INCA Investments LLC Buys Shares of 807,079 LATAM Airlines Group S.A. $LTM

INCA Investments LLC bought a new stake in LATAM Airlines Group S.A. (NYSE:LTM) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 807,079 shares of the transportation company’s stock, valued at approximately $43,590,000. LATAM Airlines Group makes up approximately 15.2% of INCA Investments LLC’s holdings, making the stock its 3rd largest holding.

A number of other hedge funds also recently added to or reduced their stakes in LTM. Farther Finance Advisors LLC grew its position in shares of LATAM Airlines Group by 49.1% in the fourth quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 246 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in LATAM Airlines Group during the second quarter worth approximately $90,000. Rhumbline Advisers boosted its position in LATAM Airlines Group by 113.8% during the first quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock worth $100,000 after acquiring an additional 1,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in LATAM Airlines Group by 19.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,386 shares of the transportation company’s stock worth $129,000 after acquiring an additional 391 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in LATAM Airlines Group by 392.3% during the third quarter. PNC Financial Services Group Inc. now owns 2,924 shares of the transportation company’s stock worth $132,000 after acquiring an additional 2,330 shares during the last quarter.

LATAM Airlines Group Trading Down 1.4%

Shares of LTM stock opened at $49.00 on Wednesday. The company’s fifty day simple moving average is $50.10 and its 200-day simple moving average is $52.68. LATAM Airlines Group S.A. has a 52 week low of $34.20 and a 52 week high of $70.42. The company has a market cap of $14.07 billion, a PE ratio of 8.43, a P/E/G ratio of 1.37 and a beta of 3.62.

LATAM Airlines Group (NYSE:LTM) last issued its earnings results on Wednesday, May 6th. The transportation company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.66. LATAM Airlines Group had a net margin of 11.03% and a return on equity of 127.75%. The business had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $3.96 billion. Equities research analysts expect that LATAM Airlines Group S.A. will post 4.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LTM has been the topic of a number of analyst reports. Barclays decreased their target price on shares of LATAM Airlines Group from $75.00 to $67.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 24th. Morgan Stanley raised shares of LATAM Airlines Group from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $61.00 to $60.00 in a research note on Thursday, March 26th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $72.60 price target on shares of LATAM Airlines Group in a research note on Tuesday. Wall Street Zen downgraded shares of LATAM Airlines Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.40.

LATAM Airlines Group 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.