LATAM Airlines Group S.A. (NYSE:LTM) Short Interest Up 14.4% in February

LATAM Airlines Group S.A. (NYSE:LTM) was the recipient of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 2,502,873 shares, an increase of 14.4% from the February 12th total of 2,188,465 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average daily volume of 1,465,359 shares, the short-interest ratio is currently 1.7 days. Based on an average daily volume of 1,465,359 shares, the short-interest ratio is currently 1.7 days. Approximately 0.9% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

LTM has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Thursday, January 22nd. Citigroup raised LATAM Airlines Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $53.00 to $58.00 in a research note on Tuesday. Zacks Research cut shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. The Goldman Sachs Group set a $64.10 target price on shares of LATAM Airlines Group and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Finally, Wall Street Zen upgraded shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $66.03.

Hedge Funds Weigh In On LATAM Airlines Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its stake in shares of LATAM Airlines Group by 49.1% during the fourth quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company’s stock worth $40,000 after buying an additional 246 shares during the last quarter. Leonteq Securities AG bought a new stake in LATAM Airlines Group in the fourth quarter valued at about $78,000. Tower Research Capital LLC TRC acquired a new stake in shares of LATAM Airlines Group in the 2nd quarter valued at approximately $90,000. Rhumbline Advisers raised its position in shares of LATAM Airlines Group by 113.8% in the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock valued at $100,000 after acquiring an additional 1,700 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in LATAM Airlines Group by 19.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,386 shares of the transportation company’s stock worth $129,000 after acquiring an additional 391 shares during the last quarter.

LATAM Airlines Group Stock Performance

Shares of LTM traded up $0.62 during mid-day trading on Tuesday, hitting $50.13. The company’s stock had a trading volume of 1,038,975 shares, compared to its average volume of 1,552,801. LATAM Airlines Group has a one year low of $26.36 and a one year high of $70.42. The stock’s 50-day moving average is $58.39 and its two-hundred day moving average is $51.55. The firm has a market capitalization of $15.15 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 0.32 and a beta of 3.89.

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

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.