LATAM Airlines Group S.A. (NYSE:LTM) Short Interest Update

LATAM Airlines Group S.A. (NYSE:LTM) saw a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 3,185,491 shares, an increase of 27.3% from the February 26th total of 2,502,873 shares. Based on an average daily volume of 1,772,126 shares, the days-to-cover ratio is currently 1.8 days. Currently, 1.1% of the company’s stock are short sold.

Analyst Ratings Changes

LTM has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Thursday, January 22nd. The Goldman Sachs Group set a $64.10 price target on LATAM Airlines Group and gave the company a “neutral” rating in a research report on Thursday, February 12th. Citigroup upgraded LATAM Airlines Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $53.00 to $58.00 in a research report on Tuesday, March 17th. Morgan Stanley raised LATAM Airlines Group from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $61.00 to $60.00 in a research note on Thursday, March 26th. Finally, Zacks Research downgraded LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.28.

Institutional Investors Weigh In On LATAM Airlines Group

Several institutional investors have recently made changes to their positions in LTM. Farther Finance Advisors LLC grew its stake in shares of 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 buying an additional 246 shares in the last quarter. Leonteq Securities AG acquired a new stake in LATAM Airlines Group in the fourth quarter valued at approximately $78,000. Tower Research Capital LLC TRC acquired a new stake in LATAM Airlines Group in the second quarter valued at approximately $90,000. Mirae Asset Global Investments Co. Ltd. grew its position in LATAM Airlines Group by 19.6% in the fourth 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 in the last quarter. Finally, Royal Bank of Canada grew its position in LATAM Airlines Group by 340.2% in the fourth quarter. Royal Bank of Canada now owns 2,672 shares of the transportation company’s stock worth $144,000 after acquiring an additional 2,065 shares in the last quarter.

LATAM Airlines Group Stock Up 7.1%

LATAM Airlines Group stock opened at $49.52 on Wednesday. LATAM Airlines Group has a 12 month low of $26.36 and a 12 month high of $70.42. The stock has a market cap of $14.97 billion, a P/E ratio of 9.94, a P/E/G ratio of 0.37 and a beta of 3.89. The company’s fifty day simple moving average is $56.37 and its 200-day simple moving average is $51.49.

LATAM Airlines Group (NYSE:LTM) last announced its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.34. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.81 billion. LATAM Airlines Group had a return on equity of 136.61% and a net margin of 10.07%. On average, equities research analysts expect that LATAM Airlines Group will post 3.37 earnings per share for the current fiscal year.

LATAM Airlines Group Company Profile

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.