Pictet Asset Management Holding SA Cuts Stake in LATAM Airlines Group S.A. $LTM

Pictet Asset Management Holding SA trimmed its stake in LATAM Airlines Group S.A. (NYSE:LTM) by 45.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,317 shares of the transportation company’s stock after selling 49,483 shares during the quarter. Pictet Asset Management Holding SA’s holdings in LATAM Airlines Group were worth $2,883,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. AQR Capital Management LLC purchased a new stake in shares of LATAM Airlines Group during the 1st quarter valued at $3,061,000. Goldman Sachs Group Inc. boosted its holdings in LATAM Airlines Group by 133.9% in the first quarter. Goldman Sachs Group Inc. now owns 40,258 shares of the transportation company’s stock valued at $1,259,000 after acquiring an additional 23,044 shares during the last quarter. Rhumbline Advisers grew its position in LATAM Airlines Group by 113.8% during the first quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock valued at $100,000 after acquiring an additional 1,700 shares during the period. Quantbot Technologies LP purchased a new stake in LATAM Airlines Group during the second quarter valued at about $402,000. Finally, First Trust Advisors LP grew its position 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 valued at $2,809,000 after acquiring an additional 41,363 shares during the period.

Analyst Ratings Changes

A number of equities analysts have recently commented on LTM shares. Citigroup upgraded LATAM Airlines Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $53.00 to $58.00 in a report on Tuesday, March 17th. Jefferies Financial Group began coverage on shares of LATAM Airlines Group in a research report on Thursday, June 18th. They set a “buy” rating and a $70.00 target price for the company. Zacks Research raised shares of LATAM Airlines Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. Morgan Stanley upgraded shares of LATAM Airlines Group from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $61.00 to $60.00 in a research note on Thursday, March 26th. Finally, Barclays dropped their price objective on shares of LATAM Airlines Group from $75.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, March 24th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, LATAM Airlines Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.27.

LATAM Airlines Group Stock Up 0.2%

NYSE LTM opened at $56.55 on Friday. The stock has a market cap of $16.24 billion, a PE ratio of 9.73, a P/E/G ratio of 1.34 and a beta of 3.61. LATAM Airlines Group S.A. has a fifty-two week low of $40.52 and a fifty-two week high of $70.42. The business has a 50 day moving average price of $51.80 and a two-hundred day moving average price of $54.15.

LATAM Airlines Group (NYSE:LTM) last posted its quarterly earnings data 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 net margin of 11.03% and a return on equity of 127.75%. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $3.96 billion. Sell-side analysts anticipate that LATAM Airlines Group S.A. will post 5.03 EPS for the current fiscal 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.