LATAM Airlines Group (NYSE:LTM) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• LATAM Airlines Group shares surpassed their 200-day moving average, trading at $43.50, compared to a moving average of $34.17.
• Wall Street analysts downgraded the stock from a "strong-buy" to a "buy" rating, with a consensus price target of $38.00.
• The company reported strong quarterly earnings, with $1.18 earnings per share, significantly exceeding analysts' expectations of $0.61.

Shares of LATAM Airlines Group S.A. (NYSE:LTM - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $34.17 and traded as high as $43.66. LATAM Airlines Group shares last traded at $43.50, with a volume of 1,168,586 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of LATAM Airlines Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Three analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, LATAM Airlines Group has an average rating of "Buy" and a consensus target price of $38.00.

LATAM Airlines Group Stock Up 0.4%

The business's 50 day moving average is $40.18 and its two-hundred day moving average is $34.40. The firm has a market cap of $13.04 billion, a P/E ratio of 11.09, a P/E/G ratio of 0.42 and a beta of 3.58.

Institutional Investors Weigh In On LATAM Airlines Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. increased its position in shares of LATAM Airlines Group by 44.9% during the first quarter. Blue Trust Inc. now owns 1,949 shares of the transportation company's stock worth $61,000 after acquiring an additional 604 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in LATAM Airlines Group by 761.1% during the second quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the transportation company's stock worth $88,000 after purchasing an additional 1,918 shares during the last quarter. Rhumbline Advisers boosted its stake in LATAM Airlines Group by 113.8% in the first quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company's stock valued at $100,000 after acquiring an additional 1,700 shares during the last quarter. Liontrust Investment Partners LLP purchased a new position in LATAM Airlines Group in the first quarter valued at about $182,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in LATAM Airlines Group in the fourth quarter valued at about $212,000.

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.