NewEdge Advisors LLC Purchases Shares of 11,681 LATAM Airlines Group S.A. $LTM

NewEdge Advisors LLC purchased a new position in shares of LATAM Airlines Group S.A. (NYSE:LTM) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,681 shares of the transportation company’s stock, valued at approximately $578,000.

Other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its stake in shares of LATAM Airlines Group by 49.1% in the 4th quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 246 shares in the last quarter. Assetmark Inc. increased its position in LATAM Airlines Group by 684.3% during the 1st quarter. Assetmark Inc. now owns 1,302 shares of the transportation company’s stock worth $64,000 after purchasing an additional 1,136 shares in the last quarter. Leonteq Securities AG acquired a new stake in LATAM Airlines Group during the 4th quarter worth approximately $78,000. Tower Research Capital LLC TRC purchased a new position in LATAM Airlines Group in the second quarter valued at approximately $90,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in LATAM Airlines Group by 19.6% in 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 Up 3.4%

Shares of NYSE:LTM opened at $54.56 on Tuesday. The company has a market capitalization of $15.66 billion, a price-to-earnings ratio of 9.39, a price-to-earnings-growth ratio of 1.06 and a beta of 3.62. The company has a 50 day moving average of $53.65 and a two-hundred day moving average of $53.93. LATAM Airlines Group S.A. has a 52-week low of $41.41 and a 52-week high of $70.42.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LTM shares. JPMorgan Chase & Co. assumed coverage on shares of LATAM Airlines Group in a research note on Wednesday, June 3rd. They set an “overweight” rating and a $70.00 price objective for the company. Zacks Research raised shares of LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Wall Street Zen upgraded shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $72.60 price target on shares of LATAM Airlines Group in a research report on Tuesday, May 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of LATAM Airlines Group in a report on Friday, July 17th. One research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $66.27.

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.