Scoggin Management LP Purchases 25,000 Shares of LATAM Airlines Group S.A. $LTM

Key Points

• Scoggin Management LP increased its holdings in LATAM Airlines Group S.A. by 25% during the first quarter, owning a total of 125,000 shares valued at approximately $3.91 million.
• Several institutional investors, including Cubist Systematic Strategies LLC, significantly boosted their positions in LATAM Airlines, showcasing a growing interest in the company.
• Analysts have adjusted their ratings on LATAM Airlines Group from "strong-buy" to "buy," with the stock receiving an average rating of "Buy" and a target price of $39.00.

Scoggin Management LP boosted its holdings in shares of LATAM Airlines Group S.A. (NYSE:LTM - Free Report) by 25.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,000 shares of the transportation company's stock after buying an additional 25,000 shares during the period. LATAM Airlines Group makes up about 1.1% of Scoggin Management LP's holdings, making the stock its 20th biggest position. Scoggin Management LP's holdings in LATAM Airlines Group were worth $3,910,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. increased its holdings in shares of LATAM Airlines Group by 44.9% in the 1st quarter. Blue Trust Inc. now owns 1,949 shares of the transportation company's stock valued at $61,000 after purchasing an additional 604 shares during the period. Rhumbline Advisers increased its stake 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 during the period. Liontrust Investment Partners LLP acquired a new position in LATAM Airlines Group in the 1st quarter valued at approximately $182,000. Schonfeld Strategic Advisors LLC acquired a new position in LATAM Airlines Group in the 4th quarter valued at approximately $212,000. Finally, Penserra Capital Management LLC acquired a new position in LATAM Airlines Group in the 1st quarter valued at approximately $295,000.

LATAM Airlines Group Stock Up 0.3%

LTM stock traded up $0.18 during trading hours on Thursday, hitting $51.43. The company's stock had a trading volume of 912,301 shares, compared to its average volume of 662,066. The company has a market capitalization of $15.54 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 0.49 and a beta of 3.59. LATAM Airlines Group S.A. has a 12 month low of $23.59 and a 12 month high of $52.54. The stock has a 50 day moving average price of $44.01 and a two-hundred day moving average price of $37.14.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of LATAM Airlines Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $39.00.

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.