LATAM Airlines Group S.A. (NYSE:LTM) Stock Short Interest Report for September

LATAM Airlines Group S.A. (NYSE:LTM) was the recipient of a significant decline in short interest in September. As of September 30th, there was short interest totaling 2,018,982 shares, a decline of 37.0% from the September 15th total of 3,204,337 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 648,359 shares, the short-interest ratio is presently 3.1 days.

LATAM Airlines Group Stock Performance

LATAM Airlines Group stock opened at $48.52 on Friday. The stock’s 50 day moving average price is $51.35 and its 200 day moving average price is $51.97. The firm has a market capitalization of $13.93 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 1.14 and a beta of 3.64. LATAM Airlines Group has a one year low of $43.00 and a one year high of $70.42.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ninety One UK Ltd grew its holdings in LATAM Airlines Group by 36.1% during the 3rd quarter. Ninety One UK Ltd now owns 2,457,525 shares of the transportation company’s stock valued at $122,606,000 after purchasing an additional 651,218 shares in the last quarter. Ninety One North America Inc. lifted its holdings in LATAM Airlines Group by 1.6% in the 3rd quarter. Ninety One North America Inc. now owns 629,861 shares of the transportation company’s stock worth $31,424,000 after buying an additional 9,750 shares in the last quarter. Mather Group LLC. acquired a new position in LATAM Airlines Group in the 3rd quarter worth $26,000. GAMMA Investing LLC boosted its position in LATAM Airlines Group by 20.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,985 shares of the transportation company’s stock valued at $99,000 after buying an additional 338 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its position in LATAM Airlines Group by 8.7% in the 2nd quarter. QRG Capital Management Inc. now owns 9,403 shares of the transportation company’s stock valued at $548,000 after buying an additional 755 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LTM shares. Wall Street Zen downgraded shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings downgraded shares of LATAM Airlines Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, September 25th. Zacks Research lowered shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Finally, Jefferies Financial Group initiated coverage on shares of LATAM Airlines Group in a report on Thursday, June 18th. They set a “buy” rating and a $70.00 target price on the stock. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.