Schwab Charles Investment Management Inc. lowered its holdings in shares of LATAM Airlines Group SA (NYSE:LTM) by 19.8% in the 2nd quarter, Holdings Channel reports. The fund owned 334,488 shares of the transportation company’s stock after selling 82,592 shares during the period. Schwab Charles Investment Management Inc.’s holdings in LATAM Airlines Group were worth $3,309,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. A.R.T. Advisors LLC bought a new position in LATAM Airlines Group during the first quarter worth $520,000. KBC Group NV raised its stake in LATAM Airlines Group by 38.3% during the second quarter. KBC Group NV now owns 72,995 shares of the transportation company’s stock worth $722,000 after buying an additional 20,229 shares during the last quarter. UBS Group AG raised its stake in LATAM Airlines Group by 82.1% during the first quarter. UBS Group AG now owns 51,283 shares of the transportation company’s stock worth $789,000 after buying an additional 23,125 shares during the last quarter. CIBC World Markets Inc. bought a new position in LATAM Airlines Group during the first quarter worth $851,000. Finally, Banco de Sabadell S.A bought a new position in LATAM Airlines Group during the first quarter worth $1,004,000. 2.39% of the stock is owned by hedge funds and other institutional investors.
LTM opened at $9.63 on Monday. LATAM Airlines Group SA has a 1-year low of $8.41 and a 1-year high of $17.39. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 37.04 and a beta of 1.88.
LATAM Airlines Group (NYSE:LTM) last posted its quarterly earnings results on Monday, August 20th. The transportation company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.06). LATAM Airlines Group had a net margin of 2.27% and a return on equity of 5.45%. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.46 billion. On average, equities research analysts predict that LATAM Airlines Group SA will post 0.36 EPS for the current year.
A number of equities analysts recently weighed in on LTM shares. Zacks Investment Research downgraded shares of LATAM Airlines Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Goldman Sachs Group started coverage on shares of LATAM Airlines Group in a research note on Monday, July 16th. They set a “neutral” rating and a $12.00 target price for the company. Finally, ValuEngine raised shares of LATAM Airlines Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 29th. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. LATAM Airlines Group has an average rating of “Sell” and a consensus price target of $15.00.
About LATAM Airlines Group
LATAM Airlines Group SA, together with its subsidiaries, provides passenger and cargo air transportation services in Peru, Argentina, the United States, Colombia, Brazil, Ecuador, Chile, rest of Latin America, Europe, and the Asia Pacific. The company operates in two segments, Air Transportation; and Coalition and Loyalty Program Multiplus.
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