd. Finally, JPMorgan Chase & Co. began coverage on shares of LATAM Airlines Group in a research note on Wednesday, June 3rd. They issued an “overweight” rating and a $70.00 target price for the company. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, LATAM Airlines Group has an average rating of “Moderate Buy” and a consensus target price of $65.52.

LATAM Airlines Group Company 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.