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

Key Points

• LATAM Airlines Group's stock saw a significant increase in trading volume of 379%, with 3,647,138 shares traded on Thursday compared to 761,904 shares previously.
• Wall Street Zen upgraded LATAM Airlines' stock rating from "buy" to "strong-buy," with a current average target price of $39.00.
• Several large investors have increased their stakes in LATAM Airlines, with notable increases such as 761.1% by Caitong International Asset Management in the second quarter.

Shares of LATAM Airlines Group S.A. (NYSE:LTM - Get Free Report) saw strong trading volume on Thursday . 3,647,138 shares changed hands during mid-day trading, an increase of 379% from the previous session's volume of 761,904 shares.The stock last traded at $44.14 and had previously closed at $45.97.

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 research note on Saturday, September 20th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $39.00.

LATAM Airlines Group Trading Down 3.7%

The company has a market capitalization of $13.37 billion, a PE ratio of 11.41, a PEG ratio of 0.46 and a beta of 3.59. The firm's 50-day simple moving average is $45.86 and its 200-day simple moving average is $38.70.

Institutional Investors Weigh In On LATAM Airlines Group

Several large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its holdings in shares of LATAM Airlines Group by 44.9% in the 1st quarter. Blue Trust Inc. now owns 1,949 shares of the transportation company's stock valued at $61,000 after purchasing an additional 604 shares in the last quarter. Liontrust Investment Partners LLP increased its stake in LATAM Airlines Group by 15.3% during the 2nd quarter. Liontrust Investment Partners LLP now owns 6,722 shares of the transportation company's stock valued at $273,000 after purchasing an additional 891 shares in the last quarter. Rhumbline Advisers increased 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 valued at $100,000 after purchasing an additional 1,700 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted 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 acquiring an additional 1,918 shares during the last quarter. Finally, Engineers Gate Manager LP boosted its holdings in shares of LATAM Airlines Group by 12.6% in the 2nd quarter. Engineers Gate Manager LP now owns 18,668 shares of the transportation company's stock valued at $759,000 after acquiring an additional 2,082 shares during the last quarter.

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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