Heights Capital Management Inc. Makes New $2.26 Million Investment in LATAM Airlines Group S.A. $LTM

Heights Capital Management Inc. bought a new stake in shares of LATAM Airlines Group S.A. (NYSE:LTM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 50,000 shares of the transportation company’s stock, valued at approximately $2,262,000.

Other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC bought a new position in shares of LATAM Airlines Group during the 1st quarter worth $3,061,000. Goldman Sachs Group Inc. raised its holdings in shares of 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 in the last quarter. Rhumbline Advisers raised its holdings in shares of LATAM Airlines Group by 113.8% in 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 in the last quarter. SG Americas Securities LLC purchased a new stake in LATAM Airlines Group in the second quarter worth about $595,000. Finally, Raiffeisen Bank International AG purchased a new stake in LATAM Airlines Group in the second quarter worth about $185,000.

LATAM Airlines Group Price Performance

Shares of NYSE LTM opened at $50.13 on Wednesday. LATAM Airlines Group S.A. has a 1-year low of $26.36 and a 1-year high of $70.42. The business has a fifty day moving average price of $58.26 and a 200 day moving average price of $51.55. The stock has a market capitalization of $15.15 billion, a P/E ratio of 10.07, a price-to-earnings-growth ratio of 0.33 and a beta of 3.89.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. The Goldman Sachs Group set a $64.10 target price on shares of LATAM Airlines Group and gave the company a “neutral” rating in a research report on Thursday, February 12th. Wall Street Zen raised shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. Morgan Stanley reiterated an “equal weight” rating and set a $67.00 price objective (up from $56.00) on shares of LATAM Airlines Group in a research note on Friday, February 20th. Citigroup raised shares of LATAM Airlines Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $53.00 to $58.00 in a report on Tuesday. Finally, Barclays reissued an “overweight” rating and issued a $75.00 price objective (up from $60.00) on shares of LATAM Airlines Group in a research note on Thursday, February 5th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $66.03.

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.