LATAM Airlines Group S.A. $LTM Position Reduced by Perpetual Ltd

Key Points

• Perpetual Ltd cut its LATAM Airlines Group stake by 43.3% in the third quarter, selling 72,622 shares and retaining 95,059 shares valued at approximately $4.74 million.
• Despite some analyst downgrades to “hold,” LATAM maintains a “Moderate Buy” consensus rating from six Buy and two Hold ratings, with an average price target of $66.27.
• LATAM exceeded quarterly expectations, reporting $0.44 in earnings per share versus the $0.41 estimate and revenue of $4.12 billion, ahead of the $4.06 billion consensus.

Perpetual Ltd lessened its stake in shares of LATAM Airlines Group S.A. (NYSE:LTM - Free Report) by 43.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,059 shares of the transportation company's stock after selling 72,622 shares during the quarter. Perpetual Ltd's holdings in LATAM Airlines Group were worth $4,742,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Assetmark Inc. increased its holdings in LATAM Airlines Group by 684.3% during the 1st quarter. Assetmark Inc. now owns 1,302 shares of the transportation company's stock valued at $64,000 after purchasing an additional 1,136 shares in the last quarter. GAMMA Investing LLC boosted its holdings in LATAM Airlines Group by 26.2% in the second quarter. GAMMA Investing LLC now owns 1,647 shares of the transportation company's stock valued at $96,000 after acquiring an additional 342 shares during the last quarter. Royal Bank of Canada raised its holdings in LATAM Airlines Group by 22.3% during the 1st quarter. Royal Bank of Canada now owns 3,268 shares of the transportation company's stock worth $162,000 after purchasing an additional 596 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in LATAM Airlines Group by 16.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,649 shares of the transportation company's stock valued at $180,000 after purchasing an additional 527 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of LATAM Airlines Group by 24.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,777 shares of the transportation company's stock worth $204,000 after buying an additional 749 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wall Street Zen downgraded LATAM Airlines Group from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 8th. Zacks Research cut shares of LATAM Airlines Group from a "strong-buy" rating to a "hold" rating in a report on Monday, August 17th. Weiss Ratings cut shares of LATAM Airlines Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, September 25th. Finally, Jefferies Financial Group assumed coverage on LATAM Airlines Group in a research note on Thursday, June 18th. They set a "buy" rating and a $70.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $66.27.

LATAM Airlines Group Stock Performance

Shares of NYSE LTM opened at $48.61 on Wednesday. The stock has a market capitalization of $13.96 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 1.21 and a beta of 3.64. LATAM Airlines Group S.A. has a 52 week low of $41.92 and a 52 week high of $70.42. The stock has a 50 day moving average price of $51.74 and a 200 day moving average price of $51.98.

LATAM Airlines Group (NYSE:LTM - Get Free Report) last issued its earnings results on Tuesday, August 4th. The transportation company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.03. LATAM Airlines Group had a net margin of 9.69% and a return on equity of 101.21%. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.06 billion. As a group, research analysts forecast that LATAM Airlines Group S.A. will post 4.96 EPS for the current year.

LATAM Airlines Group Company Profile

LATAM Airlines Group SA is a Chile-based airline holding company and one of the largest air transportation groups in Latin America. Through its LATAM Airlines affiliates, the group provides scheduled passenger and cargo air services to domestic and international destinations.

The company serves markets across South America, including Chile, Brazil, Colombia, Ecuador, and Peru, as well as destinations in North America, the Caribbean, Europe, and Oceania. Its operations include domestic routes within several Latin American countries, international passenger services, and air freight transportation.

LATAM Airlines Group was created in 2012 through the merger of Chile's LAN Airlines and Brazil's TAM Airlines.

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