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

LATAM Airlines Group S.A. (NYSE:LTM) saw a significant decline in short interest in August. As of August 31st, there was short interest totaling 1,850,400 shares, a decline of 38.2% from the August 15th total of 2,995,971 shares. Approximately 0.7% of the shares of the stock are short sold. Based on an average trading volume of 914,153 shares, the short-interest ratio is currently 2.0 days.

Analysts Set New Price Targets

Several research firms have issued reports on LTM. JPMorgan Chase & Co. started coverage on shares of LATAM Airlines Group in a research note on Wednesday, June 3rd. They issued an “overweight” rating and a $70.00 target price on the stock. Jefferies Financial Group started coverage on shares of LATAM Airlines Group in a research report on Thursday, June 18th. They set a “buy” rating and a $70.00 price target for the company. Wall Street Zen cut shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 8th. Zacks Research cut shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Friday, July 17th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, LATAM Airlines Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.27.

LATAM Airlines Group Trading Up 0.2%

Shares of NYSE LTM traded up $0.11 during midday trading on Wednesday, hitting $50.51. 294,152 shares of the company’s stock were exchanged, compared to its average volume of 1,058,222. LATAM Airlines Group has a 12-month low of $41.41 and a 12-month high of $70.42. The company has a market cap of $14.50 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 1.23 and a beta of 3.64. The business’s fifty day moving average price is $52.68 and its two-hundred day moving average price is $51.87.

LATAM Airlines Group (NYSE:LTM) last posted its quarterly earnings data on Tuesday, August 4th. The transportation company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.03. The company had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.06 billion. LATAM Airlines Group had a net margin of 9.69% and a return on equity of 101.21%. Equities analysts expect that LATAM Airlines Group will post 4.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LATAM Airlines Group

A number of institutional investors have recently made changes to their positions in LTM. WINTON GROUP Ltd bought a new stake in shares of LATAM Airlines Group during the 2nd quarter worth $344,000. Nykredit A S bought a new stake in LATAM Airlines Group in the second quarter valued at approximately $446,000. Navi International Administradora e Gestora de Recursos Financeiros Ltda. increased its position in shares of LATAM Airlines Group by 1,478.6% in the second quarter. Navi International Administradora e Gestora de Recursos Financeiros Ltda. now owns 326,007 shares of the transportation company’s stock valued at $18,996,000 after acquiring an additional 305,355 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in LATAM Airlines Group in the 2nd quarter worth approximately $570,000. Finally, GAMMA Investing LLC boosted its holdings in LATAM Airlines Group by 26.2% in the second quarter. GAMMA Investing LLC now owns 1,647 shares of the transportation company’s stock valued at $96,000 after acquiring an additional 342 shares in the last quarter.

LATAM Airlines Group Company Profile

LATAM Airlines Group SA is a Chile-based airline holding company and one of the largest airline groups in Latin America. Through its operating affiliates and commercial brands, the company provides scheduled passenger and air cargo transportation on domestic and international routes.

LATAM serves markets across South America, including Chile, Brazil, Colombia, Ecuador and Peru, and connects the region with destinations in North America, Europe, Oceania and other international markets. Its passenger services include multiple travel classes and related offerings, while its cargo operations transport freight using both dedicated aircraft and passenger aircraft capacity.

The group was formed in 2012 through the merger of Chile’s LAN Airlines and Brazil’s TAM Airlines.