Renaissance Technologies LLC Has $62.65 Million Stock Position in LATAM Airlines Group S.A. $LTM

Renaissance Technologies LLC increased its stake in shares of LATAM Airlines Group S.A. (NYSE:LTM) by 184.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,267,200 shares of the transportation company’s stock after acquiring an additional 822,400 shares during the period. Renaissance Technologies LLC’s holdings in LATAM Airlines Group were worth $62,650,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of LTM. Pictet Asset Management Holding SA acquired a new stake in shares of LATAM Airlines Group in the 4th quarter valued at approximately $5,822,000. UBS Group AG raised its position in LATAM Airlines Group by 8.1% during the fourth quarter. UBS Group AG now owns 610,678 shares of the transportation company’s stock worth $32,983,000 after acquiring an additional 45,607 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in LATAM Airlines Group by 87.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,018,218 shares of the transportation company’s stock worth $54,994,000 after acquiring an additional 474,593 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in LATAM Airlines Group in the third quarter valued at $3,662,000. Finally, Fundamenta Capital S.A. bought a new position in shares of LATAM Airlines Group in the 4th quarter valued at about $14,987,000.

LATAM Airlines Group Trading Up 0.1%

NYSE:LTM opened at $50.19 on Monday. The stock has a 50 day simple moving average of $53.15 and a 200 day simple moving average of $54.10. The stock has a market cap of $14.41 billion, a P/E ratio of 8.64, a PEG ratio of 1.01 and a beta of 3.61. LATAM Airlines Group S.A. has a 1-year low of $41.08 and a 1-year high of $70.42.

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

Analyst Ratings Changes

Several research firms have recently weighed in on LTM. Wall Street Zen upgraded shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 23rd. Zacks Research upgraded LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Jefferies Financial Group began coverage on LATAM Airlines Group in a report on Thursday, June 18th. They set a “buy” rating and a $70.00 target price on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $72.60 price target on shares of LATAM Airlines Group in a report on Tuesday, May 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average 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.