LATAM Airlines Group S.A. (NYSE:LTM) Short Interest Update

LATAM Airlines Group S.A. (NYSE:LTM) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 1,850,400 shares, a decline of 38.2% from the August 15th total of 2,995,971 shares. Based on an average trading volume of 914,153 shares, the short-interest ratio is currently 2.0 days. Currently, 0.7% of the company’s stock are sold short.

LATAM Airlines Group Stock Performance

Shares of LTM traded down $0.26 during midday trading on Friday, hitting $51.09. 108,950 shares of the stock were exchanged, compared to its average volume of 1,052,790. LATAM Airlines Group has a 52-week low of $41.41 and a 52-week high of $70.42. The stock has a fifty day simple moving average of $52.48 and a 200 day simple moving average of $51.78. The firm has a market cap of $14.67 billion, a P/E ratio of 9.40, a P/E/G ratio of 1.21 and a beta of 3.64.

LATAM Airlines Group (NYSE:LTM) last announced its quarterly earnings data on Tuesday, August 4th. The transportation company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.06 billion. LATAM Airlines Group had a return on equity of 101.21% and a net margin of 9.69%. As a group, equities research analysts forecast that LATAM Airlines Group will post 4.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Zacks Research lowered shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. JPMorgan Chase & Co. initiated coverage on LATAM Airlines Group in a research report on Wednesday, June 3rd. They set an “overweight” rating and a $70.00 target price on the stock. Jefferies Financial Group initiated coverage on LATAM Airlines Group in a report on Thursday, June 18th. They issued a “buy” rating and a $70.00 price objective on the stock. Wall Street Zen lowered shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of LATAM Airlines Group in a report on Friday, July 17th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.27.

Institutional Investors Weigh In On LATAM Airlines Group

A number of hedge funds have recently added to or reduced their stakes in LTM. PNC Financial Services Group Inc. lifted its stake in LATAM Airlines Group by 6.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,122 shares of the transportation company’s stock worth $169,000 after acquiring an additional 198 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted 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. GAMMA Investing LLC lifted its stake in shares of 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 buying an additional 342 shares during the last quarter. Royal Bank of Canada boosted its stake in LATAM Airlines Group by 22.3% during the 1st quarter. Royal Bank of Canada now owns 3,268 shares of the transportation company’s stock valued at $162,000 after purchasing an additional 596 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its stake in 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 valued at $204,000 after purchasing an additional 749 shares during the last quarter.

About LATAM Airlines Group

LATAM Airlines Group SA is a Chile-based airline holding company and one of the largest airline groups in Latin America. Through its operating affiliates and commercial brands, the company provides scheduled passenger and air cargo transportation on domestic and international routes.

LATAM serves markets across South America, including Chile, Brazil, Colombia, Ecuador and Peru, and connects the region with destinations in North America, Europe, Oceania and other international markets. Its passenger services include multiple travel classes and related offerings, while its cargo operations transport freight using both dedicated aircraft and passenger aircraft capacity.

The group was formed in 2012 through the merger of Chile’s LAN Airlines and Brazil’s TAM Airlines.