Element Capital Management LLC Makes New Investment in LATAM Airlines Group S.A. $LTM

Element Capital Management LLC acquired a new stake in LATAM Airlines Group S.A. (NYSE:LTM) during the third quarter, HoldingsChannel.com reports. The fund acquired 28,456 shares of the transportation company’s stock, valued at approximately $1,288,000. LATAM Airlines Group accounts for about 1.8% of Element Capital Management LLC’s holdings, making the stock its 10th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership lifted its position in shares of LATAM Airlines Group by 248.4% during 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. Vanguard Group Inc. increased its holdings 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 valued at $47,033,000 after buying an additional 755,997 shares during the last quarter. Two Sigma Investments LP raised its stake in LATAM Airlines Group by 89.7% in the third quarter. Two Sigma Investments LP now owns 954,224 shares of the transportation company’s stock valued at $43,179,000 after buying an additional 451,107 shares in the last quarter. Burkehill Global Management LP acquired a new stake in LATAM Airlines Group in the third quarter valued at $42,988,000. Finally, SPX Gestao de Recursos Ltda lifted its holdings in LATAM Airlines Group by 3,884.5% during the 3rd quarter. SPX Gestao de Recursos Ltda now owns 935,321 shares of the transportation company’s stock worth $42,323,000 after buying an additional 911,847 shares during the last quarter.

LATAM Airlines Group Price Performance

NYSE LTM opened at $47.62 on Friday. The company has a fifty day moving average of $58.53 and a two-hundred day moving average of $51.54. The company has a market capitalization of $14.39 billion, a PE ratio of 9.56, a P/E/G ratio of 0.32 and a beta of 3.89. LATAM Airlines Group S.A. has a 1 year low of $26.36 and a 1 year high of $70.42.

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

Analyst Upgrades and Downgrades

LTM has been the subject of several analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $67.00 price objective (up from $56.00) on shares of LATAM Airlines Group in a research report on Friday, February 20th. The Goldman Sachs Group set a $64.10 target price on LATAM Airlines Group and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Zacks Research downgraded LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Barclays reiterated an “overweight” rating and issued a $75.00 price target (up from $60.00) on shares of LATAM Airlines Group in a research note on Thursday, February 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of LATAM Airlines Group in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $68.70.

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.