LATAM Airlines Group (NYSE:LTM) Sees Large Volume Increase – Still a Buy?

LATAM Airlines Group S.A. (NYSE:LTM) saw unusually-high trading volume on Monday. Approximately 1,011,710 shares traded hands during mid-day trading, a decline of 0% from the previous session’s volume of 1,016,515 shares. The stock last traded at $41.79 and had previously closed at $46.27.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Wall Street Zen cut shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings lowered shares of LATAM Airlines Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 25th. Finally, Zacks Research lowered shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.27.

LATAM Airlines Group Stock Performance

The business has a 50 day moving average of $50.64 and a two-hundred day moving average of $51.91. The stock has a market capitalization of $12.25 billion, a PE ratio of 7.83, a PEG ratio of 1.15 and a beta of 3.64.

LATAM Airlines Group (NYSE:LTM) last posted its earnings results on Tuesday, August 4th. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.06 billion. LATAM Airlines Group had a return on equity of 101.21% and a net margin of 9.69%. On average, equities analysts expect that LATAM Airlines Group S.A. will post 4.82 EPS for the current fiscal year.

Institutional Trading of LATAM Airlines Group

Institutional investors have recently modified their holdings of the company. Ninety One UK Ltd grew its position in shares of LATAM Airlines Group by 36.1% in the 3rd quarter. Ninety One UK Ltd now owns 2,457,525 shares of the transportation company’s stock worth $122,606,000 after buying an additional 651,218 shares during the last quarter. Renaissance Technologies LLC lifted its position in LATAM Airlines Group by 184.9% during the first quarter. Renaissance Technologies LLC now owns 1,267,200 shares of the transportation company’s stock valued at $62,650,000 after acquiring an additional 822,400 shares during the last quarter. SPX Gestao de Recursos Ltda lifted its position in LATAM Airlines Group by 168.5% during the first quarter. SPX Gestao de Recursos Ltda now owns 881,976 shares of the transportation company’s stock valued at $43,605,000 after acquiring an additional 553,513 shares during the last quarter. Ninety One North America Inc. lifted its position in LATAM Airlines Group by 1.6% during the third quarter. Ninety One North America Inc. now owns 629,861 shares of the transportation company’s stock valued at $31,424,000 after acquiring an additional 9,750 shares during the last quarter. Finally, Navi International Administradora e Gestora de Recursos Financeiros Ltda. boosted its stake in LATAM Airlines Group by 1,478.6% in the second 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.

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.