Lazard Asset Management LLC Sells 11,271 Shares of LATAM Airlines Group S.A. $LTM

Lazard Asset Management LLC cut its holdings in LATAM Airlines Group S.A. (NYSE:LTM) by 35.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,589 shares of the transportation company’s stock after selling 11,271 shares during the quarter. Lazard Asset Management LLC’s holdings in LATAM Airlines Group were worth $1,018,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Pictet Asset Management Holding SA bought a new position in shares of LATAM Airlines Group during the fourth quarter valued at approximately $5,822,000. UBS Group AG lifted its holdings in shares of LATAM Airlines Group by 8.1% during the fourth quarter. UBS Group AG now owns 610,678 shares of the transportation company’s stock valued at $32,983,000 after purchasing an additional 45,607 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of LATAM Airlines Group by 87.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,018,218 shares of the transportation company’s stock worth $54,994,000 after purchasing an additional 474,593 shares in the last quarter. Fundamenta Capital S.A. purchased a new stake in shares of LATAM Airlines Group in the 4th quarter worth approximately $14,987,000. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of LATAM Airlines Group in the 3rd quarter worth approximately $3,662,000.

LATAM Airlines Group Trading Up 3.6%

LTM stock opened at $57.65 on Thursday. The stock has a market capitalization of $16.55 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 1.12 and a beta of 3.62. LATAM Airlines Group S.A. has a 12-month low of $41.41 and a 12-month high of $70.42. The stock’s 50 day simple moving average is $53.80 and its 200 day simple moving average is $53.91.

LATAM Airlines Group (NYSE:LTM) last posted its earnings results on Tuesday, August 4th. The transportation company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.17. LATAM Airlines Group had a return on equity of 110.50% and a net margin of 9.69%.The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.06 billion. On average, research analysts predict that LATAM Airlines Group S.A. will post 5.95 earnings per share for the current year.

Analyst Ratings Changes

LTM has been the subject of a number of recent research reports. JPMorgan Chase & Co. began coverage on LATAM Airlines Group in a research note on Wednesday, June 3rd. They set an “overweight” rating and a $70.00 price objective for the company. Zacks Research raised LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Weiss Ratings restated a “hold (c)” rating on shares of LATAM Airlines Group in a report on Friday, July 17th. 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 target for the company. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $72.60 price target on shares of LATAM Airlines Group in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, LATAM Airlines Group has an average rating of “Buy” and an average price target of $66.27.

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.