Renaissance Technologies LLC Has $62.65 Million Position in LATAM Airlines Group S.A. $LTM

Key Points

• Renaissance Technologies increased its LATAM Airlines stake by 184.9% in the first quarter, ending with 1.27 million shares valued at approximately $62.65 million, or 0.44% of the company.
• LATAM Airlines reported quarterly EPS of $2.01, beating estimates of $1.35, while revenue reached $4.08 billion versus the $3.96 billion consensus forecast.
• Analysts remain broadly positive, with an average “Buy” rating and a $66.27 price target; shares recently opened at $50.19, below the 52-week high of $70.42.

Renaissance Technologies LLC grew its stake in LATAM Airlines Group S.A. (NYSE:LTM - Free Report) by 184.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,267,200 shares of the transportation company's stock after acquiring an additional 822,400 shares during the quarter. Renaissance Technologies LLC owned 0.44% of LATAM Airlines Group worth $62,650,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. AQR Capital Management LLC bought a new position in LATAM Airlines Group during the 1st quarter worth approximately $3,061,000. Goldman Sachs Group Inc. increased its stake in LATAM Airlines Group by 133.9% in the first quarter. Goldman Sachs Group Inc. now owns 40,258 shares of the transportation company's stock valued at $1,259,000 after purchasing an additional 23,044 shares in the last quarter. Rhumbline Advisers raised its holdings in LATAM Airlines Group by 113.8% in the first quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company's stock worth $100,000 after purchasing an additional 1,700 shares during the period. Quantbot Technologies LP acquired a new stake in LATAM Airlines Group in the second quarter worth $402,000. Finally, First Trust Advisors LP boosted its position in shares of LATAM Airlines Group by 149.1% during the second quarter. First Trust Advisors LP now owns 69,108 shares of the transportation company's stock worth $2,809,000 after purchasing an additional 41,363 shares in the last quarter.

LATAM Airlines Group Stock Performance

Shares of LATAM Airlines Group stock opened at $50.19 on Monday. The business's 50 day simple moving average is $53.15 and its 200 day simple moving average is $54.10. LATAM Airlines Group S.A. has a 52-week low of $41.08 and a 52-week high of $70.42. The firm has a market cap of $14.41 billion, a PE ratio of 8.64, a P/E/G ratio of 1.01 and a beta of 3.61.

LATAM Airlines Group (NYSE:LTM - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The transportation company reported $2.01 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.66. LATAM Airlines Group had a return on equity of 127.75% and a net margin of 11.03%.The firm had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $3.96 billion. As a group, equities research analysts predict that LATAM Airlines Group S.A. will post 5.95 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on LTM shares. Zacks Research upgraded shares of LATAM Airlines Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 7th. Jefferies Financial Group started coverage on LATAM Airlines Group in a research report on Thursday, June 18th. They set a "buy" rating and a $70.00 price target on the stock. JPMorgan Chase & Co. started coverage on LATAM Airlines Group in a research report on Wednesday, June 3rd. They issued an "overweight" rating and a $70.00 price objective for the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of LATAM Airlines Group in a research note on Friday, July 17th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $72.60 price objective on shares of LATAM Airlines Group in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $66.27.

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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