Advisors Preferred LLC Buys 17,875 Shares of LATAM Airlines Group S.A. $LTM

Advisors Preferred LLC boosted its position in shares of LATAM Airlines Group S.A. (NYSE:LTM) by 448.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,864 shares of the transportation company’s stock after buying an additional 17,875 shares during the quarter. Advisors Preferred LLC’s holdings in LATAM Airlines Group were worth $1,081,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Sequoia Financial Advisors LLC purchased a new stake in shares of LATAM Airlines Group in the first quarter valued at $218,000. QRG Capital Management Inc. grew its position in LATAM Airlines Group by 33.0% in the 1st quarter. QRG Capital Management Inc. now owns 8,648 shares of the transportation company’s stock valued at $428,000 after acquiring an additional 2,144 shares during the last quarter. Ritholtz Wealth Management purchased a new position in LATAM Airlines Group in the 1st quarter worth about $682,000. Verde Servicos Internacionais S.A. purchased a new position in shares of LATAM Airlines Group during the first quarter worth approximately $890,000. Finally, SG Americas Securities LLC purchased a new position in LATAM Airlines Group during the 1st quarter worth $233,000.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LTM shares. Weiss Ratings restated a “hold (c)” rating on shares of LATAM Airlines Group in a report on Tuesday, April 21st. 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 report on Thursday, March 26th. Wall Street Zen upgraded shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 23rd. The Goldman Sachs Group restated a “buy” rating and issued a $72.60 price target on shares of LATAM Airlines Group in a report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. started 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 objective on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $66.27.

LATAM Airlines Group Stock Up 0.2%

Shares of LTM opened at $53.43 on Wednesday. The company has a market cap of $15.34 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 1.26 and a beta of 3.61. LATAM Airlines Group S.A. has a twelve month low of $40.52 and a twelve month high of $70.42. The company has a 50 day moving average of $52.81 and a two-hundred day moving average of $54.24.

LATAM Airlines Group (NYSE:LTM) last issued its quarterly earnings results on Wednesday, May 6th. The transportation company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.66. The business had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $3.96 billion. LATAM Airlines Group had a return on equity of 127.75% and a net margin of 11.03%. On average, sell-side analysts expect that LATAM Airlines Group S.A. will post 5.03 EPS for the current year.

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.