BlueCrest Capital Management Ltd Acquires New Holdings in LATAM Airlines Group S.A. $LTM

BlueCrest Capital Management Ltd bought a new position in LATAM Airlines Group S.A. (NYSE:LTM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 50,000 shares of the transportation company’s stock, valued at approximately $2,262,000.

Several other large investors also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its holdings in shares of LATAM Airlines Group by 248.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,484,669 shares of the transportation company’s stock valued at $67,181,000 after buying an additional 1,058,554 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of LATAM Airlines Group by 266.7% during the third quarter. Vanguard Group Inc. now owns 1,039,414 shares of the transportation company’s stock worth $47,033,000 after buying an additional 755,997 shares during the period. Two Sigma Investments LP grew its holdings in LATAM Airlines Group by 89.7% in the 3rd quarter. Two Sigma Investments LP now owns 954,224 shares of the transportation company’s stock worth $43,179,000 after buying an additional 451,107 shares in the last quarter. Burkehill Global Management LP bought a new position in LATAM Airlines Group in the 3rd quarter worth approximately $42,988,000. Finally, SPX Gestao de Recursos Ltda increased its position in LATAM Airlines Group by 3,884.5% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 935,321 shares of the transportation company’s stock valued at $42,323,000 after acquiring an additional 911,847 shares during the period.

Analyst Ratings Changes

LTM has been the subject of several research analyst reports. The Goldman Sachs Group set a $64.10 price objective on LATAM Airlines Group and gave the company a “neutral” rating in a report on Thursday, February 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Thursday, January 22nd. Zacks Research downgraded shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Barclays restated an “overweight” rating and set a $75.00 price objective (up from $60.00) on shares of LATAM Airlines Group in a research report on Thursday, February 5th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $67.00 target price (up from $56.00) on shares of LATAM Airlines Group in a report on Friday, February 20th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, LATAM Airlines Group has an average rating of “Hold” and a consensus price target of $68.70.

LATAM Airlines Group Price Performance

Shares of LTM opened at $47.62 on Friday. The company has a 50-day moving average of $58.53 and a two-hundred day moving average of $51.54. The stock has a market cap of $14.39 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 0.32 and a beta of 3.89. LATAM Airlines Group S.A. has a one year low of $26.36 and a one year high of $70.42.

LATAM Airlines Group (NYSE:LTM) last released its quarterly earnings results on Tuesday, February 3rd. The transportation company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.34. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.81 billion. LATAM Airlines Group had a net margin of 10.07% and a return on equity of 136.61%. Analysts anticipate that LATAM Airlines Group S.A. will post 3.37 earnings per share 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.