LATAM Airlines Group S.A. (NYSE:LTM) Short Interest Down 38.2% in August

Key Points

• Short interest fell 38.2% to 1.85 million shares as of August 31, representing about 0.7% of LATAM Airlines Group’s outstanding shares and a days-to-cover ratio of 2.0.
• LATAM shares traded at $50.51, up 0.2%, while the company reported quarterly EPS of $0.44 and revenue of $4.12 billion—both above analyst expectations.
• Analysts maintain a “Moderate Buy” consensus rating, with six Buy ratings and two Holds and an average price target of $66.27.

LATAM Airlines Group S.A. (NYSE:LTM - Get Free Report) saw a large drop in short interest in August. As of August 31st, there was short interest totaling 1,850,400 shares, a drop of 38.2% from the August 15th total of 2,995,971 shares. Based on an average trading volume of 914,153 shares, the days-to-cover ratio is currently 2.0 days. Approximately 0.7% of the shares of the stock are short sold.

LATAM Airlines Group Stock Up 0.2%

LATAM Airlines Group stock traded up $0.11 during mid-day trading on Wednesday, reaching $50.51. 294,152 shares of the company's stock were exchanged, compared to its average volume of 1,058,222. The business's fifty day simple moving average is $52.68 and its 200 day simple moving average is $51.87. The firm has a market capitalization of $14.50 billion, a PE ratio of 9.29, a P/E/G ratio of 1.23 and a beta of 3.64. LATAM Airlines Group has a one year low of $41.41 and a one year high of $70.42.

LATAM Airlines Group (NYSE:LTM - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.03. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.06 billion. LATAM Airlines Group had a return on equity of 101.21% and a net margin of 9.69%. On average, sell-side analysts forecast that LATAM Airlines Group will post 4.96 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Assetmark Inc. lifted its position in shares of LATAM Airlines Group by 684.3% during the first quarter. Assetmark Inc. now owns 1,302 shares of the transportation company's stock worth $64,000 after acquiring an additional 1,136 shares in the last quarter. Leonteq Securities AG purchased a new stake in LATAM Airlines Group during the 4th quarter worth about $78,000. GAMMA Investing LLC boosted its stake in LATAM Airlines Group by 26.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,647 shares of the transportation company's stock worth $96,000 after purchasing an additional 342 shares during the period. Royal Bank of Canada boosted its stake in LATAM Airlines Group by 22.3% in the 1st quarter. Royal Bank of Canada now owns 3,268 shares of the transportation company's stock worth $162,000 after purchasing an additional 596 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in LATAM Airlines Group by 6.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,122 shares of the transportation company's stock valued at $169,000 after buying an additional 198 shares in the last quarter.

Analyst Ratings Changes

Several research firms recently commented on LTM. Jefferies Financial Group started coverage on shares of LATAM Airlines Group in a research report on Thursday, June 18th. They set a "buy" rating and a $70.00 target price on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of LATAM Airlines Group in a research note on Friday, July 17th. Wall Street Zen cut shares of LATAM Airlines Group from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 8th. Zacks Research lowered shares of LATAM Airlines Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 17th. Finally, JPMorgan Chase & Co. initiated coverage on LATAM Airlines Group in a report on Wednesday, June 3rd. They issued an "overweight" rating and a $70.00 price target on the stock. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.27.

About LATAM Airlines Group

LATAM Airlines Group SA is a Chile-based airline holding company and one of the largest airline groups in Latin America. Through its operating affiliates and commercial brands, the company provides scheduled passenger and air cargo transportation on domestic and international routes.

LATAM serves markets across South America, including Chile, Brazil, Colombia, Ecuador and Peru, and connects the region with destinations in North America, Europe, Oceania and other international markets. Its passenger services include multiple travel classes and related offerings, while its cargo operations transport freight using both dedicated aircraft and passenger aircraft capacity.

The group was formed in 2012 through the merger of Chile's LAN Airlines and Brazil's TAM Airlines.

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