LATAM Airlines Group (NYSE:LTM) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

LATAM Airlines Group S.A. (NYSE:LTM) shares passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $51.90 and traded as high as $52.16. LATAM Airlines Group shares last traded at $50.9260, with a volume of 866,005 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have commented on LTM shares. Jefferies Financial Group initiated coverage on LATAM Airlines Group in a report on Thursday, June 18th. They set a “buy” rating and a $70.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on LATAM Airlines Group in a report on Wednesday, June 3rd. They issued an “overweight” rating and a $70.00 target price on the stock. Zacks Research cut LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Wall Street Zen downgraded LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings lowered LATAM Airlines Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, September 25th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, LATAM Airlines Group currently has an average rating of “Moderate Buy” and an average price target of $66.27.

LATAM Airlines Group Trading Down 4.4%

The stock’s 50-day simple moving average is $52.26 and its 200-day simple moving average is $51.92. The firm has a market capitalization of $13.69 billion, a P/E ratio of 8.77, a P/E/G ratio of 1.23 and a beta of 3.64.

LATAM Airlines Group (NYSE:LTM) last posted its earnings results on Tuesday, August 4th. The transportation company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.41 by $0.03. The firm had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.06 billion. LATAM Airlines Group had a net margin of 9.69% and a return on equity of 101.21%. On average, equities research analysts expect that LATAM Airlines Group S.A. will post 4.96 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LTM. SPX Gestao de Recursos Ltda increased its holdings in LATAM Airlines Group by 168.5% during the first quarter. SPX Gestao de Recursos Ltda now owns 881,976 shares of the transportation company’s stock worth $43,605,000 after buying an additional 553,513 shares during the last quarter. Renaissance Technologies LLC boosted its stake in LATAM Airlines Group by 184.9% in the first quarter. Renaissance Technologies LLC now owns 1,267,200 shares of the transportation company’s stock valued at $62,650,000 after acquiring an additional 822,400 shares during the last quarter. Navi International Administradora e Gestora de Recursos Financeiros Ltda. grew its position in shares of LATAM Airlines Group by 1,478.6% during the 2nd quarter. Navi International Administradora e Gestora de Recursos Financeiros Ltda. now owns 326,007 shares of the transportation company’s stock valued at $18,996,000 after acquiring an additional 305,355 shares during the period. Bank of New York Mellon Corp bought a new position in shares of LATAM Airlines Group during the 1st quarter valued at approximately $746,000. Finally, Bank of America Corp DE increased its stake in shares of LATAM Airlines Group by 641.9% during the 1st quarter. Bank of America Corp DE now owns 346,402 shares of the transportation company’s stock worth $17,126,000 after purchasing an additional 299,710 shares during the last quarter.

About LATAM Airlines Group

LATAM Airlines Group SA is a Chile-based airline holding company and one of the largest air transportation groups in Latin America. Through its LATAM Airlines affiliates, the group provides scheduled passenger and cargo air services to domestic and international destinations.

The company serves markets across South America, including Chile, Brazil, Colombia, Ecuador, and Peru, as well as destinations in North America, the Caribbean, Europe, and Oceania. Its operations include domestic routes within several Latin American countries, international passenger services, and air freight transportation.

LATAM Airlines Group was created in 2012 through the merger of Chile’s LAN Airlines and Brazil’s TAM Airlines.