LATAM Airlines Group S.A. (NYSE:LTM) Short Interest Update

by · The Cerbat Gem

LATAM Airlines Group S.A. (NYSE:LTM – Get Free Report) was the recipient of a large decrease in short interest in July. As of July 15th, there was short interest totaling 1,797,135 shares, a decrease of 47.2% from the June 30th total of 3,406,814 shares. Based on an average daily volume of 762,741 shares, the short-interest ratio is presently 2.4 days. Approximately 0.7% of the company’s stock are short sold.

LATAM Airlines Group Stock Down 2.8%

Shares of NYSE:LTM traded down $1.48 during trading on Wednesday, hitting $52.05. 916,528 shares of the company traded hands, compared to its average volume of 1,125,716. The business’s fifty day moving average is $53.40 and its 200-day moving average is $54.05. The stock has a market capitalization of $14.94 billion, a price-to-earnings ratio of 8.96, a PEG ratio of 1.05 and a beta of 3.61. LATAM Airlines Group has a one year low of $41.41 and a one year high of $70.42.

LATAM Airlines Group (NYSE:LTM – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The transportation company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.66. LATAM Airlines Group had a return on equity of 127.75% and a net margin of 11.03%.The business had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $3.96 billion. On average, analysts forecast that LATAM Airlines Group will post 5.95 EPS for the current year.

Institutional Investors Weigh In On LATAM Airlines Group

Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings in LATAM Airlines Group by 6.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,122 shares of the transportation company’s stock worth $169,000 after purchasing an additional 198 shares during the period. Blue Trust Inc. increased its stake in shares of LATAM Airlines Group by 3.6% during the fourth quarter. Blue Trust Inc. now owns 6,226 shares of the transportation company’s stock valued at $336,000 after acquiring an additional 219 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its position in LATAM Airlines Group by 0.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 39,161 shares of the transportation company’s stock worth $1,936,000 after purchasing an additional 239 shares during the period. Farther Finance Advisors LLC lifted its position in LATAM Airlines Group by 49.1% in the fourth quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company’s stock worth $40,000 after purchasing an additional 246 shares during the period. Finally, GAMMA Investing LLC boosted its stake in LATAM Airlines Group by 26.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,647 shares of the transportation company’s stock valued at $96,000 after purchasing an additional 342 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LTM. The Goldman Sachs Group reiterated a “buy” rating and issued a $72.60 target price on shares of LATAM Airlines Group in a research note on Tuesday, May 12th. Weiss Ratings reissued a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Friday, July 17th. Zacks Research upgraded shares of LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. initiated coverage on shares of LATAM Airlines Group in a research note on Wednesday, June 3rd. They set an “overweight” rating and a $70.00 price objective on the stock. Finally, Wall Street Zen upgraded LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $66.27.

Check Out Our Latest Stock Report on LTM

About LATAM Airlines Group

(Get Free Report)

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.

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