Heights Capital Management Inc. Buys New Stake in LATAM Airlines Group S.A. $LTM

Heights Capital Management Inc. bought a new stake in LATAM Airlines Group S.A. (NYSE:LTM) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 50,000 shares of the transportation company’s stock, valued at approximately $2,262,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC acquired a new position in shares of LATAM Airlines Group during the second quarter worth $90,000. Rhumbline Advisers lifted its holdings in shares of LATAM Airlines Group by 113.8% during the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock valued at $100,000 after purchasing an additional 1,700 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of LATAM Airlines Group by 392.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,924 shares of the transportation company’s stock worth $132,000 after purchasing an additional 2,330 shares in the last quarter. CWM LLC grew its stake in LATAM Airlines Group by 2,004.2% during the 3rd quarter. CWM LLC now owns 3,493 shares of the transportation company’s stock worth $158,000 after buying an additional 3,327 shares during the last quarter. Finally, Raiffeisen Bank International AG purchased a new position in LATAM Airlines Group during the 2nd quarter worth $185,000.

Analysts Set New Price Targets

LTM has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Thursday, January 22nd. Barclays restated an “overweight” rating and set a $75.00 price target (up from $60.00) on shares of LATAM Airlines Group in a research note on Thursday, February 5th. Wall Street Zen raised shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. 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. Finally, Citigroup raised shares of 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 report on Tuesday. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, LATAM Airlines Group presently has a consensus rating of “Hold” and an average target price of $66.03.

LATAM Airlines Group Price Performance

Shares of LTM stock opened at $50.13 on Wednesday. The business has a fifty day moving average of $58.26 and a 200 day moving average of $51.55. LATAM Airlines Group S.A. has a 1 year low of $26.36 and a 1 year high of $70.42. The firm has a market capitalization of $15.15 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 0.33 and a beta of 3.89.

LATAM Airlines Group (NYSE:LTM) last posted its quarterly earnings results on Tuesday, February 3rd. The transportation company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.34. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.81 billion. LATAM Airlines Group had a return on equity of 136.61% and a net margin of 10.07%. As a group, equities research analysts expect that LATAM Airlines Group S.A. will post 3.37 earnings per share for the current year.

LATAM Airlines Group 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.