LATAM Airlines Group (NYSE:LTM) Sets New 1-Year High - Here's What Happened

LATAM Airlines Group S.A. (NYSE:LTM - Get Free Report) shares reached a new 52-week high on Thursday . The stock traded as high as $42.60 and last traded at $42.58, with a volume of 392703 shares changing hands. The stock had previously closed at $41.99.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of LATAM Airlines Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, LATAM Airlines Group presently has a consensus rating of "Buy" and an average target price of $38.00.

LATAM Airlines Group Stock Up 1.4%

The firm has a market capitalization of $12.87 billion, a PE ratio of 11.96, a PEG ratio of 0.69 and a beta of 3.58. The stock's fifty day simple moving average is $38.64 and its 200 day simple moving average is $33.16.

LATAM Airlines Group (NYSE:LTM - Get Free Report) last announced its earnings results on Tuesday, April 29th. The transportation company reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.57. LATAM Airlines Group had a net margin of 8.25% and a return on equity of 148.44%. The business had revenue of $3.41 billion during the quarter, compared to analysts' expectations of $3.39 billion. On average, analysts predict that LATAM Airlines Group S.A. will post 3.37 EPS for the current year.

Institutional Trading of LATAM Airlines Group

A number of hedge funds and other institutional investors have recently modified their holdings of LTM. Jefferies Financial Group Inc. purchased a new stake in shares of LATAM Airlines Group in the fourth quarter worth $1,754,597,000. Deutsche Bank AG boosted its position in shares of LATAM Airlines Group by 24.5% during the fourth quarter. Deutsche Bank AG now owns 2,035,000 shares of the transportation company's stock worth $56,125,000 after acquiring an additional 400,000 shares during the last quarter. Farallon Capital Management LLC boosted its position in shares of LATAM Airlines Group by 105.9% during the fourth quarter. Farallon Capital Management LLC now owns 618,469 shares of the transportation company's stock worth $17,057,000 after acquiring an additional 318,092 shares during the last quarter. Aubrey Capital Management Ltd bought a new position in shares of LATAM Airlines Group during the first quarter worth $8,802,000. Finally, Cubist Systematic Strategies LLC boosted its position in shares of LATAM Airlines Group by 1,028.9% during the first quarter. Cubist Systematic Strategies LLC now owns 139,478 shares of the transportation company's stock worth $4,363,000 after acquiring an additional 127,123 shares during the last quarter.

About LATAM Airlines Group

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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