Verde Servicos Internacionais S.A. Invests $890,000 in LATAM Airlines Group S.A. $LTM

Verde Servicos Internacionais S.A. acquired a new stake in LATAM Airlines Group S.A. (NYSE:LTM) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 18,000 shares of the transportation company’s stock, valued at approximately $890,000.

Several other hedge funds and other institutional investors have also made changes to their positions in LTM. Farther Finance Advisors LLC increased its holdings in 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 position in shares of LATAM Airlines Group in the 4th quarter valued at about $78,000. Tower Research Capital LLC TRC bought a new position in shares of LATAM Airlines Group in the 2nd quarter valued at about $90,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 purchasing an additional 391 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in shares of LATAM Airlines Group by 340.2% during the 4th quarter. Royal Bank of Canada now owns 2,672 shares of the transportation company’s stock worth $144,000 after purchasing an additional 2,065 shares during the last quarter.

LATAM Airlines Group Price Performance

NYSE:LTM opened at $55.75 on Wednesday. The company has a market cap of $16.01 billion, a P/E ratio of 9.60, a P/E/G ratio of 1.38 and a beta of 3.62. The firm’s fifty day moving average price is $51.18 and its two-hundred day moving average price is $53.85. LATAM Airlines Group S.A. has a one year low of $38.30 and a one year high of $70.42.

LATAM Airlines Group (NYSE:LTM) last posted its earnings results on Wednesday, May 6th. The transportation company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.66. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations 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, equities research analysts expect that LATAM Airlines Group S.A. will post 4.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 23rd. Citigroup upgraded LATAM Airlines Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $53.00 to $58.00 in a report on Tuesday, March 17th. JPMorgan Chase & Co. began coverage on LATAM Airlines Group in a research report on Wednesday, June 3rd. They set an “overweight” rating and a $70.00 price target on the stock. Morgan Stanley upgraded 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. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Tuesday, April 21st. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.27.

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.