LATAM Airlines Group (NYSE:LTM) Hits New 1-Year High - Here's What Happened

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.

Shares of LATAM Airlines Group S.A. (NYSE:LTM - Get Free Report) hit 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 changing hands. The stock had previously closed at $46.01.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of LATAM Airlines Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $39.00.

LATAM Airlines Group Stock Down 0.5%

The stock has a market cap of $15.18 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 0.49 and a beta of 3.58. The firm has a fifty day moving average of $43.06 and a 200 day moving average of $36.60.

Institutional Investors Weigh In On LATAM Airlines Group

A number of institutional investors and hedge funds have recently bought and sold shares of LTM. Blue Trust Inc. grew its holdings in shares of LATAM Airlines Group by 44.9% during the first quarter. Blue Trust Inc. now owns 1,949 shares of the transportation company's stock worth $61,000 after purchasing an additional 604 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position 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 purchasing an additional 1,918 shares during the period. Tower Research Capital LLC TRC acquired a new stake in shares of LATAM Airlines Group in the 2nd quarter valued at about $90,000. Rhumbline Advisers grew 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 worth $100,000 after buying an additional 1,700 shares during the last quarter. Finally, Liontrust Investment Partners LLP acquired a new position in LATAM Airlines Group during the first quarter worth approximately $182,000.

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.