LATAM Airlines Group S.A. $LTM Shares Sold by First Trust Advisors LP

Key Points

• First Trust Advisors LP reduced its LATAM Airlines Group stake by 32.5% in the first quarter, selling 29,429 shares and retaining 61,156 shares valued at approximately $3.0 million.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $66.27; Jefferies and JPMorgan each set a $70 target, while Goldman Sachs set a $72.60 target.
• LATAM reported quarterly earnings of $0.44 per share, beating estimates of $0.41, while revenue reached $4.12 billion versus the $4.06 billion consensus estimate. Shares opened at $57.32, down 0.7%.

First Trust Advisors LP cut its position in shares of LATAM Airlines Group S.A. (NYSE:LTM - Free Report) by 32.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,156 shares of the transportation company's stock after selling 29,429 shares during the quarter. First Trust Advisors LP's holdings in LATAM Airlines Group were worth $3,024,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in LATAM Airlines Group by 16.9% during the first quarter. PNC Financial Services Group Inc. now owns 3,649 shares of the transportation company's stock worth $180,000 after acquiring an additional 527 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of LATAM Airlines Group by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 237,965 shares of the transportation company's stock worth $11,750,000 after purchasing an additional 9,448 shares during the period. SPX Gestao de Recursos Ltda lifted its stake in shares of LATAM Airlines Group by 168.5% during the 1st quarter. SPX Gestao de Recursos Ltda now owns 881,976 shares of the transportation company's stock worth $43,605,000 after purchasing an additional 553,513 shares during the period. Assetmark Inc. boosted its holdings in shares of LATAM Airlines Group by 684.3% during the first quarter. Assetmark Inc. now owns 1,302 shares of the transportation company's stock worth $64,000 after purchasing an additional 1,136 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of LATAM Airlines Group during the first quarter worth $746,000.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on LTM shares. Wall Street Zen raised LATAM Airlines Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 23rd. Jefferies Financial Group began coverage on LATAM Airlines Group in a research report on Thursday, June 18th. They set a "buy" rating and a $70.00 target price on the stock. The Goldman Sachs Group reissued a "buy" rating and issued a $72.60 price target on shares of LATAM Airlines Group in a research note on Tuesday, May 12th. JPMorgan Chase & Co. assumed coverage on shares of LATAM Airlines Group in a research note on Wednesday, June 3rd. They set an "overweight" rating and a $70.00 price objective for the company. Finally, Zacks Research upgraded shares of LATAM Airlines Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $66.27.

LATAM Airlines Group Stock Down 0.7%

Shares of NYSE LTM opened at $57.32 on Friday. The stock has a market capitalization of $16.46 billion, a PE ratio of 10.54, a P/E/G ratio of 1.16 and a beta of 3.62. The firm has a fifty day moving average of $53.89 and a 200-day moving average of $53.90. LATAM Airlines Group S.A. has a 52-week low of $41.41 and a 52-week high of $70.42.

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 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 business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.06 billion. Equities research analysts expect that LATAM Airlines Group S.A. will post 5.95 EPS for the current fiscal year.

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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