BlueCrest Capital Management Ltd Acquires Shares of 50,000 LATAM Airlines Group S.A. $LTM

BlueCrest Capital Management Ltd acquired a new position in shares of LATAM Airlines Group S.A. (NYSE:LTM) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 50,000 shares of the transportation company’s stock, valued at approximately $2,262,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Tower Research Capital LLC TRC bought a new position in shares of LATAM Airlines Group during the second quarter worth about $90,000. PNC Financial Services Group Inc. increased its holdings in LATAM Airlines Group by 392.3% in the third quarter. PNC Financial Services Group Inc. now owns 2,924 shares of the transportation company’s stock valued at $132,000 after buying an additional 2,330 shares during the last quarter. Rhumbline Advisers increased its holdings in LATAM Airlines Group by 113.8% in the first 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. CWM LLC raised its stake in LATAM Airlines Group by 2,004.2% during the third quarter. CWM LLC now owns 3,493 shares of the transportation company’s stock valued at $158,000 after buying an additional 3,327 shares in the last quarter. Finally, Optivise Advisory Services LLC acquired a new stake in LATAM Airlines Group during the third quarter valued at approximately $200,000.

LATAM Airlines Group Trading Up 1.2%

Shares of LATAM Airlines Group stock opened at $47.62 on Friday. The business’s 50 day simple moving average is $58.53 and its 200-day simple moving average is $51.54. The stock has a market capitalization of $14.39 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 0.32 and a beta of 3.89. LATAM Airlines Group S.A. has a twelve month low of $26.36 and a twelve month high of $70.42.

LATAM Airlines Group (NYSE:LTM) last released 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 business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.81 billion. LATAM Airlines Group had a return on equity of 136.61% and a net margin of 10.07%. Sell-side analysts predict that LATAM Airlines Group S.A. will post 3.37 earnings per share for the current year.

Analyst Ratings Changes

LTM has been the subject of several research reports. Morgan Stanley reiterated an “equal weight” rating and issued a $67.00 target price (up from $56.00) on shares of LATAM Airlines Group in a research report on Friday, February 20th. Barclays reissued an “overweight” rating and set a $75.00 price target (up from $60.00) on shares of LATAM Airlines Group in a research report on Thursday, February 5th. The Goldman Sachs Group set a $64.10 price objective on shares of LATAM Airlines Group and gave the stock a “neutral” rating in a report on Thursday, February 12th. Zacks Research cut shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Finally, 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. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $68.70.

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.