LATAM Airlines Group (NYSE:LTM) Sees Large Volume Increase - Still a Buy?

Key Points

• LATAM Airlines Group shares experienced a significant trading volume increase of 203%, with 1,584,471 shares traded, despite the stock price dropping to $43.31.
• Analysts have upgraded LATAM Airlines Group from a "buy" to a "strong-buy" rating, with an average price target of $38.00.
• The company's market capitalization is $13.18 billion, with a PE ratio of 11.21, indicating strong interest from institutional investors recent quarter gains.

LATAM Airlines Group S.A. (NYSE:LTM - Get Free Report) shares saw strong trading volume on Thursday . 1,584,471 shares were traded during trading, an increase of 203% from the previous session's volume of 523,635 shares.The stock last traded at $43.31 and had previously closed at $44.75.

Analyst Upgrades and Downgrades

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. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $38.00.

LATAM Airlines Group Stock Performance

The business's 50-day moving average is $41.03 and its two-hundred day moving average is $35.27. The stock has a market capitalization of $13.18 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 0.42 and a beta of 3.58.

Institutional Investors Weigh In On LATAM Airlines Group

Several institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. acquired a new position in shares of LATAM Airlines Group during the 4th quarter worth $704,000. Jump Financial LLC purchased a new stake in shares of LATAM Airlines Group during the 4th quarter worth about $378,000. Dimensional Fund Advisors LP purchased a new stake in shares of LATAM Airlines Group during the 4th quarter worth about $885,000. Northern Trust Corp purchased a new stake in shares of LATAM Airlines Group during the 4th quarter worth about $942,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of LATAM Airlines Group during the 4th quarter worth about $212,000.

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.

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