Ritholtz Wealth Management Buys Shares of 13,789 LATAM Airlines Group S.A. $LTM

Ritholtz Wealth Management bought a new position in LATAM Airlines Group S.A. (NYSE:LTM) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,789 shares of the transportation company’s stock, valued at approximately $682,000.

Other hedge funds have also modified their holdings of the company. Verde Servicos Internacionais S.A. bought a new stake in shares of LATAM Airlines Group in the 1st quarter valued at about $890,000. SG Americas Securities LLC purchased a new position in shares of LATAM Airlines Group in the 1st quarter worth approximately $233,000. BI Asset Management Fondsmaeglerselskab A S raised its stake 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 worth $1,936,000 after acquiring an additional 239 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of LATAM Airlines Group by 24.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,777 shares of the transportation company’s stock worth $204,000 after acquiring an additional 749 shares in the last quarter. Finally, Invesco Ltd. lifted its position in LATAM Airlines Group by 26.6% during the fourth quarter. Invesco Ltd. now owns 12,058 shares of the transportation company’s stock valued at $651,000 after acquiring an additional 2,533 shares during the last quarter.

LATAM Airlines Group Stock Down 0.3%

Shares of LATAM Airlines Group stock opened at $58.56 on Tuesday. The firm has a market capitalization of $16.81 billion, a P/E ratio of 10.08, a PEG ratio of 1.45 and a beta of 3.62. The company has a 50 day moving average price of $51.54 and a 200 day moving average price of $54.04. LATAM Airlines Group S.A. has a 52 week low of $40.28 and a 52 week high of $70.42.

LATAM Airlines Group (NYSE:LTM) last released its earnings results on Wednesday, May 6th. The transportation company reported $2.01 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $3.96 billion. As a group, research analysts anticipate that LATAM Airlines Group S.A. will post 4.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LTM. Weiss Ratings restated a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Tuesday, April 21st. Wall Street Zen raised LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 23rd. Jefferies Financial Group assumed coverage on LATAM Airlines Group in a report on Thursday, June 18th. They set a “buy” rating and a $70.00 price objective for the company. Morgan Stanley raised LATAM Airlines Group from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $61.00 to $60.00 in a research report on Thursday, March 26th. Finally, Citigroup upgraded LATAM Airlines Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $53.00 to $58.00 in a research note on Tuesday, March 17th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.27.

LATAM Airlines Group Company 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.