LATAM Airlines Group S.A. (NYSE:LTM) Sees Significant Decrease in Short Interest

LATAM Airlines Group S.A. (NYSE:LTM) was the target of a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 2,287,144 shares, a decline of 18.2% from the January 15th total of 2,794,378 shares. Based on an average daily volume of 1,025,941 shares, the short-interest ratio is presently 2.2 days. Approximately 0.8% of the company’s shares are sold short. Approximately 0.8% of the company’s shares are sold short. Based on an average daily volume of 1,025,941 shares, the short-interest ratio is presently 2.2 days.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LTM shares. Wall Street Zen upgraded LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. Zacks Research raised shares of LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. Barclays restated an “overweight” rating and set a $75.00 price objective (up previously from $60.00) on shares of LATAM Airlines Group in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Thursday, January 22nd. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.55.

LATAM Airlines Group Price Performance

LTM stock traded down $1.60 during midday trading on Monday, hitting $59.63. The company’s stock had a trading volume of 1,718,594 shares, compared to its average volume of 1,798,008. The company’s fifty day moving average price is $58.52 and its 200 day moving average price is $50.40. LATAM Airlines Group has a twelve month low of $26.36 and a twelve month high of $70.42. The stock has a market capitalization of $18.02 billion, a P/E ratio of 11.97, a PEG ratio of 0.40 and a beta of 3.88.

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

Hedge Funds Weigh In On LATAM Airlines Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in LATAM Airlines Group by 49.1% during the fourth quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company’s stock worth $40,000 after acquiring an additional 246 shares in the last quarter. Leonteq Securities AG bought a new stake in shares of LATAM Airlines Group during the 4th quarter valued at approximately $78,000. Caitong International Asset Management Co. Ltd increased its position in LATAM Airlines Group by 761.1% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the transportation company’s stock worth $88,000 after purchasing an additional 1,918 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in LATAM Airlines Group during the 2nd quarter worth approximately $90,000. Finally, Rhumbline Advisers lifted its stake in LATAM Airlines Group by 113.8% in the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock valued at $100,000 after purchasing an additional 1,700 shares during the last quarter.

LATAM Airlines Group Company 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.