Tudor Investment Corp ET AL Acquires New Stake in LATAM Airlines Group S.A. $LTM

Key Points

• Tudor Investment Corp acquired a new stake of 80,936 shares in LATAM Airlines Group (NYSE:LTM) valued at about $3.66 million, while other institutions also boosted positions — notably JPMorgan raised its stake to 535,389 shares (~$24.2M) and SPX Gestao now owns 935,321 shares (~$42.3M).
• Wall Street sentiment is mixed-but-positive with a consensus "Moderate Buy" and a $62.28 target; LATAM recently beat expectations with EPS $1.69 vs. $1.35 and $3.95B revenue, and the stock trades around $53 with a $16.04B market cap.

Tudor Investment Corp ET AL acquired a new stake in LATAM Airlines Group S.A. (NYSE:LTM - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 80,936 shares of the transportation company's stock, valued at approximately $3,662,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of LATAM Airlines Group by 79.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 535,389 shares of the transportation company's stock valued at $24,226,000 after buying an additional 237,363 shares during the period. BlueCrest Capital Management Ltd purchased a new stake in shares of LATAM Airlines Group in the 3rd quarter valued at $2,262,000. Element Capital Management LLC purchased a new stake in shares of LATAM Airlines Group in the 3rd quarter valued at $1,288,000. SPX Gestao de Recursos Ltda raised its holdings in shares of LATAM Airlines Group by 3,884.5% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 935,321 shares of the transportation company's stock valued at $42,323,000 after buying an additional 911,847 shares during the period. Finally, Monashee Investment Management LLC raised its holdings in shares of LATAM Airlines Group by 68.8% in the 3rd quarter. Monashee Investment Management LLC now owns 135,000 shares of the transportation company's stock valued at $6,109,000 after buying an additional 55,000 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of LATAM Airlines Group in a report on Thursday, January 22nd. Zacks Research downgraded LATAM Airlines Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 10th. Barclays cut their price objective on LATAM Airlines Group from $75.00 to $67.00 and set an "overweight" rating on the stock in a report on Tuesday, March 24th. Citigroup raised LATAM Airlines Group from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $53.00 to $58.00 in a research note on Tuesday, March 17th. Finally, Morgan Stanley raised LATAM Airlines Group from an "equal weight" rating to an "overweight" rating and lowered their target price for the stock from $61.00 to $60.00 in a research note on Thursday, March 26th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.28.

LATAM Airlines Group Price Performance

LTM opened at $53.06 on Friday. LATAM Airlines Group S.A. has a 12 month low of $27.50 and a 12 month high of $70.42. The stock has a market capitalization of $16.04 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 0.42 and a beta of 3.93. The business has a fifty day moving average price of $54.38 and a 200 day moving average price of $51.54.

LATAM Airlines Group (NYSE:LTM - Get Free Report) last released its earnings results on Wednesday, February 4th. The transportation company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.35 by $0.34. LATAM Airlines Group had a return on equity of 136.61% and a net margin of 10.07%.The firm had revenue of $3.95 billion during the quarter, compared to analysts' expectations of $3.81 billion. On average, research analysts anticipate that LATAM Airlines Group S.A. will post 3.37 earnings per share for the current 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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