LATAM Airlines Group (NYSE:LTM) Raised to "Strong-Buy" at Wall Street Zen

Key Points

• LATAM Airlines Group (NYSE:LTM) has been upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating, indicating increased investor confidence.
• The stock currently has a market capitalization of $14.25 billion and recent trading data shows a 1-year price range between $24.38 and $52.54.
• Significant institutional investments include Jefferies Financial Group acquiring a new position valued at approximately $1.75 billion during the last quarter.

Wall Street Zen upgraded shares of LATAM Airlines Group (NYSE:LTM - Free Report) from a buy rating to a strong-buy rating in a research report released on Saturday.

LATAM Airlines Group Trading Up 2.3%

Shares of LTM traded up $1.08 during midday trading on Friday, reaching $48.70. 380,590 shares of the company were exchanged, compared to its average volume of 736,708. The stock has a 50-day moving average price of $45.67 and a 200-day moving average price of $38.50. The company has a market cap of $14.72 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 0.46 and a beta of 3.59. LATAM Airlines Group has a 1-year low of $24.38 and a 1-year high of $52.54.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC lifted its stake in shares of LATAM Airlines Group by 1,028.9% in the first quarter. Cubist Systematic Strategies LLC now owns 139,478 shares of the transportation company's stock worth $4,363,000 after acquiring an additional 127,123 shares in the last quarter. Penserra Capital Management LLC acquired a new position in shares of LATAM Airlines Group in the first quarter worth about $295,000. XTX Topco Ltd acquired a new position in shares of LATAM Airlines Group in the first quarter worth about $404,000. Goldman Sachs Group Inc. lifted its stake in shares of LATAM Airlines Group by 133.9% in the first quarter. Goldman Sachs Group Inc. now owns 40,258 shares of the transportation company's stock worth $1,259,000 after acquiring an additional 23,044 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of LATAM Airlines Group by 91.5% in the first quarter. Robeco Institutional Asset Management B.V. now owns 153,660 shares of the transportation company's stock worth $4,806,000 after acquiring an additional 73,400 shares in the last quarter.

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.