LATAM Airlines Group S.A. $LTM Holdings Raised by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised its stake in LATAM by 79.6% in Q3 to 535,389 shares (about $24.2M), while other institutions—most notably SPX Gestao de Recursos—also made large buys, pushing SPX's holdings to 935,321 shares (~$42.3M).
• LATAM reported a strong quarterly beat, with EPS $1.69 versus $1.35 expected and revenue of $3.95B (vs. $3.81B), and posted a high ROE (136.61%) and a 10.07% net margin.
• The stock opened at $49.72 (12‑month range $26.36–$70.42), has a market cap of $15.03B and a P/E of ~9.98; analysts’ consensus is a Hold with a $66.03 target, though several firms have recently raised ratings or price targets.

JPMorgan Chase & Co. increased its stake in LATAM Airlines Group S.A. (NYSE:LTM - Free Report) by 79.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 535,389 shares of the transportation company's stock after purchasing an additional 237,363 shares during the quarter. JPMorgan Chase & Co. owned about 0.18% of LATAM Airlines Group worth $24,226,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Element Capital Management LLC bought a new stake in LATAM Airlines Group during the third quarter worth approximately $1,288,000. BlueCrest Capital Management Ltd acquired a new stake in LATAM Airlines Group in the third quarter worth approximately $2,262,000. SPX Gestao de Recursos Ltda boosted its stake in LATAM Airlines Group by 3,884.5% during the 3rd quarter. SPX Gestao de Recursos Ltda now owns 935,321 shares of the transportation company's stock valued at $42,323,000 after purchasing an additional 911,847 shares in the last quarter. Squarepoint Ops LLC bought a new position in LATAM Airlines Group during the 2nd quarter valued at $951,000. Finally, Monashee Investment Management LLC increased its position in shares of LATAM Airlines Group by 68.8% during the 3rd quarter. Monashee Investment Management LLC now owns 135,000 shares of the transportation company's stock valued at $6,109,000 after purchasing an additional 55,000 shares during the period.

LATAM Airlines Group Stock Performance

NYSE LTM opened at $49.72 on Tuesday. The firm's 50 day moving average price is $57.58 and its two-hundred day moving average price is $51.49. LATAM Airlines Group S.A. has a twelve month low of $26.36 and a twelve month high of $70.42. The stock has a market cap of $15.03 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 0.32 and a beta of 3.89.

LATAM Airlines Group (NYSE:LTM - Get Free Report) last released its earnings results on Tuesday, February 3rd. The transportation company reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.35 by $0.34. LATAM Airlines Group had a return on equity of 136.61% and a net margin of 10.07%.The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.81 billion. On average, research analysts forecast that LATAM Airlines Group S.A. will post 3.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Citigroup upgraded LATAM Airlines Group from a "neutral" rating to a "buy" rating and upped their price objective for the company from $53.00 to $58.00 in a report on Tuesday, March 17th. Morgan Stanley reaffirmed an "equal weight" rating and set a $67.00 target price (up from $56.00) on shares of LATAM Airlines Group in a report on Friday, February 20th. Zacks Research cut shares of LATAM Airlines Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 10th. Weiss Ratings reissued a "hold (c)" rating on shares of LATAM Airlines Group in a report on Thursday, January 22nd. Finally, Barclays restated an "overweight" rating and set a $75.00 price objective (up from $60.00) on shares of LATAM Airlines Group in a research report on Thursday, February 5th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, LATAM Airlines Group presently has a consensus rating of "Hold" and a consensus target price of $66.03.

LATAM Airlines Group Profile

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.

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