LATAM Airlines Group S.A. (NYSE:LTM) Short Interest Update

LATAM Airlines Group S.A. (NYSE:LTM) was the target of a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 1,797,135 shares, a decline of 47.2% from the June 30th total of 3,406,814 shares. Based on an average daily volume of 762,741 shares, the days-to-cover ratio is currently 2.4 days. Currently, 0.7% of the company’s shares are sold short.

Hedge Funds Weigh In On LATAM Airlines Group

Several institutional investors and hedge funds have recently made changes to their positions in LTM. Morgan Stanley raised its holdings in LATAM Airlines Group by 11.2% in the fourth quarter. Morgan Stanley now owns 2,091,845 shares of the transportation company’s stock valued at $112,981,000 after acquiring an additional 211,261 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in LATAM Airlines Group during the 4th quarter worth $83,266,000. Arrowstreet Capital Limited Partnership increased its position in shares of LATAM Airlines Group by 248.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,484,669 shares of the transportation company’s stock worth $67,181,000 after purchasing an additional 1,058,554 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of LATAM Airlines Group by 184.9% during the first quarter. Renaissance Technologies LLC now owns 1,267,200 shares of the transportation company’s stock worth $62,650,000 after purchasing an additional 822,400 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in LATAM Airlines Group by 266.7% in the third quarter. Vanguard Group Inc. now owns 1,039,414 shares of the transportation company’s stock worth $47,033,000 after purchasing an additional 755,997 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LTM. Weiss Ratings restated a “hold (c)” rating on shares of LATAM Airlines Group in a report on Friday, July 17th. Wall Street Zen raised shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 23rd. Jefferies Financial Group initiated coverage on shares of 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. JPMorgan Chase & Co. assumed coverage on shares of LATAM Airlines Group in a report on Wednesday, June 3rd. They set an “overweight” rating and a $70.00 target price on the stock. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $72.60 price target on shares of LATAM Airlines Group in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, LATAM Airlines Group currently has an average rating of “Buy” and an average price target of $66.27.

LATAM Airlines Group Stock Up 4.0%

Shares of NYSE LTM traded up $2.08 during trading on Thursday, reaching $54.13. 437,365 shares of the stock were exchanged, compared to its average volume of 1,120,936. The company has a market capitalization of $15.54 billion, a price-to-earnings ratio of 9.32, a price-to-earnings-growth ratio of 1.07 and a beta of 3.61. The business’s 50-day moving average price is $53.50 and its 200 day moving average price is $53.99. LATAM Airlines Group has a twelve month low of $41.41 and a twelve month high of $70.42.

LATAM Airlines Group (NYSE:LTM) last issued its quarterly earnings data on Wednesday, May 6th. The transportation company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.66. The firm had revenue of $4.08 billion for 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%. As a group, sell-side analysts expect that LATAM Airlines Group will post 5.95 earnings per share 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.