LATAM Airlines Group S.A. $LTM Shares Acquired by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC significantly increased its stake in LATAM Airlines Group by 1,028.9%, acquiring an additional 127,123 shares in the first quarter, raising its total to 139,478 shares worth approximately $4.36 million.
• Multiple hedge funds, including Blue Trust Inc. and Rhumbline Advisers, have also boosted their holdings in LATAM Airlines Group in recent months, indicating strong interest from institutional investors.
• LATAM Airlines Group's stock rating was downgraded from a "strong-buy" to a "buy" by Wall Street Zen, but it still maintains a consensus rating of "Buy" with a target price of $39.00.

Cubist Systematic Strategies LLC increased its stake in LATAM Airlines Group S.A. (NYSE:LTM - Free Report) by 1,028.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,478 shares of the transportation company's stock after purchasing an additional 127,123 shares during the period. Cubist Systematic Strategies LLC's holdings in LATAM Airlines Group were worth $4,363,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Blue Trust Inc. raised its holdings in shares of LATAM Airlines Group by 44.9% in the first quarter. Blue Trust Inc. now owns 1,949 shares of the transportation company's stock worth $61,000 after buying an additional 604 shares during the last quarter. Rhumbline Advisers increased its position in shares of LATAM Airlines Group by 113.8% in the 1st 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 during the period. Liontrust Investment Partners LLP purchased a new position in LATAM Airlines Group in the 1st quarter worth $182,000. Schonfeld Strategic Advisors LLC acquired a new stake in LATAM Airlines Group during the 4th quarter worth about $212,000. Finally, Penserra Capital Management LLC purchased a new stake in LATAM Airlines Group during the 1st quarter valued at about $295,000.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded LATAM Airlines Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat, LATAM Airlines Group has an average rating of "Buy" and a consensus price target of $39.00.

LATAM Airlines Group Price Performance

NYSE:LTM traded up $0.01 during mid-day trading on Wednesday, hitting $47.65. The company's stock had a trading volume of 2,246,575 shares, compared to its average volume of 2,024,783. The business's fifty day moving average is $44.65 and its two-hundred day moving average is $37.62. The stock has a market cap of $14.40 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 0.46 and a beta of 3.59. LATAM Airlines Group S.A. has a 1 year low of $24.02 and a 1 year high of $52.54.

LATAM Airlines Group Company Profile

LATAM Airlines Group SA, together with its subsidiaries, provides passenger and cargo air transportation services in Peru, Argentina, the United States, Europe, Colombia, Brazil, Ecuador, Chile, the Asia Pacific, and rest of Latin America. The company operates in two segments, Air Transportation; and Multiplus Coalition and Loyalty Program.