Short Interest in LATAM Airlines Group S.A. (NYSE:LTM) Declines By 20.6%

LATAM Airlines Group S.A. (NYSE:LTM) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totaling 2,807,104 shares, a decline of 20.6% from the March 31st total of 3,535,168 shares. Based on an average daily volume of 1,083,249 shares, the days-to-cover ratio is presently 2.6 days. Currently, 1.0% of the shares of the company are sold short.

LATAM Airlines Group Price Performance

Shares of LTM stock traded down $0.30 during trading hours on Friday, hitting $47.24. 494,509 shares of the company’s stock were exchanged, compared to its average volume of 930,423. LATAM Airlines Group has a 52 week low of $31.77 and a 52 week high of $70.42. The stock has a market cap of $13.56 billion, a price-to-earnings ratio of 9.48, a price-to-earnings-growth ratio of 1.32 and a beta of 3.62. The stock’s 50-day moving average is $51.00 and its 200-day moving average is $52.32.

LATAM Airlines Group (NYSE:LTM) last released its quarterly earnings results on Wednesday, February 4th. The transportation company reported $1.69 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $3.81 billion. Equities research analysts forecast that LATAM Airlines Group will post 4.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Citigroup upgraded shares of LATAM Airlines Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $53.00 to $58.00 in a research note on Tuesday, March 17th. Zacks Research cut LATAM Airlines Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. The Goldman Sachs Group upgraded LATAM Airlines Group from a “neutral” rating to a “buy” rating and set a $63.40 price objective for the company in a research report on Monday, April 13th. Morgan Stanley upgraded LATAM Airlines Group from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $61.00 to $60.00 in a research report on Thursday, March 26th. Finally, Barclays cut their target price on LATAM Airlines Group from $75.00 to $67.00 and set an “overweight” rating for the company in a research note on Tuesday, March 24th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $62.10.

Hedge Funds Weigh In On LATAM Airlines Group

A number of large investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC bought a new position in LATAM Airlines Group in the 1st quarter worth approximately $218,000. QRG Capital Management Inc. increased its stake in shares of LATAM Airlines Group by 33.0% in the 1st quarter. QRG Capital Management Inc. now owns 8,648 shares of the transportation company’s stock valued at $428,000 after buying an additional 2,144 shares during the period. Ritholtz Wealth Management acquired a new stake in shares of LATAM Airlines Group in the 1st quarter valued at $682,000. Verde Servicos Internacionais S.A. bought a new stake in shares of LATAM Airlines Group during the first quarter worth $890,000. Finally, SG Americas Securities LLC bought a new stake in shares of LATAM Airlines Group during the first quarter worth $233,000.

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.