Verde Servicos Internacionais S.A. Acquires New Holdings in LATAM Airlines Group S.A. $LTM

Verde Servicos Internacionais S.A. bought a new position in shares of LATAM Airlines Group S.A. (NYSE:LTM) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,000 shares of the transportation company’s stock, valued at approximately $890,000.

Other hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in shares of LATAM Airlines Group by 6.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,122 shares of the transportation company’s stock valued at $169,000 after buying an additional 198 shares during the period. Blue Trust Inc. raised its holdings in shares of LATAM Airlines Group by 3.6% during the fourth quarter. Blue Trust Inc. now owns 6,226 shares of the transportation company’s stock worth $336,000 after acquiring an additional 219 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of LATAM Airlines Group by 0.6% during 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 acquiring an additional 239 shares during the period. Farther Finance Advisors LLC lifted its position in 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 acquiring an additional 246 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in LATAM Airlines Group by 19.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,386 shares of the transportation company’s stock valued at $129,000 after acquiring an additional 391 shares in the last quarter.

LATAM Airlines Group Trading Up 0.0%

LATAM Airlines Group stock opened at $55.75 on Wednesday. LATAM Airlines Group S.A. has a 1-year low of $38.30 and a 1-year high of $70.42. The company has a fifty day simple moving average of $51.18 and a 200 day simple moving average of $53.85. The company has a market cap of $16.01 billion, a P/E ratio of 9.60, a price-to-earnings-growth ratio of 1.38 and a beta of 3.62.

LATAM Airlines Group (NYSE:LTM) last issued its quarterly earnings results on Wednesday, May 6th. The transportation company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.35 by $0.66. LATAM Airlines Group had a net margin of 11.03% and a return on equity of 127.75%. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $3.96 billion. On average, equities research analysts forecast that LATAM Airlines Group S.A. will post 4.82 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LTM. JPMorgan Chase & Co. began coverage on shares of LATAM Airlines Group in a research note on Wednesday, June 3rd. They issued an “overweight” rating and a $70.00 target price for the company. Zacks Research raised LATAM Airlines Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Citigroup raised LATAM Airlines Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $53.00 to $58.00 in a research report on Tuesday, March 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of LATAM Airlines Group in a report on Tuesday, April 21st. Finally, Jefferies Financial Group initiated coverage on LATAM Airlines Group in a research report on Thursday, June 18th. They issued a “buy” rating and a $70.00 target price on the stock. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, LATAM Airlines Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.27.

About LATAM Airlines Group

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.