Pictet Asset Management Holding SA Makes New Investment in LATAM Airlines Group S.A. $LTM

Key Points

• Pictet Asset Management acquired a new Q4 position in LATAM Airlines Group (NYSE:LTM), buying 107,800 shares valued at approximately $5,822,000.
• Analysts hold a consensus of Moderate Buy with an average target price of $62.10, though brokerage opinions are mixed—upgrades from Goldman Sachs and Citigroup and downgrades from Zacks and Wall Street Zen.
• LATAM recently beat quarterly estimates with EPS of $1.69 (vs. $1.35 est.) and $3.95B revenue; the stock trades near $47.24 with a 12‑month range of $31.77–$70.42 and a market cap of $13.56B.

Pictet Asset Management Holding SA acquired a new position in LATAM Airlines Group S.A. (NYSE:LTM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 107,800 shares of the transportation company's stock, valued at approximately $5,822,000.

Other institutional investors have also added to or reduced their stakes in 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 worth $40,000 after purchasing an additional 246 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in LATAM Airlines Group in the 2nd quarter worth about $90,000. 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 worth $129,000 after purchasing an additional 391 shares in the last quarter. 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 worth $132,000 after purchasing an additional 2,330 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in LATAM Airlines Group by 39.5% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,028 shares of the transportation company's stock worth $137,000 after purchasing an additional 858 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have issued reports on LTM. Barclays reduced their price objective on shares of LATAM Airlines Group from $75.00 to $67.00 and set an "overweight" rating for the company in a research report on Tuesday, March 24th. The Goldman Sachs Group raised 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. Zacks Research downgraded shares of LATAM Airlines Group from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 21st. Citigroup raised shares of LATAM Airlines Group from a "neutral" rating to a "buy" rating and increased their target price for the company from $53.00 to $58.00 in a research report on Tuesday, March 17th. Finally, Wall Street Zen downgraded shares of LATAM Airlines Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $62.10.

LATAM Airlines Group Stock Down 0.1%

LATAM Airlines Group stock opened at $47.24 on Monday. LATAM Airlines Group S.A. has a twelve month low of $31.77 and a twelve month high of $70.42. The firm has a 50 day moving average price of $51.00 and a 200-day moving average price of $52.45. The company has a market capitalization of $13.56 billion, a P/E ratio of 9.48, a P/E/G ratio of 1.31 and a beta of 3.62.

LATAM Airlines Group (NYSE:LTM - Get Free Report) last released its earnings results on Wednesday, February 4th. The transportation company reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.34. The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.81 billion. LATAM Airlines Group had a net margin of 10.07% and a return on equity of 136.61%. Equities analysts expect that LATAM Airlines Group S.A. will post 4.31 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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