LATAM Airlines Group (NYSE:LTM) Shares Cross Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• LATAM Airlines Group's shares have surpassed their 200-day moving average, trading at $48.37 compared to an average of $37.77.
• The stock rating was downgraded from a "strong-buy" to a "buy" by Wall Street Zen, although it still holds an average rating of "Buy" with a consensus price target of $39.00.
• Notable institutional investors have recently acquired new positions in LATAM Airlines, with Jefferies Financial Group leading at approximately $1.75 billion invested.

LATAM Airlines Group S.A. (NYSE:LTM - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $37.77 and traded as high as $48.83. LATAM Airlines Group shares last traded at $48.37, with a volume of 2,233,038 shares traded.

Analyst Upgrades and Downgrades

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

LATAM Airlines Group Trading Down 0.8%

The company has a market cap of $14.62 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 0.47 and a beta of 3.59. The firm's 50-day moving average price is $44.92 and its 200 day moving average price is $37.77.

Institutional Trading of LATAM Airlines Group

Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP acquired a new stake in LATAM Airlines Group in the fourth quarter valued at approximately $885,000. Northern Trust Corp acquired a new position in shares of LATAM Airlines Group during the fourth quarter worth approximately $942,000. BNP Paribas Financial Markets acquired a new position in shares of LATAM Airlines Group during the fourth quarter worth approximately $1,042,000. Cubist Systematic Strategies LLC raised its position in shares of LATAM Airlines Group by 17.9% during the fourth quarter. Cubist Systematic Strategies LLC now owns 12,355 shares of the transportation company's stock worth $341,000 after purchasing an additional 1,879 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new position in shares of LATAM Airlines Group during the fourth quarter worth approximately $1,754,597,000.

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.

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