Man Investment Partners US LP Acquires New Shares in LATAM Airlines Group S.A. $LTM

Man Investment Partners US LP acquired a new position in shares of LATAM Airlines Group S.A. (NYSE:LTM) during the fourth quarter, Holdings Channel.com reports. The fund acquired 65,709 shares of the transportation company’s stock, valued at approximately $3,549,000. LATAM Airlines Group accounts for approximately 5.6% of Man Investment Partners US LP’s holdings, making the stock its 4th largest holding.

A number of other hedge funds have also added to or reduced their stakes in LTM. Farther Finance Advisors LLC grew its holdings in LATAM Airlines Group by 49.1% during 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 purchased a new stake in shares of LATAM Airlines Group in the fourth quarter worth about $78,000. Tower Research Capital LLC TRC bought a new position in shares of LATAM Airlines Group in the second quarter valued at approximately $90,000. Rhumbline Advisers grew its stake in LATAM Airlines Group by 113.8% during the first 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in LATAM Airlines Group by 19.6% during the fourth 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.

LATAM Airlines Group Price Performance

Shares of LATAM Airlines Group stock opened at $55.05 on Wednesday. LATAM Airlines Group S.A. has a 1 year low of $36.64 and a 1 year high of $70.42. The firm has a market cap of $15.81 billion, a PE ratio of 9.47, a PEG ratio of 1.55 and a beta of 3.62. The company has a 50 day simple moving average of $50.72 and a two-hundred day simple moving average of $53.61.

LATAM Airlines Group (NYSE:LTM) last issued its quarterly earnings results on Wednesday, May 6th. The transportation company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.66. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $3.96 billion. LATAM Airlines Group had a net margin of 11.03% and a return on equity of 127.75%. As a group, research analysts anticipate that LATAM Airlines Group S.A. will post 4.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on LTM. JPMorgan Chase & Co. began coverage on shares of LATAM Airlines Group in a research note on Wednesday, June 3rd. They issued an “overweight” rating and a $70.00 target price on the stock. Barclays reduced their price target on shares of LATAM Airlines Group from $75.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, March 24th. Zacks Research raised shares of LATAM Airlines Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Wall Street Zen upgraded LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 23rd. Finally, Citigroup upgraded LATAM Airlines Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $53.00 to $58.00 in a research note on Tuesday, March 17th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.52.

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.