LATAM Airlines Group S.A. $LTM Stock Sold by William Blair Investment Management LLC

William Blair Investment Management LLC reduced its position in shares of LATAM Airlines Group S.A. (NYSE:LTM) by 41.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 472,733 shares of the transportation company’s stock after selling 335,895 shares during the period. William Blair Investment Management LLC’s holdings in LATAM Airlines Group were worth $23,579,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC raised its position in shares of LATAM Airlines Group by 184.9% in the first quarter. Renaissance Technologies LLC now owns 1,267,200 shares of the transportation company’s stock valued at $62,650,000 after buying an additional 822,400 shares during the last quarter. Ninety One UK Ltd lifted its stake in shares of LATAM Airlines Group by 36.1% during the third quarter. Ninety One UK Ltd now owns 2,457,525 shares of the transportation company’s stock valued at $122,606,000 after buying an additional 651,218 shares during the period. SPX Gestao de Recursos Ltda boosted its position in LATAM Airlines Group by 168.5% during the first quarter. SPX Gestao de Recursos Ltda now owns 881,976 shares of the transportation company’s stock worth $43,605,000 after acquiring an additional 553,513 shares during the last quarter. Navi International Administradora e Gestora de Recursos Financeiros Ltda. boosted its position in LATAM Airlines Group by 1,478.6% during the second quarter. Navi International Administradora e Gestora de Recursos Financeiros Ltda. now owns 326,007 shares of the transportation company’s stock worth $18,996,000 after acquiring an additional 305,355 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in LATAM Airlines Group by 641.9% during the first quarter. Bank of America Corp DE now owns 346,402 shares of the transportation company’s stock worth $17,126,000 after acquiring an additional 299,710 shares during the last quarter.

Analyst Ratings Changes

LTM has been the subject of several recent analyst reports. Zacks Research cut shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Wall Street Zen lowered LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings raised LATAM Airlines Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, October 26th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, LATAM Airlines Group presently has an average rating of “Moderate Buy” and a consensus price target of $66.27.

LATAM Airlines Group Price Performance

NYSE:LTM traded down $0.04 during mid-day trading on Friday, reaching $47.37. The company’s stock had a trading volume of 608,494 shares, compared to its average volume of 1,103,818. The company’s fifty day simple moving average is $49.04 and its two-hundred day simple moving average is $52.19. LATAM Airlines Group S.A. has a twelve month low of $41.44 and a twelve month high of $70.42. The stock has a market cap of $13.60 billion, a P/E ratio of 8.34, a P/E/G ratio of 1.13 and a beta of 3.87.

LATAM Airlines Group (NYSE:LTM) last posted its quarterly earnings results on Tuesday, November 3rd. The transportation company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.21 by $0.23. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.54 billion. LATAM Airlines Group had a return on equity of 87.90% and a net margin of 9.65%. Sell-side analysts expect that LATAM Airlines Group S.A. will post 4.99 EPS for the current fiscal year.

LATAM Airlines Group Profile

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.