LATAM Airlines Group (NYSE:LTM) Share Price Crosses 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.

Shares of LATAM Airlines Group S.A. (NYSE:LTM - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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 changing hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded LATAM Airlines Group from a "strong-buy" rating to a "buy" rating in a 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $39.00.

LATAM Airlines Group Stock Performance

The stock has a market cap of $14.39 billion, a P/E ratio of 12.24, a PEG ratio of 0.47 and a beta of 3.59. The stock has a fifty day simple moving average of $45.44 and a 200-day simple moving average of $38.24.

Institutional Investors Weigh In On LATAM Airlines Group

Several hedge funds have recently bought and sold shares of LTM. Northern Trust Corp acquired a new stake in LATAM Airlines Group during the fourth quarter worth approximately $942,000. BNP Paribas Financial Markets acquired a new stake in LATAM Airlines Group during the fourth quarter worth approximately $1,042,000. Jefferies Financial Group Inc. acquired a new stake in shares of LATAM Airlines Group in the fourth quarter valued at approximately $1,754,597,000. Quantinno Capital Management LP raised its position in shares of LATAM Airlines Group by 50.4% in the fourth quarter. Quantinno Capital Management LP now owns 20,403 shares of the transportation company's stock valued at $563,000 after buying an additional 6,840 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in shares of LATAM Airlines Group by 141.1% in the fourth quarter. Two Sigma Investments LP now owns 120,830 shares of the transportation company's stock valued at $3,332,000 after buying an additional 70,722 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.