Navi International Administradora e Gestora de Recursos Financeiros Ltda. Purchases 305,355 Shares of LATAM Airlines Group S.A. $LTM

Key Points

• Navi International increased its LATAM Airlines Group position by 1,478.6% in the second quarter, purchasing 305,355 shares for a total of 326,007 shares valued at approximately $19.0 million.
• Several major institutional investors also expanded their holdings, including Morgan Stanley, Arrowstreet Capital, Renaissance Technologies, and Vanguard Group.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $66.27. LATAM recently exceeded quarterly earnings and revenue expectations, reporting $0.44 in EPS and $4.12 billion in revenue.

Navi International Administradora e Gestora de Recursos Financeiros Ltda. grew its position in LATAM Airlines Group S.A. (NYSE:LTM - Free Report) by 1,478.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 326,007 shares of the transportation company's stock after purchasing an additional 305,355 shares during the quarter. LATAM Airlines Group makes up about 13.1% of Navi International Administradora e Gestora de Recursos Financeiros Ltda.'s portfolio, making the stock its 3rd largest position. Navi International Administradora e Gestora de Recursos Financeiros Ltda. owned 0.11% of LATAM Airlines Group worth $18,996,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LTM. Morgan Stanley boosted its position in LATAM Airlines Group by 11.2% during the fourth quarter. Morgan Stanley now owns 2,091,845 shares of the transportation company's stock valued at $112,981,000 after acquiring an additional 211,261 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in LATAM Airlines Group during the 4th quarter worth about $83,266,000. Arrowstreet Capital Limited Partnership raised its position in shares of LATAM Airlines Group by 248.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,484,669 shares of the transportation company's stock worth $67,181,000 after acquiring an additional 1,058,554 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of LATAM Airlines Group by 184.9% in the 1st quarter. Renaissance Technologies LLC now owns 1,267,200 shares of the transportation company's stock worth $62,650,000 after acquiring an additional 822,400 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of LATAM Airlines Group by 266.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,039,414 shares of the transportation company's stock valued at $47,033,000 after purchasing an additional 755,997 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. The Goldman Sachs Group reaffirmed a "buy" rating and set a $72.60 target price on shares of LATAM Airlines Group in a research note on Tuesday, May 12th. Jefferies Financial Group started coverage on LATAM Airlines Group in a report on Thursday, June 18th. They set a "buy" rating and a $70.00 price target on the stock. Zacks Research downgraded shares of LATAM Airlines Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 17th. JPMorgan Chase & Co. began coverage on shares of LATAM Airlines Group in a research note on Wednesday, June 3rd. They issued an "overweight" rating and a $70.00 price objective for the company. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of LATAM Airlines Group in a research report on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $66.27.

LATAM Airlines Group Price Performance

Shares of NYSE LTM opened at $52.49 on Friday. LATAM Airlines Group S.A. has a 1 year low of $41.41 and a 1 year high of $70.42. The stock has a market capitalization of $15.07 billion, a P/E ratio of 9.65, a P/E/G ratio of 1.37 and a beta of 3.64. The company has a 50-day moving average price of $53.50 and a 200-day moving average price of $52.27.

LATAM Airlines Group (NYSE:LTM - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.03. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.06 billion. LATAM Airlines Group had a return on equity of 101.21% and a net margin of 9.69%. As a group, equities research analysts anticipate that LATAM Airlines Group S.A. will post 4.52 earnings per share for the current fiscal year.

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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