Aubrey Capital Management Ltd Sells 50,400 Shares of LATAM Airlines Group S.A. $LTM

Aubrey Capital Management Ltd lessened its position in LATAM Airlines Group S.A. (NYSE:LTM) by 14.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 292,253 shares of the transportation company’s stock after selling 50,400 shares during the quarter. LATAM Airlines Group comprises about 7.8% of Aubrey Capital Management Ltd’s investment portfolio, making the stock its 3rd biggest position. Aubrey Capital Management Ltd owned about 0.10% of LATAM Airlines Group worth $14,449,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Advisors Preferred LLC lifted its stake in shares of LATAM Airlines Group by 448.1% in the first quarter. Advisors Preferred LLC now owns 21,864 shares of the transportation company’s stock valued at $1,081,000 after buying an additional 17,875 shares during the period. Sequoia Financial Advisors LLC acquired a new position in LATAM Airlines Group during the 1st quarter worth about $218,000. QRG Capital Management Inc. grew its stake in shares of LATAM Airlines Group by 33.0% during the first quarter. QRG Capital Management Inc. now owns 8,648 shares of the transportation company’s stock valued at $428,000 after purchasing an additional 2,144 shares during the last quarter. Ritholtz Wealth Management bought a new position in LATAM Airlines Group in the 1st quarter valued at $682,000. Finally, Verde Servicos Internacionais S.A. bought a new position in LATAM Airlines Group in the first quarter valued at about $890,000.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $72.60 target price on shares of LATAM Airlines Group in a report on Tuesday, May 12th. Barclays lowered their target price on LATAM Airlines Group from $75.00 to $67.00 and set an “overweight” rating for the company in a research note on Tuesday, March 24th. Wall Street Zen raised LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 23rd. Jefferies Financial Group started coverage on shares of LATAM Airlines Group in a research report on Thursday, June 18th. They issued a “buy” rating and a $70.00 price objective on the stock. Finally, Citigroup raised LATAM Airlines Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $53.00 to $58.00 in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $66.27.

LATAM Airlines Group Stock Performance

Shares of LTM opened at $53.43 on Wednesday. LATAM Airlines Group S.A. has a 52 week low of $40.52 and a 52 week high of $70.42. The firm’s 50-day simple moving average is $52.81 and its 200 day simple moving average is $54.24. The firm has a market cap of $15.34 billion, a P/E ratio of 9.20, a price-to-earnings-growth ratio of 1.26 and a beta of 3.61.

LATAM Airlines Group (NYSE:LTM) last released its quarterly earnings results on Wednesday, May 6th. The transportation company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.66. The business 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%. As a group, equities analysts forecast that LATAM Airlines Group S.A. will post 5.03 earnings per share 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.