LATAM Airlines Group (NYSE:LTM) Stock Crosses Above Fifty Day Moving Average – Here’s Why

Shares of LATAM Airlines Group S.A. (NYSE:LTM) crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $49.21 and traded as high as $51.00. LATAM Airlines Group shares last traded at $50.4710, with a volume of 1,489,463 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have commented on LTM. Zacks Research lowered shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. 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 upgraded shares of LATAM Airlines Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, October 26th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $66.27.

LATAM Airlines Group Stock Down 1.5%

The stock has a fifty day moving average of $49.21 and a 200-day moving average of $52.37. The firm has a market capitalization of $14.13 billion, a P/E ratio of 8.74, a PEG ratio of 1.19 and a beta of 3.87.

LATAM Airlines Group (NYSE:LTM) last issued its quarterly earnings data on Tuesday, November 3rd. The transportation company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.23. LATAM Airlines Group had a net margin of 9.65% and a return on equity of 87.90%. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.54 billion. As a group, analysts forecast that LATAM Airlines Group S.A. will post 4.99 EPS for the current fiscal year.

Institutional Trading of LATAM Airlines Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mather Group LLC. bought a new position in LATAM Airlines Group in the 3rd quarter worth approximately $26,000. Assetmark Inc. increased its stake in shares of LATAM Airlines Group by 684.3% in the 1st quarter. Assetmark Inc. now owns 1,302 shares of the transportation company’s stock valued at $64,000 after buying an additional 1,136 shares during the period. Signaturefd LLC increased its stake in shares of LATAM Airlines Group by 41.4% in the 3rd quarter. Signaturefd LLC now owns 1,448 shares of the transportation company’s stock valued at $72,000 after buying an additional 424 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of LATAM Airlines Group in the 3rd quarter valued at $81,000. Finally, GAMMA Investing LLC raised its position in shares of LATAM Airlines Group by 26.2% during the second quarter. GAMMA Investing LLC now owns 1,647 shares of the transportation company’s stock worth $96,000 after acquiring an additional 342 shares during the last quarter.

About LATAM Airlines Group

LATAM Airlines Group is a Chile-based airline group that provides passenger and air cargo transportation in Latin America and other international markets. Its passenger operations connect major cities across the region with destinations in North America, Europe and Oceania. The group operates airlines in several Latin American countries, including Brazil, Chile, Colombia, Ecuador and Peru. Its services include domestic and international passenger flights, along with cargo transportation through its cargo businesses.