LATAM Airlines Group S.A. $LTM Stock Position Boosted by UBS Group AG

Key Points

• UBS Group AG increased its stake in LATAM Airlines Group by 8.1% in the fourth quarter, adding 45,607 shares to bring its total to 610,678 shares valued at about $33 million.
• LATAM reported stronger-than-expected quarterly results, posting EPS of $2.01 versus the $1.35 estimate and revenue of $4.08 billion versus expectations of $3.96 billion.
• Analysts remain mostly positive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $62.10 after several recent upgrades from major brokerages.

UBS Group AG boosted its stake in LATAM Airlines Group S.A. (NYSE:LTM - Free Report) by 8.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 610,678 shares of the transportation company's stock after buying an additional 45,607 shares during the period. UBS Group AG owned 0.20% of LATAM Airlines Group worth $32,983,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its position in LATAM Airlines Group by 49.1% in the 4th quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company's stock valued at $40,000 after buying an additional 246 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in LATAM Airlines Group in the 2nd quarter valued at about $90,000. Rhumbline Advisers grew its position in LATAM Airlines Group by 113.8% in the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company's stock valued at $100,000 after buying an additional 1,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in LATAM Airlines Group by 19.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,386 shares of the transportation company's stock valued at $129,000 after buying an additional 391 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in LATAM Airlines Group by 392.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,924 shares of the transportation company's stock valued at $132,000 after buying an additional 2,330 shares in the last quarter.

LATAM Airlines Group Trading Down 1.3%

NYSE:LTM opened at $51.15 on Friday. LATAM Airlines Group S.A. has a twelve month low of $33.36 and a twelve month high of $70.42. The company has a 50-day moving average of $50.56 and a 200-day moving average of $52.57. The firm has a market cap of $14.68 billion, a price-to-earnings ratio of 8.80, a price-to-earnings-growth ratio of 1.43 and a beta of 3.62.

LATAM Airlines Group (NYSE:LTM - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The transportation company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.66. LATAM Airlines Group had a net margin of 11.03% and a return on equity of 127.75%. The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $3.96 billion. On average, research analysts forecast that LATAM Airlines Group S.A. will post 4.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LTM. Weiss Ratings reiterated a "hold (c)" rating on shares of LATAM Airlines Group in a research report on Tuesday, April 21st. Morgan Stanley upgraded shares of LATAM Airlines Group from an "equal weight" rating to an "overweight" rating and decreased their target price for the company from $61.00 to $60.00 in a research report on Thursday, March 26th. The Goldman Sachs Group upgraded shares of LATAM Airlines Group from a "neutral" rating to a "buy" rating and set a $63.40 target price for the company in a research report on Monday, April 13th. Wall Street Zen lowered shares of LATAM Airlines Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 2nd. Finally, Citigroup upgraded shares of LATAM Airlines Group from a "neutral" rating to a "buy" rating and raised their price objective for the company from $53.00 to $58.00 in a research report on Tuesday, March 17th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $62.10.

LATAM Airlines Group Company 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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