TT International Asset Management LTD Sells 12,637 Shares of LATAM Airlines Group S.A. $LTM

TT International Asset Management LTD lessened its stake in shares of LATAM Airlines Group S.A. (NYSE:LTM) by 63.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,257 shares of the transportation company’s stock after selling 12,637 shares during the period. TT International Asset Management LTD’s holdings in LATAM Airlines Group were worth $362,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Navi International Administradora e Gestora de Recursos Financeiros Ltda. boosted its holdings in shares of LATAM Airlines Group by 1,478.6% during the 2nd quarter. Navi International Administradora e Gestora de Recursos Financeiros Ltda. now owns 326,007 shares of the transportation company’s stock valued at $18,996,000 after acquiring an additional 305,355 shares in the last quarter. SPX Gestao de Recursos Ltda grew its position in LATAM Airlines Group by 168.5% during the 1st quarter. SPX Gestao de Recursos Ltda now owns 881,976 shares of the transportation company’s stock worth $43,605,000 after acquiring an additional 553,513 shares during the last quarter. Renaissance Technologies LLC increased its holdings in LATAM Airlines Group by 184.9% in the 1st 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 in the last quarter. Bank of New York Mellon Corp acquired a new position in LATAM Airlines Group in the 1st quarter worth about $746,000. Finally, Bank of America Corp DE increased its holdings in LATAM Airlines Group by 641.9% in the 1st quarter. Bank of America Corp DE now owns 346,402 shares of the transportation company’s stock worth $17,126,000 after purchasing an additional 299,710 shares in the last quarter.

Wall Street Analyst Weigh In

LTM has been the subject of several research reports. Wall Street Zen downgraded LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded LATAM Airlines Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, October 26th. Finally, Zacks Research cut LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, LATAM Airlines Group has a consensus rating of “Moderate Buy” and a consensus target price of $66.27.

LATAM Airlines Group Stock Performance

Shares of NYSE LTM opened at $43.89 on Wednesday. The firm has a 50 day moving average price of $49.54 and a two-hundred day moving average price of $52.74. The stock has a market cap of $12.60 billion, a P/E ratio of 8.01, a price-to-earnings-growth ratio of 1.11 and a beta of 3.87. LATAM Airlines Group S.A. has a 52-week low of $41.44 and a 52-week high of $70.42.

LATAM Airlines Group (NYSE:LTM) last issued its quarterly earnings results on Tuesday, November 3rd. The transportation company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.31. LATAM Airlines Group had a net margin of 9.69% and a return on equity of 101.21%. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.52 billion. Analysts predict that LATAM Airlines Group S.A. will post 4.82 earnings per share for the current fiscal year.

About LATAM Airlines Group

LATAM Airlines Group SA is a Chile-based airline holding company and one of the largest air transportation groups in Latin America. The group provides scheduled passenger and cargo services through affiliated airlines operating under the LATAM brand, connecting major cities within Latin America and serving destinations in North America, Europe, the Caribbean, Africa and Oceania.

Its passenger business includes domestic and international flights, while its cargo operations transport freight using dedicated aircraft and cargo capacity on passenger flights.