LATAM Airlines Group S.A. (NYSE:LTM) Short Interest Up 14.4% in February

LATAM Airlines Group S.A. (NYSE:LTM) saw a large growth in short interest in February. As of February 27th, there was short interest totaling 2,502,873 shares, a growth of 14.4% from the February 12th total of 2,188,465 shares. Based on an average daily trading volume, of 1,465,359 shares, the days-to-cover ratio is currently 1.7 days. Approximately 0.9% of the company’s shares are sold short. Approximately 0.9% of the company’s shares are sold short. Based on an average daily trading volume, of 1,465,359 shares, the days-to-cover ratio is currently 1.7 days.

Analyst Ratings Changes

A number of equities 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 stock a “neutral” rating in a research note on Thursday, February 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Thursday, January 22nd. Zacks Research lowered LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Morgan Stanley reissued an “equal weight” rating and issued a $67.00 price objective (up from $56.00) on shares of LATAM Airlines Group in a research note on Friday, February 20th. Finally, Barclays restated an “overweight” rating and set a $75.00 price objective (up from $60.00) on shares of LATAM Airlines Group in a report on Thursday, February 5th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $66.03.

LATAM Airlines Group Price Performance

NYSE:LTM opened at $48.59 on Thursday. LATAM Airlines Group has a 1-year low of $26.36 and a 1-year high of $70.42. The company has a 50-day moving average of $58.09 and a 200 day moving average of $51.53. The firm has a market cap of $14.68 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 0.34 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 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.34. LATAM Airlines Group had a net margin of 10.07% and a return on equity of 136.61%. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.81 billion. Sell-side analysts anticipate that LATAM Airlines Group will post 3.37 EPS for the current fiscal year.

Hedge Funds Weigh In On LATAM Airlines Group

A number of large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its position in LATAM Airlines Group by 24.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,777 shares of the transportation company’s stock valued at $204,000 after acquiring an additional 749 shares during the last quarter. Invesco Ltd. grew its holdings in LATAM Airlines Group by 26.6% in the fourth quarter. Invesco Ltd. now owns 12,058 shares of the transportation company’s stock worth $651,000 after purchasing an additional 2,533 shares during the last quarter. Vident Advisory LLC grew its holdings in LATAM Airlines Group by 40.4% in the fourth quarter. Vident Advisory LLC now owns 21,391 shares of the transportation company’s stock worth $1,155,000 after purchasing an additional 6,155 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of LATAM Airlines Group during the fourth quarter worth $21,009,000. Finally, Wellington Management Group LLP acquired a new position in shares of LATAM Airlines Group during the fourth quarter worth $844,000.

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.