LATAM Airlines Group S.A. $LTM Stock Position Lowered by Columbus Hill Capital Management L.P.

Columbus Hill Capital Management L.P. lessened its position in LATAM Airlines Group S.A. (NYSE:LTM) by 29.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 329,927 shares of the transportation company’s stock after selling 136,912 shares during the quarter. LATAM Airlines Group makes up about 2.5% of Columbus Hill Capital Management L.P.’s holdings, making the stock its 16th biggest holding. Columbus Hill Capital Management L.P. owned 0.11% of LATAM Airlines Group worth $17,819,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. lifted its position in shares of LATAM Airlines Group by 6.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,122 shares of the transportation company’s stock valued at $169,000 after acquiring an additional 198 shares in the last quarter. Blue Trust Inc. lifted its position in shares of LATAM Airlines Group by 3.6% in the 4th quarter. Blue Trust Inc. now owns 6,226 shares of the transportation company’s stock valued at $336,000 after acquiring an additional 219 shares in the last quarter. Farther Finance Advisors LLC lifted its position 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 acquiring an additional 246 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of 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. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of LATAM Airlines Group by 39.5% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,028 shares of the transportation company’s stock valued at $137,000 after acquiring an additional 858 shares in the last quarter.

LATAM Airlines Group Stock Up 3.6%

Shares of LTM opened at $53.30 on Friday. The company’s fifty day moving average is $50.48 and its 200-day moving average is $53.45. LATAM Airlines Group S.A. has a 12 month low of $36.64 and a 12 month high of $70.42. The firm has a market cap of $15.30 billion, a price-to-earnings ratio of 9.17, a price-to-earnings-growth ratio of 1.46 and a beta of 3.62.

LATAM Airlines Group (NYSE:LTM) last announced 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 company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $3.96 billion. As a group, research analysts predict that LATAM Airlines Group S.A. will post 4.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on LTM shares. Weiss Ratings reiterated a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Tuesday, April 21st. Citigroup upgraded shares of LATAM Airlines Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $53.00 to $58.00 in a research note on Tuesday, March 17th. Barclays dropped their price objective on shares of LATAM Airlines Group from $75.00 to $67.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 24th. The Goldman Sachs Group reiterated a “buy” rating and issued a $72.60 price objective on shares of LATAM Airlines Group in a research note on Tuesday, May 12th. Finally, Morgan Stanley upgraded shares of LATAM Airlines Group from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $61.00 to $60.00 in a research note on Thursday, March 26th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, LATAM Airlines Group currently has a consensus rating of “Moderate Buy” and an average price target of $65.52.

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.