Element Capital Management LLC Invests $1.29 Million in LATAM Airlines Group S.A. $LTM

Element Capital Management LLC acquired a new position in shares of LATAM Airlines Group S.A. (NYSE:LTM) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 28,456 shares of the transportation company’s stock, valued at approximately $1,288,000. LATAM Airlines Group accounts for approximately 1.8% of Element Capital Management LLC’s investment portfolio, making the stock its 10th largest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new position in LATAM Airlines Group during the second quarter worth $90,000. Rhumbline Advisers boosted its position in shares of LATAM Airlines Group by 113.8% during the first quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock worth $100,000 after buying an additional 1,700 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of LATAM Airlines Group by 392.3% during the third quarter. PNC Financial Services Group Inc. now owns 2,924 shares of the transportation company’s stock worth $132,000 after buying an additional 2,330 shares during the period. CWM LLC boosted its position in shares of LATAM Airlines Group by 2,004.2% during the third quarter. CWM LLC now owns 3,493 shares of the transportation company’s stock worth $158,000 after buying an additional 3,327 shares during the period. Finally, Raiffeisen Bank International AG acquired a new stake in shares of LATAM Airlines Group in the second quarter valued at $185,000.

LATAM Airlines Group Trading Up 1.2%

NYSE:LTM opened at $47.62 on Friday. LATAM Airlines Group S.A. has a 12-month low of $26.36 and a 12-month high of $70.42. The firm has a market cap of $14.39 billion, a PE ratio of 9.56, a price-to-earnings-growth ratio of 0.32 and a beta of 3.89. The stock has a fifty day moving average price of $58.53 and a 200 day moving average price of $51.54.

LATAM Airlines Group (NYSE:LTM) last issued its quarterly earnings results on Tuesday, February 3rd. The transportation company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.34. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.81 billion. LATAM Airlines Group had a return on equity of 136.61% and a net margin of 10.07%. Equities analysts forecast that LATAM Airlines Group S.A. will post 3.37 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on LTM. Wall Street Zen upgraded LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 22nd. The Goldman Sachs Group set a $64.10 target price on LATAM Airlines Group and gave the company a “neutral” rating in a research report on Thursday, February 12th. Morgan Stanley reiterated an “equal weight” rating and set a $67.00 price target (up from $56.00) on shares of LATAM Airlines Group in a research note on Friday, February 20th. Weiss Ratings reissued a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Thursday, January 22nd. Finally, Zacks Research cut shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $68.70.

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.