NewEdge Advisors LLC Takes $578,000 Position in LATAM Airlines Group S.A. $LTM

NewEdge Advisors LLC bought a new stake in shares of LATAM Airlines Group S.A. (NYSE:LTM) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,681 shares of the transportation company’s stock, valued at approximately $578,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in LATAM Airlines Group by 49.1% in the 4th quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company’s stock worth $40,000 after purchasing an additional 246 shares during the period. Assetmark Inc. boosted its stake in shares of LATAM Airlines Group by 684.3% during the first quarter. Assetmark Inc. now owns 1,302 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 1,136 shares during the period. Leonteq Securities AG bought a new position in shares of LATAM Airlines Group in the fourth quarter worth approximately $78,000. Tower Research Capital LLC TRC purchased a new position in shares of LATAM Airlines Group in the second quarter worth $90,000. Finally, Rhumbline Advisers raised its holdings in LATAM Airlines Group by 113.8% during the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock valued at $100,000 after buying an additional 1,700 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LTM. Weiss Ratings reissued a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Friday, July 17th. Jefferies Financial Group began coverage on LATAM Airlines Group in a research note on Thursday, June 18th. They issued a “buy” rating and a $70.00 target price on the stock. Wall Street Zen lowered LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research cut LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $72.60 price objective on shares of LATAM Airlines Group in a research report on Tuesday, May 12th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.27.

LATAM Airlines Group Trading Down 1.8%

Shares of LTM opened at $50.48 on Friday. LATAM Airlines Group S.A. has a 1-year low of $41.41 and a 1-year high of $70.42. The firm’s 50-day moving average price is $54.40 and its 200-day moving average price is $53.13. The firm has a market capitalization of $14.49 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 1.13 and a beta of 3.62.

LATAM Airlines Group (NYSE:LTM) last released its quarterly earnings results on Tuesday, August 4th. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. LATAM Airlines Group had a net margin of 9.69% and a return on equity of 101.21%. The company had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.06 billion. On average, research analysts forecast that LATAM Airlines Group S.A. will post 5.46 EPS for the current fiscal year.

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.