Ninety One UK Ltd Buys 651,218 Shares of LATAM Airlines Group S.A. $LTM

Ninety One UK Ltd grew its stake in LATAM Airlines Group S.A. (NYSE:LTM) by 36.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,457,525 shares of the transportation company’s stock after buying an additional 651,218 shares during the period. Ninety One UK Ltd’s holdings in LATAM Airlines Group were worth $122,606,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Mather Group LLC. bought a new position in shares of LATAM Airlines Group during the third quarter worth about $26,000. Assetmark Inc. boosted its holdings in LATAM Airlines Group by 684.3% in the first quarter. Assetmark Inc. now owns 1,302 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 1,136 shares during the last quarter. 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 during the last quarter. Royal Bank of Canada boosted its holdings in LATAM Airlines Group by 22.3% in the first quarter. Royal Bank of Canada now owns 3,268 shares of the transportation company’s stock valued at $162,000 after acquiring an additional 596 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in LATAM Airlines Group by 16.9% in the first quarter. PNC Financial Services Group Inc. now owns 3,649 shares of the transportation company’s stock valued at $180,000 after acquiring an additional 527 shares during the last quarter.

LATAM Airlines Group Price Performance

Shares of NYSE:LTM traded up $0.55 during mid-day trading on Thursday, hitting $47.87. The company had a trading volume of 260,884 shares, compared to its average volume of 1,023,750. The firm has a fifty day moving average price of $51.53 and a 200 day moving average price of $51.97. The company has a market capitalization of $13.74 billion, a PE ratio of 8.79, a price-to-earnings-growth ratio of 1.18 and a beta of 3.64. LATAM Airlines Group S.A. has a one year low of $43.00 and a one year high of $70.42.

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

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Weiss Ratings downgraded shares of LATAM Airlines Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, September 25th. Jefferies Financial Group assumed coverage on shares of LATAM Airlines Group in a research report on Thursday, June 18th. They issued a “buy” rating and a $70.00 price target on the stock. Wall Street Zen lowered shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Zacks Research lowered shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, LATAM Airlines Group presently has a consensus rating of “Moderate Buy” and an average target price of $66.27.

LATAM Airlines Group Company Profile

LATAM Airlines Group SA is a Chile-based airline holding company and one of the largest air transportation groups in Latin America. Through its LATAM Airlines affiliates, the group provides scheduled passenger and cargo air services to domestic and international destinations.

The company serves markets across South America, including Chile, Brazil, Colombia, Ecuador, and Peru, as well as destinations in North America, the Caribbean, Europe, and Oceania. Its operations include domestic routes within several Latin American countries, international passenger services, and air freight transportation.

LATAM Airlines Group was created in 2012 through the merger of Chile’s LAN Airlines and Brazil’s TAM Airlines.