SPX Gestao de Recursos Ltda Has $43.60 Million Holdings in LATAM Airlines Group S.A. $LTM

SPX Gestao de Recursos Ltda grew its stake in shares of LATAM Airlines Group S.A. (NYSE:LTM) by 168.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 881,976 shares of the transportation company’s stock after acquiring an additional 553,513 shares during the period. LATAM Airlines Group comprises 3.6% of SPX Gestao de Recursos Ltda’s portfolio, making the stock its 9th biggest holding. SPX Gestao de Recursos Ltda’s holdings in LATAM Airlines Group were worth $43,605,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 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 purchasing an additional 198 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of LATAM Airlines Group by 3.6% in the fourth quarter. Blue Trust Inc. now owns 6,226 shares of the transportation company’s stock worth $336,000 after purchasing an additional 219 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of LATAM Airlines Group by 0.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 39,161 shares of the transportation company’s stock worth $1,936,000 after purchasing an additional 239 shares during the period. Farther Finance Advisors LLC raised its position in shares of LATAM Airlines Group by 49.1% in the fourth quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company’s stock worth $40,000 after buying an additional 246 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in LATAM Airlines Group by 19.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,386 shares of the transportation company’s stock valued at $129,000 after buying an additional 391 shares during the period.

LATAM Airlines Group Stock Performance

LTM stock opened at $52.56 on Friday. The firm has a market cap of $15.09 billion, a P/E ratio of 9.05, a P/E/G ratio of 1.06 and a beta of 3.61. The firm’s fifty day moving average is $52.92 and its 200 day moving average is $54.23. LATAM Airlines Group S.A. has a 52 week low of $40.52 and a 52 week high of $70.42.

LATAM Airlines Group (NYSE:LTM) last posted its quarterly earnings results on Wednesday, May 6th. The transportation company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.66. The business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $3.96 billion. LATAM Airlines Group had a net margin of 11.03% and a return on equity of 127.75%. As a group, analysts forecast that LATAM Airlines Group S.A. will post 5.95 EPS for the current year.

Wall Street Analyst Weigh In

LTM has been the topic of a number of research analyst reports. The Goldman Sachs Group restated a “buy” rating and issued a $72.60 target price on shares of LATAM Airlines Group in a research note on Tuesday, May 12th. Weiss Ratings reissued a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Tuesday, April 21st. Barclays decreased their price target on shares of LATAM Airlines Group from $75.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, March 24th. Morgan Stanley raised shares of LATAM Airlines Group from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $61.00 to $60.00 in a report on Thursday, March 26th. Finally, JPMorgan Chase & Co. began coverage on shares of LATAM Airlines Group in a research report on Wednesday, June 3rd. They issued an “overweight” rating and a $70.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $66.27.

LATAM Airlines Group Company 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.