Wall Street Zen Downgrades LATAM Airlines Group (NYSE:LTM) to Buy

Key Points

• LATAM Airlines Group received a downgrade from Wall Street Zen, changing its rating from "strong-buy" to "buy".
• The stock is currently priced at $50.24, with a 52-week low of $23.59 and a high of $50.90.
• Several institutional investors have recently adjusted their stakes in LATAM Airlines, indicating increased interest in the company's stock.

LATAM Airlines Group (NYSE:LTM - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Saturday.

LATAM Airlines Group Trading Up 0.3%

Shares of NYSE LTM traded up $0.18 during mid-day trading on Friday, reaching $51.43. The company had a trading volume of 912,301 shares, compared to its average volume of 1,647,942. The firm has a 50 day simple moving average of $44.01 and a two-hundred day simple moving average of $37.14. The stock has a market cap of $15.54 billion, a P/E ratio of 13.22, a PEG ratio of 0.50 and a beta of 3.59. LATAM Airlines Group has a 52-week low of $23.59 and a 52-week high of $52.54.

Institutional Trading of LATAM Airlines Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Jefferies Financial Group Inc. purchased a new position in LATAM Airlines Group in the fourth quarter worth $1,754,597,000. Arrowstreet Capital Limited Partnership purchased a new position in LATAM Airlines Group in the second quarter worth $17,317,000. Deutsche Bank AG raised its position in LATAM Airlines Group by 24.5% in the fourth quarter. Deutsche Bank AG now owns 2,035,000 shares of the transportation company's stock worth $56,125,000 after acquiring an additional 400,000 shares in the last quarter. Farallon Capital Management LLC raised its position in LATAM Airlines Group by 105.9% in the fourth quarter. Farallon Capital Management LLC now owns 618,469 shares of the transportation company's stock worth $17,057,000 after acquiring an additional 318,092 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in LATAM Airlines Group in the second quarter worth $12,308,000.

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.