LATAM Airlines Group (NYSE:LTM) Sees Unusually-High Trading Volume - Should You 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.

Shares of LATAM Airlines Group S.A. (NYSE:LTM - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 1,584,471 shares changed hands during mid-day 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.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of LATAM Airlines Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $38.00.

LATAM Airlines Group Stock Up 0.5%

The business has a 50 day moving average price of $41.49 and a 200 day moving average price of $35.71. The stock has a market cap of $13.72 billion, a P/E ratio of 11.67, a PEG ratio of 0.44 and a beta of 3.58.

Hedge Funds Weigh In On LATAM Airlines Group

A number of institutional investors have recently modified their holdings of LTM. Blue Trust Inc. lifted its stake 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 buying an additional 604 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in LATAM Airlines Group by 761.1% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the transportation company's stock worth $88,000 after acquiring an additional 1,918 shares during the period. Tower Research Capital LLC TRC purchased a new stake in LATAM Airlines Group during the 2nd quarter valued at about $90,000. Rhumbline Advisers increased its holdings in shares of LATAM Airlines Group by 113.8% in the first quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company's stock valued at $100,000 after purchasing an additional 1,700 shares during the period. Finally, Liontrust Investment Partners LLP acquired a new position in shares of LATAM Airlines Group in the first quarter valued at about $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.