BlueCrest Capital Management Ltd Acquires New Shares in LATAM Airlines Group S.A. $LTM

BlueCrest Capital Management Ltd bought a new position in LATAM Airlines Group S.A. (NYSE:LTM) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 50,000 shares of the transportation company’s stock, valued at approximately $2,262,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its holdings in shares of LATAM Airlines Group by 248.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,484,669 shares of the transportation company’s stock valued at $67,181,000 after acquiring an additional 1,058,554 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of LATAM Airlines Group by 266.7% during the third quarter. Vanguard Group Inc. now owns 1,039,414 shares of the transportation company’s stock valued at $47,033,000 after purchasing an additional 755,997 shares during the last quarter. Two Sigma Investments LP lifted its position in LATAM Airlines Group by 89.7% during the third quarter. Two Sigma Investments LP now owns 954,224 shares of the transportation company’s stock valued at $43,179,000 after purchasing an additional 451,107 shares during the period. Burkehill Global Management LP bought a new position in LATAM Airlines Group during the third quarter valued at approximately $42,988,000. Finally, SPX Gestao de Recursos Ltda boosted its holdings in LATAM Airlines Group by 3,884.5% in the third quarter. SPX Gestao de Recursos Ltda now owns 935,321 shares of the transportation company’s stock worth $42,323,000 after purchasing an additional 911,847 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have commented on LTM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Thursday, January 22nd. Morgan Stanley reissued an “equal weight” rating and set a $67.00 price target (up from $56.00) on shares of LATAM Airlines Group in a report on Friday, February 20th. Barclays restated an “overweight” rating and issued a $75.00 price target (up from $60.00) on shares of LATAM Airlines Group in a research note on Thursday, February 5th. Citigroup raised LATAM Airlines Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $53.00 to $58.00 in a report on Tuesday. Finally, The Goldman Sachs Group set a $64.10 target price on LATAM Airlines Group and gave the company a “neutral” rating in a report on Thursday, February 12th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $66.03.

LATAM Airlines Group Trading Up 1.3%

Shares of NYSE LTM opened at $50.13 on Wednesday. LATAM Airlines Group S.A. has a 12-month low of $26.36 and a 12-month high of $70.42. The firm has a market capitalization of $15.15 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 0.33 and a beta of 3.89. The firm has a 50 day moving average of $58.26 and a 200 day moving average of $51.55.

LATAM Airlines Group (NYSE:LTM) last released 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 business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.81 billion. LATAM Airlines Group had a net margin of 10.07% and a return on equity of 136.61%. Sell-side analysts predict that LATAM Airlines Group S.A. will post 3.37 EPS for the current year.

About LATAM Airlines Group

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.