LATAM Airlines Group S.A. (NYSE:LTM) Short Interest Up 111.4% in September

Key Points

• Short interest in LATAM Airlines Group increased by 111.4% in September, reaching a total of 2,600,000 shares, indicating growing bearish sentiment among investors.
• Multiple analysts have downgraded LATAM's stock rating, with the consensus currently at a "Hold" and an average price target of $38.00.
• Hedge funds have significantly increased their stakes in LATAM Airlines Group, with some firms like Robeco Institutional Asset Management B.V. boosting their holdings by over 100%.

LATAM Airlines Group S.A. (NYSE:LTM - Get Free Report) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 2,600,000 shares, a growth of 111.4% from the September 15th total of 1,230,000 shares. Approximately 0.9% of the company's stock are short sold. Based on an average daily trading volume, of 1,590,000 shares, the days-to-cover ratio is presently 1.6 days. Based on an average daily trading volume, of 1,590,000 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.9% of the company's stock are short sold.

Analysts Set New Price Targets

LTM has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of LATAM Airlines Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, October 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of LATAM Airlines Group in a research report on Wednesday, October 8th. Finally, Zacks Research downgraded shares of LATAM Airlines Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $38.00.

Hedge Funds Weigh In On LATAM Airlines Group

Hedge funds have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. boosted its stake in LATAM Airlines Group by 101.2% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 309,213 shares of the transportation company's stock worth $12,566,000 after purchasing an additional 155,553 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in LATAM Airlines Group by 1,028.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 139,478 shares of the transportation company's stock worth $4,363,000 after purchasing an additional 127,123 shares in the last quarter. Kiker Wealth Management LLC bought a new position in LATAM Airlines Group during the 2nd quarter valued at about $1,459,000. U S Global Investors Inc. purchased a new stake in shares of LATAM Airlines Group during the 2nd quarter valued at about $4,349,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of LATAM Airlines Group in the second quarter worth approximately $4,458,000.

LATAM Airlines Group Price Performance

LATAM Airlines Group stock traded up $0.47 during mid-day trading on Monday, reaching $45.05. The stock had a trading volume of 620,990 shares, compared to its average volume of 2,343,513. The company has a market capitalization of $13.62 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 0.43 and a beta of 3.60. The company has a 50-day moving average price of $46.30 and a two-hundred day moving average price of $40.16. LATAM Airlines Group has a one year low of $26.16 and a one year high of $52.54.

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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