SPX Gestao de Recursos Ltda Has $43.60 Million Position in LATAM Airlines Group S.A. $LTM

Key Points

• SPX Gestao de Recursos Ltda increased its stake in LATAM Airlines Group by 168.5% in the first quarter, bringing its holdings to 881,976 shares worth about $43.6 million.
• LATAM Airlines recently reported better-than-expected quarterly results, with EPS of $2.01 versus the $1.35 estimate and revenue of $4.08 billion versus expectations of $3.96 billion.
• Analyst sentiment remains positive, with multiple firms issuing or maintaining Buy ratings and a consensus price target of $66.27 for the stock.

SPX Gestao de Recursos Ltda boosted its position in LATAM Airlines Group S.A. (NYSE:LTM - Free Report) by 168.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 881,976 shares of the transportation company's stock after acquiring an additional 553,513 shares during the period. LATAM Airlines Group accounts for about 3.6% of SPX Gestao de Recursos Ltda's holdings, making the stock its 9th biggest position. SPX Gestao de Recursos Ltda owned approximately 0.31% of LATAM Airlines Group worth $43,605,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in LATAM Airlines Group by 49.1% during the fourth quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company's stock worth $40,000 after buying an additional 246 shares during the last quarter. Assetmark Inc. increased its position in shares of LATAM Airlines Group by 684.3% during the first quarter. Assetmark Inc. now owns 1,302 shares of the transportation company's stock worth $64,000 after acquiring an additional 1,136 shares in the last quarter. Leonteq Securities AG acquired a new stake in shares of LATAM Airlines Group in the 4th quarter worth about $78,000. Tower Research Capital LLC TRC bought a new position in LATAM Airlines Group in the 2nd quarter valued at about $90,000. Finally, Rhumbline Advisers boosted its stake in LATAM Airlines Group by 113.8% during the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company's stock valued at $100,000 after purchasing an additional 1,700 shares during the last quarter.

LATAM Airlines Group Price Performance

NYSE:LTM opened at $52.56 on Friday. The business has a fifty day simple moving average of $52.92 and a two-hundred day simple moving average of $54.23. LATAM Airlines Group S.A. has a 1 year low of $40.52 and a 1 year high of $70.42. The company has a market capitalization of $15.09 billion, a P/E ratio of 9.05, a P/E/G ratio of 1.06 and a beta of 3.61.

LATAM Airlines Group (NYSE:LTM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The transportation company reported $2.01 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $3.96 billion. As a group, analysts anticipate that LATAM Airlines Group S.A. will post 5.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LTM. Wall Street Zen upgraded LATAM Airlines Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 23rd. The Goldman Sachs Group restated a "buy" rating and set a $72.60 price target on shares of LATAM Airlines Group in a report on Tuesday, May 12th. Morgan Stanley raised shares of LATAM Airlines Group from an "equal weight" rating to an "overweight" rating and reduced their price objective for the stock from $61.00 to $60.00 in a research report on Thursday, March 26th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of LATAM Airlines Group in a report on Tuesday, April 21st. Finally, Jefferies Financial Group began coverage on LATAM Airlines Group in a research report on Thursday, June 18th. They issued a "buy" rating and a $70.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price 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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