Deutsche Bank AG Lowers Stock Position 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 cut its stake in LATAM Airlines Group S.A. (NYSE:LTM - Free Report) by 23.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Blue Trust Inc. lifted its position in 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 lifted its position in LATAM Airlines Group by 113.8% in the first quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company's stock worth $100,000 after buying an additional 1,700 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in LATAM Airlines Group by 17.9% in the fourth quarter. Cubist Systematic Strategies LLC now owns 12,355 shares of the transportation company's stock worth $341,000 after buying an additional 1,879 shares during the last quarter. Quantinno Capital Management LP lifted its position in LATAM Airlines Group by 50.4% in the fourth quarter. Quantinno Capital Management LP now owns 20,403 shares of the transportation company's stock worth $563,000 after buying an additional 6,840 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in LATAM Airlines Group in the fourth quarter worth $212,000.

Wall Street Analysts Forecast Growth

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

LATAM Airlines Group Price Performance

Shares of NYSE:LTM traded up $0.46 on Friday, hitting $44.20. 616,160 shares of the company's stock were exchanged, compared to its average volume of 667,266. LATAM Airlines Group S.A. has a 12 month low of $23.59 and a 12 month high of $44.97. The stock has a market capitalization of $13.36 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 0.42 and a beta of 3.58. The business's 50 day simple moving average is $41.23 and its two-hundred day simple moving average is $35.39.

About LATAM Airlines Group

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.