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

Key Points

• LATAM Airlines Group experienced a significant increase in trading volume with approximately 1.4 million shares exchanged on Monday, marking a 96% rise from the previous session.
• The stock received a downgrade from "strong-buy" to "buy" by Wall Street Zen, though it still holds a consensus rating of "Buy" with an average price target of $39.00.
• Institutional investors were active, with notable purchases including Jefferies Financial Group acquiring a new position valued at approximately $1.75 billion in LATAM Airlines.

LATAM Airlines Group S.A. (NYSE:LTM - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 1,417,924 shares changed hands during trading, an increase of 96% from the previous session's volume of 721,954 shares.The stock last traded at $48.88 and had previously closed at $48.39.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded LATAM Airlines Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $39.00.

LATAM Airlines Group Trading Down 0.7%

The stock has a market capitalization of $14.52 billion, a PE ratio of 12.35, a P/E/G ratio of 0.47 and a beta of 3.59. The stock has a 50 day moving average price of $44.92 and a 200-day moving average price of $37.85.

Hedge Funds Weigh In On LATAM Airlines Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jefferies Financial Group Inc. purchased a new position in LATAM Airlines Group during the fourth quarter valued at $1,754,597,000. Arrowstreet Capital Limited Partnership purchased a new position in LATAM Airlines Group during the second quarter valued at $17,317,000. Aubrey Capital Management Ltd lifted its position in LATAM Airlines Group by 19.1% during the second quarter. Aubrey Capital Management Ltd now owns 335,153 shares of the transportation company's stock valued at $13,620,000 after purchasing an additional 53,753 shares in the last quarter. BNP Paribas Financial Markets lifted its position in LATAM Airlines Group by 562.0% during the second quarter. BNP Paribas Financial Markets now owns 331,959 shares of the transportation company's stock valued at $13,491,000 after purchasing an additional 281,816 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in LATAM Airlines Group by 101.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 309,213 shares of the transportation company's stock valued at $12,566,000 after purchasing an additional 155,553 shares in 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.