Ritholtz Wealth Management Invests $682,000 in LATAM Airlines Group S.A. $LTM

Ritholtz Wealth Management bought a new stake in shares of LATAM Airlines Group S.A. (NYSE:LTM) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 13,789 shares of the transportation company’s stock, valued at approximately $682,000.

A number of other hedge funds have also recently made changes to their positions in LTM. Verde Servicos Internacionais S.A. purchased a new position in LATAM Airlines Group in the 1st quarter worth about $890,000. SG Americas Securities LLC purchased a new stake in LATAM Airlines Group in the 1st quarter valued at about $233,000. BI Asset Management Fondsmaeglerselskab A S grew its stake in LATAM Airlines Group by 0.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 39,161 shares of the transportation company’s stock worth $1,936,000 after acquiring an additional 239 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in LATAM Airlines Group by 24.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,777 shares of the transportation company’s stock worth $204,000 after acquiring an additional 749 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of LATAM Airlines Group by 26.6% during the fourth quarter. Invesco Ltd. now owns 12,058 shares of the transportation company’s stock worth $651,000 after acquiring an additional 2,533 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LTM shares. 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 for the company. Weiss Ratings restated a “hold (c)” rating on shares of LATAM Airlines Group in a report on Tuesday, April 21st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $72.60 target price on shares of LATAM Airlines Group in a research report on Tuesday, May 12th. Citigroup upgraded LATAM Airlines Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $53.00 to $58.00 in a report on Tuesday, March 17th. Finally, Barclays dropped their price target on LATAM Airlines Group from $75.00 to $67.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 24th. Six equities 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 an average price target of $66.27.

LATAM Airlines Group Stock Performance

Shares of LTM opened at $58.56 on Tuesday. The company has a 50 day moving average price of $51.54 and a 200-day moving average price of $54.04. LATAM Airlines Group S.A. has a fifty-two week low of $40.28 and a fifty-two week high of $70.42. The stock has a market capitalization of $16.81 billion, a PE ratio of 10.08, a PEG ratio of 1.45 and a beta of 3.62.

LATAM Airlines Group (NYSE:LTM) last issued its quarterly earnings data on Wednesday, May 6th. The transportation company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.66. The company had revenue of $4.08 billion for 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%. Equities research analysts forecast that LATAM Airlines Group S.A. will post 4.82 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.