LATAM Airlines Group S.A. (NYSE:LTM) Sees Large Increase in Short Interest

LATAM Airlines Group S.A. (NYSE:LTM) was the recipient of a significant growth in short interest in February. As of February 27th, there was short interest totaling 2,502,873 shares, a growth of 14.4% from the February 12th total of 2,188,465 shares. Based on an average daily volume of 1,465,359 shares, the short-interest ratio is currently 1.7 days. Currently, 0.9% of the company’s shares are sold short. Currently, 0.9% of the company’s shares are sold short. Based on an average daily volume of 1,465,359 shares, the short-interest ratio is currently 1.7 days.

LATAM Airlines Group Price Performance

NYSE:LTM traded up $0.62 during trading hours on Tuesday, reaching $50.13. 1,038,975 shares of the stock were exchanged, compared to its average volume of 1,552,801. The stock has a market cap of $15.15 billion, a PE ratio of 10.07, a PEG ratio of 0.32 and a beta of 3.89. LATAM Airlines Group has a twelve month low of $26.36 and a twelve month high of $70.42. The firm has a 50 day moving average of $58.39 and a 200 day moving average of $51.55.

LATAM Airlines Group (NYSE:LTM) last released its earnings results 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. 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 the consensus estimate of $3.81 billion. Equities research analysts anticipate that LATAM Airlines Group will post 3.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LTM. The Goldman Sachs Group set a $64.10 price target on shares of LATAM Airlines Group and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Morgan Stanley reiterated an “equal weight” rating and set a $67.00 target price (up from $56.00) on shares of LATAM Airlines Group in a report on Friday, February 20th. Citigroup raised LATAM Airlines Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $53.00 to $58.00 in a research note on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of LATAM Airlines Group in a report on Thursday, January 22nd. Finally, Wall Street Zen raised LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. Two research analysts have 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 stock currently has an average rating of “Hold” and an average price target of $66.03.

Hedge Funds Weigh In On LATAM Airlines Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. acquired a new position in LATAM Airlines Group during the fourth quarter valued at approximately $83,266,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of LATAM Airlines Group by 248.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,484,669 shares of the transportation company’s stock valued at $67,181,000 after purchasing an additional 1,058,554 shares in the last quarter. Burkehill Global Management LP bought a new position in shares of LATAM Airlines Group in the 3rd quarter valued at $42,988,000. SPX Gestao de Recursos Ltda increased its stake in shares of LATAM Airlines Group by 3,884.5% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 935,321 shares of the transportation company’s stock valued at $42,323,000 after purchasing an additional 911,847 shares during the last quarter. Finally, Zimmer Partners LP acquired a new position in shares of LATAM Airlines Group during the 3rd quarter worth $37,331,000.

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.