LATAM Airlines Group (NYSE:LTM) Hits New 12-Month High - What's Next?

Key Points

• LATAM Airlines Group achieved a new 52-week high of $43.70 during trading, closing at $43.52 with a volume of 559,360 shares.
• Wall Street analysts upgraded the stock from a "buy" to a "strong-buy" rating, contributing to a consensus rating of "Buy" and a target price of $38.00.
• The company's market capitalization is approximately $12.98 billion, with significant recent activity from hedge funds increasing their stakes in LATAM Airlines.

Shares of LATAM Airlines Group S.A. (NYSE:LTM - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $43.70 and last traded at $43.52, with a volume of 559360 shares trading hands. The stock had previously closed at $43.39.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of LATAM Airlines Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $38.00.

LATAM Airlines Group Stock Down 0.8%

The firm has a market cap of $12.95 billion, a P/E ratio of 11.03, a PEG ratio of 0.42 and a beta of 3.58. The business has a fifty day moving average of $40.38 and a 200 day moving average of $34.62.

Hedge Funds Weigh In On LATAM Airlines Group

A number of hedge funds and other institutional investors have recently bought and sold shares of LTM. Y Intercept Hong Kong Ltd acquired a new position in LATAM Airlines Group in the 2nd quarter valued at about $909,000. Caitong International Asset Management Co. Ltd grew its stake in LATAM Airlines Group by 761.1% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the transportation company's stock valued at $88,000 after buying an additional 1,918 shares during the last quarter. R Squared Ltd acquired a new position in LATAM Airlines Group in the 2nd quarter valued at about $320,000. Aubrey Capital Management Ltd grew its stake in LATAM Airlines Group by 19.1% in the 2nd quarter. Aubrey Capital Management Ltd now owns 335,153 shares of the transportation company's stock valued at $13,620,000 after buying an additional 53,753 shares during the last quarter. Finally, Kiker Wealth Management LLC acquired a new position in LATAM Airlines Group in the 2nd quarter valued at about $1,459,000.

About LATAM Airlines Group

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.