LATAM Airlines Group S.A. $LTM Position Reduced by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management cut its LATAM Airlines stake by 71.4% in the third quarter, selling 1,038,025 shares and retaining 414,896 shares valued at approximately $20.7 million.
• Despite some analyst downgrades to “Hold,” LATAM Airlines maintains a “Moderate Buy” consensus from analysts, with an average price target of $66.27.
• LTM opened at $46.29, near its 52-week low, while its latest quarterly results exceeded expectations with EPS of $0.44 and revenue of $4.12 billion.

Robeco Institutional Asset Management B.V. reduced its stake in LATAM Airlines Group S.A. (NYSE:LTM - Free Report) by 71.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 414,896 shares of the transportation company's stock after selling 1,038,025 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.14% of LATAM Airlines Group worth $20,699,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of LTM. GAMMA Investing LLC raised its stake in LATAM Airlines Group by 20.5% during the third quarter. GAMMA Investing LLC now owns 1,985 shares of the transportation company's stock worth $99,000 after acquiring an additional 338 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of LATAM Airlines Group in the 3rd quarter valued at $26,000. PNC Financial Services Group Inc. boosted its stake in shares of LATAM Airlines Group by 16.9% in 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 in the last quarter. Royal Bank of Canada grew its holdings in shares of LATAM Airlines Group by 22.3% in 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. Finally, QRG Capital Management Inc. grew its holdings in shares of LATAM Airlines Group by 8.7% in the 2nd quarter. QRG Capital Management Inc. now owns 9,403 shares of the transportation company's stock worth $548,000 after purchasing an additional 755 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on LTM shares. Wall Street Zen downgraded shares of 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 research note on Monday, August 17th. Finally, Weiss Ratings lowered shares of LATAM Airlines Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, September 25th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $66.27.

LATAM Airlines Group Trading Down 2.0%

LTM opened at $46.29 on Friday. The stock has a market capitalization of $13.29 billion, a PE ratio of 8.51, a PEG ratio of 1.17 and a beta of 3.64. LATAM Airlines Group S.A. has a 1-year low of $43.00 and a 1-year high of $70.42. The firm has a 50-day moving average price of $50.64 and a two-hundred day moving average price of $51.89.

LATAM Airlines Group (NYSE:LTM - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.03. LATAM Airlines Group had a return on equity of 101.21% and a net margin of 9.69%. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.06 billion. On average, research analysts predict that LATAM Airlines Group S.A. will post 4.82 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. The group provides scheduled passenger and cargo services through affiliated airlines operating under the LATAM brand, connecting major cities within Latin America and serving destinations in North America, Europe, the Caribbean, Africa and Oceania.

Its passenger business includes domestic and international flights, while its cargo operations transport freight using dedicated aircraft and cargo capacity on passenger flights.

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