SPX Gestao de Recursos Ltda Grows Stake in LATAM Airlines Group S.A. $LTM

SPX Gestao de Recursos Ltda increased its holdings in LATAM Airlines Group S.A. (NYSE:LTM) by 3,884.5% in the third quarter, HoldingsChannel reports. The firm owned 935,321 shares of the transportation company’s stock after purchasing an additional 911,847 shares during the period. LATAM Airlines Group accounts for approximately 3.5% of SPX Gestao de Recursos Ltda’s portfolio, making the stock its 9th biggest holding. SPX Gestao de Recursos Ltda’s holdings in LATAM Airlines Group were worth $42,323,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Tower Research Capital LLC TRC acquired a new stake in shares of LATAM Airlines Group in the second quarter worth $90,000. PNC Financial Services Group Inc. raised its holdings in LATAM Airlines Group by 392.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,924 shares of the transportation company’s stock worth $132,000 after acquiring an additional 2,330 shares during the period. Rhumbline Advisers lifted its position in LATAM Airlines Group by 113.8% during the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock worth $100,000 after acquiring an additional 1,700 shares during the last quarter. CWM LLC lifted its position in LATAM Airlines Group by 2,004.2% during the 3rd quarter. CWM LLC now owns 3,493 shares of the transportation company’s stock worth $158,000 after acquiring an additional 3,327 shares during the last quarter. Finally, Optivise Advisory Services LLC acquired a new stake in shares of LATAM Airlines Group in the third quarter valued at about $200,000.

LATAM Airlines Group Price Performance

Shares of LTM stock opened at $47.99 on Friday. LATAM Airlines Group S.A. has a one year low of $26.36 and a one year high of $70.42. The stock has a fifty day moving average price of $59.05 and a 200 day moving average price of $51.45. The stock has a market cap of $14.50 billion, a P/E ratio of 9.64, a price-to-earnings-growth ratio of 0.32 and a beta of 3.89.

LATAM Airlines Group (NYSE:LTM) last announced its quarterly earnings data on Tuesday, February 3rd. The transportation company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.34. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.81 billion. LATAM Airlines Group had a net margin of 10.07% and a return on equity of 136.61%. Equities research analysts anticipate that LATAM Airlines Group S.A. will post 3.37 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LTM shares. Zacks Research upgraded LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. The Goldman Sachs Group set a $64.10 price target on LATAM Airlines Group and gave the stock a “neutral” rating in a report on Thursday, February 12th. Morgan Stanley restated an “equal weight” rating and issued a $67.00 price objective (up from $56.00) on shares of LATAM Airlines Group in a research note on Friday, February 20th. Wall Street Zen upgraded shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. Finally, Barclays reaffirmed an “overweight” rating and set a $75.00 price objective (up from $60.00) on shares of LATAM Airlines Group in a research report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $68.70.

LATAM Airlines Group Company 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.