LATAM Airlines Group (NYSE:LTM) Sees Large Volume Increase - Here's What Happened

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 an uptick in trading volume on Monday . 1,417,924 shares were traded 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.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $39.00.

LATAM Airlines Group Stock Down 0.9%

The company has a 50 day moving average of $45.54 and a 200-day moving average of $38.30. The stock has a market capitalization of $14.25 billion, a P/E ratio of 12.12, a PEG ratio of 0.46 and a beta of 3.59.

Institutional Investors Weigh In On LATAM Airlines Group

Several large investors have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. acquired a new stake in LATAM Airlines Group in the fourth quarter worth $1,754,597,000. Arrowstreet Capital Limited Partnership acquired a new stake in LATAM Airlines Group in the second quarter worth $17,317,000. Aubrey Capital Management Ltd increased its position in LATAM Airlines Group by 19.1% in the second quarter. Aubrey Capital Management Ltd now owns 335,153 shares of the transportation company's stock worth $13,620,000 after buying an additional 53,753 shares during the period. BNP Paribas Financial Markets increased its position in LATAM Airlines Group by 562.0% in the second quarter. BNP Paribas Financial Markets now owns 331,959 shares of the transportation company's stock worth $13,491,000 after buying an additional 281,816 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in LATAM Airlines Group by 101.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 309,213 shares of the transportation company's stock worth $12,566,000 after buying an additional 155,553 shares during the period.

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.