LATAM Airlines Group (NYSE:LTM) Sees Large Volume Increase - Here's Why

Key Points

• LATAM Airlines shares fell 7.8% to $41.79, despite trading volume remaining elevated at roughly 1.01 million shares.
• Analyst sentiment remains generally positive, with six Buy ratings and two Hold ratings; the stock has a “Moderate Buy” consensus and an average price target of $66.27, although several firms recently downgraded it.
• The company exceeded quarterly expectations, reporting $0.44 in EPS versus the $0.41 consensus and $4.12 billion in revenue versus $4.06 billion expected. Institutional ownership also increased, including a substantial share purchase by Ninety One UK.

LATAM Airlines Group S.A. (NYSE:LTM - Get Free Report) saw unusually-strong trading volume on Monday. Approximately 1,011,710 shares changed hands during trading, a decline of 0% from the previous session's volume of 1,016,515 shares. The stock last traded at $41.79 and had previously closed at $46.27.

Analysts Set New Price Targets

Several equities analysts have commented on LTM shares. Wall Street Zen downgraded LATAM Airlines Group from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 8th. Zacks Research lowered LATAM Airlines Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 17th. Finally, Weiss Ratings downgraded LATAM Airlines Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, September 25th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, LATAM Airlines Group has an average rating of "Moderate Buy" and an average target price of $66.27.

LATAM Airlines Group Trading Down 7.8%

The company has a market capitalization of $12.25 billion, a PE ratio of 7.83, a PEG ratio of 1.15 and a beta of 3.64. The firm's 50-day simple moving average is $50.64 and its 200-day simple moving average is $51.91.

LATAM Airlines Group (NYSE:LTM - Get Free Report) last issued its earnings results on Tuesday, August 4th. The transportation company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.03. LATAM Airlines Group had a net margin of 9.69% and a return on equity of 101.21%. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.06 billion. As a group, analysts anticipate that LATAM Airlines Group S.A. will post 4.82 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Signaturefd LLC raised its position in LATAM Airlines Group by 41.4% during the 3rd quarter. Signaturefd LLC now owns 1,448 shares of the transportation company's stock valued at $72,000 after purchasing an additional 424 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of LATAM Airlines Group in the 3rd quarter worth $489,000. Ninety One UK Ltd grew its position in shares of LATAM Airlines Group by 36.1% during the 3rd quarter. Ninety One UK Ltd now owns 2,457,525 shares of the transportation company's stock worth $122,606,000 after buying an additional 651,218 shares in the last quarter. Ninety One North America Inc. grew its position in shares of LATAM Airlines Group by 1.6% during the 3rd quarter. Ninety One North America Inc. now owns 629,861 shares of the transportation company's stock worth $31,424,000 after buying an additional 9,750 shares in the last quarter. Finally, Mather Group LLC. bought a new position in shares of LATAM Airlines Group during the 3rd quarter worth $26,000.

About LATAM Airlines Group

LATAM Airlines Group SA is a Chile-based airline holding company and one of the largest air transportation groups in Latin America. The group provides scheduled passenger and cargo services through affiliated airlines operating under the LATAM brand, connecting major cities within Latin America and serving destinations in North America, Europe, the Caribbean, Africa and Oceania.

Its passenger business includes domestic and international flights, while its cargo operations transport freight using dedicated aircraft and cargo capacity on passenger flights.

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