LATAM Airlines Group S.A. $LTM Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its holdings in shares of LATAM Airlines Group S.A. (NYSE:LTM) by 45.9% during the first quarter, Holdings Channel reports. The fund owned 58,317 shares of the transportation company’s stock after selling 49,483 shares during the quarter. Pictet Asset Management Holding SA’s holdings in LATAM Airlines Group were worth $2,883,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Farther Finance Advisors LLC grew its stake in LATAM Airlines Group by 49.1% during the 4th quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 246 shares in the last quarter. Leonteq Securities AG acquired a new position in shares of LATAM Airlines Group in the 4th quarter valued at approximately $78,000. Tower Research Capital LLC TRC acquired a new position in shares of LATAM Airlines Group in the 2nd quarter valued at approximately $90,000. Rhumbline Advisers boosted its stake in shares of 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. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of LATAM Airlines Group by 19.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,386 shares of the transportation company’s stock valued at $129,000 after buying an additional 391 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LTM. JPMorgan Chase & Co. began coverage on shares of LATAM Airlines Group in a research report on Wednesday, June 3rd. They set an “overweight” rating and a $70.00 price target for the company. The Goldman Sachs Group reiterated a “buy” rating and set a $72.60 price objective on shares of LATAM Airlines Group in a research note on Tuesday, May 12th. Citigroup raised shares of LATAM Airlines Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $53.00 to $58.00 in a report on Tuesday, March 17th. Zacks Research raised shares of LATAM Airlines Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. Finally, Wall Street Zen upgraded shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 23rd. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, LATAM Airlines Group has an average rating of “Moderate Buy” and a consensus target price of $66.27.

LATAM Airlines Group Stock Performance

Shares of NYSE:LTM opened at $56.55 on Friday. The firm has a 50 day simple moving average of $51.80 and a 200 day simple moving average of $54.15. The company has a market cap of $16.24 billion, a PE ratio of 9.73, a price-to-earnings-growth ratio of 1.34 and a beta of 3.61. LATAM Airlines Group S.A. has a 52 week low of $40.52 and a 52 week high of $70.42.

LATAM Airlines Group (NYSE:LTM) last posted its quarterly earnings results on Wednesday, May 6th. The transportation company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.66. The business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $3.96 billion. LATAM Airlines Group had a net margin of 11.03% and a return on equity of 127.75%. On average, equities analysts predict that LATAM Airlines Group S.A. will post 5.03 earnings per share for the current 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.