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

Key Points

• LATAM Airlines Group's stock has crossed above its 200-day moving average, indicating a potential bullish trend, with current trading at $44.65.
• The company recently received an upgrade from Wall Street Zen, raising its rating from "buy" to "strong-buy," contributing to a consensus target price of $39.00.
• Institutional investment in LATAM Airlines has significantly increased, with notable growth from firms like Caitong International Asset Management, who raised its holdings by 761.1% in the second quarter.

LATAM Airlines Group S.A. (NYSE:LTM - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $38.95 and traded as high as $45.33. LATAM Airlines Group shares last traded at $44.65, with a volume of 3,659,822 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of LATAM Airlines Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 20th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $39.00.

LATAM Airlines Group Stock Up 0.5%

The firm has a market capitalization of $13.49 billion, a PE ratio of 11.48, a P/E/G ratio of 0.43 and a beta of 3.59. The business's fifty day moving average price is $46.01 and its 200 day moving average price is $38.95.

Institutional Investors Weigh In On LATAM Airlines Group

A number of hedge funds and other institutional investors have recently modified their holdings of LTM. Blue Trust Inc. grew its holdings 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 buying an additional 604 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in LATAM Airlines Group by 761.1% in the second quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the transportation company's stock valued at $88,000 after purchasing an additional 1,918 shares during the period. Tower Research Capital LLC TRC purchased a new stake in LATAM Airlines Group in the second quarter valued at approximately $90,000. Rhumbline Advisers grew its holdings 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 purchasing an additional 1,700 shares during the period. Finally, Liontrust Investment Partners LLP purchased a new stake in LATAM Airlines Group in the first quarter valued at approximately $182,000.

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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