Olympus Peak Asset Management LP Has $235.49 Million Stake in LATAM Airlines Group S.A. $LTM

Key Points

• Olympus Peak Asset Management LP reduced its stake in LATAM Airlines Group by 23.9%, now holding approximately 7.5 million shares valued at $235.49 million, making it the firm's largest position.
• LATAM Airlines Group's market cap is $15.24 billion, with a stock price opening at $50.43 and analysts providing a consensus Buy rating and a price target of $39.00.
• Several institutional investors, including Jefferies Financial Group and Deutsche Bank AG, have significantly increased their stakes in LATAM Airlines Group, indicating growing institutional interest in the company.

Olympus Peak Asset Management LP lessened its stake in shares of LATAM Airlines Group S.A. (NYSE:LTM - Free Report) by 23.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,528,393 shares of the transportation company's stock after selling 2,365,990 shares during the quarter. LATAM Airlines Group accounts for about 100.0% of Olympus Peak Asset Management LP's holdings, making the stock its biggest holding. Olympus Peak Asset Management LP owned approximately 2.49% of LATAM Airlines Group worth $235,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP bought a new stake in LATAM Airlines Group in the fourth quarter valued at $885,000. Northern Trust Corp bought a new position in shares of LATAM Airlines Group in the 4th quarter valued at $942,000. Schonfeld Strategic Advisors LLC acquired a new position in LATAM Airlines Group during the 4th quarter worth approximately $212,000. BNP Paribas Financial Markets purchased a new stake in shares of LATAM Airlines Group during the fourth quarter worth $1,042,000. Finally, Bardin Hill Management Partners LP bought a new stake in shares of LATAM Airlines Group in the fourth quarter worth about $1,664,000.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of LATAM Airlines Group from a "strong-buy" rating to a "buy" rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $39.00.

LATAM Airlines Group Stock Up 1.3%

LTM traded up $0.65 during trading on Tuesday, reaching $50.91. 1,237,007 shares of the company's stock were exchanged, compared to its average volume of 657,129. The business has a 50 day moving average price of $43.31 and a 200 day moving average price of $36.78. LATAM Airlines Group S.A. has a fifty-two week low of $23.59 and a fifty-two week high of $51.04. The company has a market capitalization of $15.39 billion, a P/E ratio of 13.09, a PEG ratio of 0.49 and a beta of 3.59.

LATAM Airlines Group Company Profile

LATAM Airlines Group SA, together with its subsidiaries, provides passenger and cargo air transportation services in Peru, Argentina, the United States, Europe, Colombia, Brazil, Ecuador, Chile, the Asia Pacific, and rest of Latin America. The company operates in two segments, Air Transportation; and Multiplus Coalition and Loyalty Program.