NewEdge Advisors LLC Buys Shares of 11,681 LATAM Airlines Group S.A. $LTM

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in LATAM Airlines Group by 6.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,122 shares of the transportation company’s stock valued at $169,000 after acquiring an additional 198 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in LATAM Airlines Group by 0.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 39,161 shares of the transportation company’s stock worth $1,936,000 after purchasing an additional 239 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings 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 valued at $40,000 after purchasing an additional 246 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in LATAM Airlines Group by 19.6% in 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 purchasing an additional 391 shares during the period. Finally, Royal Bank of Canada grew its position in shares of LATAM Airlines Group by 22.3% during the 1st quarter. Royal Bank of Canada now owns 3,268 shares of the transportation company’s stock valued at $162,000 after purchasing an additional 596 shares in the last quarter.

LATAM Airlines Group Price Performance

Shares of LTM opened at $50.48 on Friday. The firm has a market cap of $14.49 billion, a P/E ratio of 9.28, a P/E/G ratio of 1.13 and a beta of 3.62. The stock has a 50 day simple moving average of $54.40 and a two-hundred day simple moving average of $53.13. LATAM Airlines Group S.A. has a 1 year low of $41.41 and a 1 year high of $70.42.

LATAM Airlines Group (NYSE:LTM) last posted its quarterly earnings results on Tuesday, August 4th. The transportation company reported $0.44 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.06 billion. On average, equities analysts anticipate that LATAM Airlines Group S.A. will post 5.46 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Zacks Research lowered LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Monday. The Goldman Sachs Group reiterated a “buy” rating and set a $72.60 target price on shares of LATAM Airlines Group in a research report on Tuesday, May 12th. Jefferies Financial Group assumed coverage on shares of LATAM Airlines Group in a research note on Thursday, June 18th. They issued a “buy” rating and a $70.00 price target for the company. JPMorgan Chase & Co. initiated 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 objective on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of LATAM Airlines Group in a report on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.27.

LATAM Airlines Group 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.