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

Key Points

• LATAM Airlines Group's share price reached a new 52-week high of $48.25, up from a previous close of $46.01.
• Wall Street Zen upgraded LATAM Airlines' rating from "buy" to "strong-buy." The current consensus price target for the stock is $39.00.
• The company has seen significant interest from institutional investors, with one firm, Caitong International Asset Management, increasing its holdings by 761.1% in the last quarter.

LATAM Airlines Group S.A. (NYSE:LTM - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $48.11 and last traded at $48.25, with a volume of 805368 shares traded. The stock had previously closed at $46.01.

Wall Street Analyst Weigh In

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

LATAM Airlines Group Price Performance

The stock has a market cap of $14.55 billion, a P/E ratio of 12.38, a PEG ratio of 0.47 and a beta of 3.58. The business's 50 day simple moving average is $41.91 and its 200 day simple moving average is $36.04.

Institutional Trading of LATAM Airlines Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. grew its holdings in LATAM Airlines Group by 44.9% during the 1st quarter. Blue Trust Inc. now owns 1,949 shares of the transportation company's stock worth $61,000 after acquiring an additional 604 shares during the period. Liontrust Investment Partners LLP grew its holdings in shares of LATAM Airlines Group by 15.3% in the 2nd quarter. Liontrust Investment Partners LLP now owns 6,722 shares of the transportation company's stock valued at $273,000 after buying an additional 891 shares during the period. Rhumbline Advisers grew its holdings in shares of 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. Cubist Systematic Strategies LLC grew its holdings in shares of LATAM Airlines Group by 17.9% in the 4th quarter. Cubist Systematic Strategies LLC now owns 12,355 shares of the transportation company's stock valued at $341,000 after buying an additional 1,879 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of 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 period.

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.

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