LATAM Airlines Group (NYSE:LTM) Hits New 12-Month High - Here's Why

Key Points

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LATAM Airlines Group S.A. (NYSE:LTM - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $45.35 and last traded at $45.21, with a volume of 1397599 shares changing hands. The stock had previously closed at $44.13.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of LATAM Airlines Group from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat.com, LATAM Airlines Group has a consensus rating of "Buy" and an average price target of $39.00.

LATAM Airlines Group Trading Up 1.5%

The stock's 50 day moving average price is $41.71 and its two-hundred day moving average price is $35.88. The firm has a market capitalization of $13.90 billion, a PE ratio of 11.82, a PEG ratio of 0.44 and a beta of 3.58.

Institutional Trading of LATAM Airlines Group

A number of hedge funds have recently bought and sold shares of the company. Jefferies Financial Group Inc. acquired a new stake in LATAM Airlines Group during the fourth quarter worth approximately $1,754,597,000. Deutsche Bank AG boosted its position in LATAM Airlines Group by 24.5% during the fourth quarter. Deutsche Bank AG now owns 2,035,000 shares of the transportation company's stock worth $56,125,000 after acquiring an additional 400,000 shares during the last quarter. Farallon Capital Management LLC boosted its position in LATAM Airlines Group by 105.9% during the fourth quarter. Farallon Capital Management LLC now owns 618,469 shares of the transportation company's stock worth $17,057,000 after acquiring an additional 318,092 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in LATAM Airlines Group during the second quarter worth approximately $17,317,000. Finally, Aubrey Capital Management Ltd boosted its position in LATAM Airlines Group by 19.1% during the second quarter. Aubrey Capital Management Ltd now owns 335,153 shares of the transportation company's stock worth $13,620,000 after acquiring an additional 53,753 shares during the last quarter.

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.