Lazard Asset Management LLC Decreases Stock Holdings in LATAM Airlines Group S.A. $LTM

Lazard Asset Management LLC decreased its stake in shares of LATAM Airlines Group S.A. (NYSE:LTM) by 35.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,589 shares of the transportation company’s stock after selling 11,271 shares during the period. Lazard Asset Management LLC’s holdings in LATAM Airlines Group were worth $1,018,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LTM. PNC Financial Services Group Inc. grew its position in LATAM Airlines Group by 6.8% in the 4th 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. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of LATAM Airlines Group by 0.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 39,161 shares of the transportation company’s stock valued at $1,936,000 after buying an additional 239 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of LATAM Airlines Group by 49.1% during the 4th quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company’s stock valued at $40,000 after buying an additional 246 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of LATAM Airlines Group by 19.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,386 shares of the transportation company’s stock worth $129,000 after buying an additional 391 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of LATAM Airlines Group by 24.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,777 shares of the transportation company’s stock worth $204,000 after buying an additional 749 shares during the last quarter.

Wall Street Analyst Weigh In

LTM has been the subject of several research analyst reports. Jefferies Financial Group began coverage on LATAM Airlines Group in a report on Thursday, June 18th. They issued a “buy” rating and a $70.00 price objective for the company. The Goldman Sachs Group reissued a “buy” rating and issued a $72.60 target price on shares of LATAM Airlines Group in a research report on Tuesday, May 12th. JPMorgan Chase & Co. began coverage on shares of LATAM Airlines Group in a report on Wednesday, June 3rd. They issued an “overweight” rating and a $70.00 price objective on the stock. Zacks Research upgraded shares of LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen upgraded shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 23rd. One 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $66.27.

LATAM Airlines Group Trading Up 3.6%

LATAM Airlines Group stock opened at $57.65 on Thursday. LATAM Airlines Group S.A. has a 12-month low of $41.41 and a 12-month high of $70.42. The firm has a market capitalization of $16.55 billion, a price-to-earnings ratio of 10.60, a P/E/G ratio of 1.12 and a beta of 3.62. The firm has a 50 day moving average of $53.80 and a 200 day moving average of $53.91.

LATAM Airlines Group (NYSE:LTM) last posted its quarterly earnings results on Tuesday, August 4th. The transportation company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.17. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.06 billion. LATAM Airlines Group had a net margin of 9.69% and a return on equity of 110.50%. On average, analysts predict that LATAM Airlines Group S.A. will post 5.95 EPS for the current year.

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.