Deutsche Bank AG Cuts Stake in LATAM Airlines Group S.A. (NYSE:LTM)

Key Points

• Deutsche Bank AG reduced its stake in LATAM Airlines Group by 23.8%, now holding approximately 1,550,000 shares valued at $48.48 million.
• Several institutional investors increased their stakes in LATAM Airlines, with Blue Trust Inc. growing its stake by 44.9% and Rhumbline Advisers boosting theirs by 113.8% in the first quarter.
• Analysts have recently upgraded LATAM Airlines to a "strong-buy" rating, with a consensus rating of "Buy" and an average price target of $38.00.

Deutsche Bank AG lessened its stake in shares of LATAM Airlines Group S.A. (NYSE:LTM - Free Report) by 23.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,550,000 shares of the transportation company's stock after selling 485,000 shares during the quarter. Deutsche Bank AG owned about 0.51% of LATAM Airlines Group worth $48,484,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new stake in shares of LATAM Airlines Group in the 1st quarter worth about $404,000. Advisors Preferred LLC acquired a new stake in shares of LATAM Airlines Group in the 1st quarter valued at approximately $761,000. Penserra Capital Management LLC acquired a new stake in shares of LATAM Airlines Group in the 1st quarter valued at approximately $295,000. Robeco Institutional Asset Management B.V. raised its stake in LATAM Airlines Group by 91.5% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 153,660 shares of the transportation company's stock worth $4,806,000 after buying an additional 73,400 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of LATAM Airlines Group by 44.9% during the 1st quarter. Blue Trust Inc. now owns 1,949 shares of the transportation company's stock valued at $61,000 after purchasing an additional 604 shares in the last quarter.

LATAM Airlines Group Stock Up 3.7%

Shares of NYSE LTM traded up $1.59 during trading on Wednesday, reaching $44.89. 712,902 shares of the company traded hands, compared to its average volume of 414,459. LATAM Airlines Group S.A. has a 52-week low of $23.59 and a 52-week high of $44.97. The firm has a 50 day simple moving average of $41.03 and a 200-day simple moving average of $35.27. The stock has a market capitalization of $13.57 billion, a PE ratio of 11.54, a P/E/G ratio of 0.42 and a beta of 3.58.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of LATAM Airlines Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $38.00.

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.