JPMorgan Chase & Co. Has $24.23 Million Stake in LATAM Airlines Group S.A. $LTM

JPMorgan Chase & Co. lifted its stake in LATAM Airlines Group S.A. (NYSE:LTM) by 79.6% in the third quarter, Holdings Channel.com reports. The firm owned 535,389 shares of the transportation company’s stock after acquiring an additional 237,363 shares during the quarter. JPMorgan Chase & Co.’s holdings in LATAM Airlines Group were worth $24,226,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Tower Research Capital LLC TRC purchased a new position in LATAM Airlines Group during the second quarter valued at approximately $90,000. Rhumbline Advisers lifted its position in LATAM Airlines Group by 113.8% in the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock worth $100,000 after buying an additional 1,700 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of LATAM Airlines Group by 392.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,924 shares of the transportation company’s stock valued at $132,000 after buying an additional 2,330 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of LATAM Airlines Group by 39.5% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,028 shares of the transportation company’s stock valued at $137,000 after buying an additional 858 shares during the period. Finally, CWM LLC grew its holdings in shares of LATAM Airlines Group by 2,004.2% during the 3rd quarter. CWM LLC now owns 3,493 shares of the transportation company’s stock valued at $158,000 after acquiring an additional 3,327 shares in the last quarter.

LATAM Airlines Group Stock Performance

Shares of LTM stock opened at $49.72 on Tuesday. The stock’s 50 day simple moving average is $57.58 and its 200 day simple moving average is $51.49. LATAM Airlines Group S.A. has a twelve month low of $26.36 and a twelve month high of $70.42. The company has a market capitalization of $15.03 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 0.32 and a beta of 3.89.

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

Wall Street Analyst Weigh In

LTM has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Thursday, January 22nd. The Goldman Sachs Group set a $64.10 price target on LATAM Airlines Group and gave the company a “neutral” rating in a report on Thursday, February 12th. Barclays restated an “overweight” rating and issued a $75.00 price objective (up from $60.00) on shares of LATAM Airlines Group in a report on Thursday, February 5th. Citigroup raised shares of LATAM Airlines Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $53.00 to $58.00 in a research report on Tuesday, March 17th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $67.00 target price (up from $56.00) on shares of LATAM Airlines Group in a research note on Friday, February 20th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $66.03.

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.