LATAM Airlines Group (NYSE:LTM) Sees Large Volume Increase – Here’s Why

LATAM Airlines Group S.A. (NYSE:LTM) saw unusually-high trading volume on Monday. Approximately 1,011,710 shares traded hands during trading, a decline of 0% from the average daily volume of 1,016,515 shares. The stock last traded at $41.79 and had previously closed at $46.27.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LTM shares. Weiss Ratings upgraded shares of LATAM Airlines Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday. 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. Finally, Zacks Research downgraded shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.27.

LATAM Airlines Group Stock Up 3.4%

The stock has a fifty day simple moving average of $50.31 and a 200 day simple moving average of $53.08.

LATAM Airlines Group (NYSE:LTM) last announced its quarterly 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 business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.06 billion. On average, sell-side analysts expect that LATAM Airlines Group S.A. will post 4.82 earnings per share for the current year.

Hedge Funds Weigh In On LATAM Airlines Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mather Group LLC. bought a new stake in shares of LATAM Airlines Group in the third quarter worth approximately $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 worth $64,000 after purchasing an additional 1,136 shares during the last quarter. Signaturefd LLC boosted its holdings in LATAM Airlines Group by 41.4% in the third quarter. Signaturefd LLC now owns 1,448 shares of the transportation company’s stock worth $72,000 after purchasing an additional 424 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 worth $96,000 after purchasing an additional 342 shares during the last quarter. Finally, Royal Bank of Canada grew its position in LATAM Airlines Group by 22.3% in the 1st quarter. Royal Bank of Canada now owns 3,268 shares of the transportation company’s stock worth $162,000 after purchasing an additional 596 shares during the period.

About LATAM Airlines Group

LATAM Airlines Group SA is a Chile-based airline holding company and one of the largest air transportation groups in Latin America. The group provides scheduled passenger and cargo services through affiliated airlines operating under the LATAM brand, connecting major cities within Latin America and serving destinations in North America, Europe, the Caribbean, Africa and Oceania.

Its passenger business includes domestic and international flights, while its cargo operations transport freight using dedicated aircraft and cargo capacity on passenger flights.