Weiss Ratings Reaffirms Hold (C) Rating for LATAM Airlines Group (NYSE:LTM)

Key Points

• Weiss Ratings has reaffirmed a "hold (C)" rating for LATAM Airlines Group (NYSE:LTM), amidst mixed rating updates from other research firms.
• LATAM Airlines Group's stock has a current average price target of $38.00, despite experiencing a wide range between its 52-week high of $52.54 and low of $25.39.
• Institutional investment firms have increased their stakes in LATAM Airlines, with Cubist Systematic Strategies raising its position by 1,028.9% in the first quarter.

LATAM Airlines Group (NYSE:LTM - Get Free Report)'s stock had its "hold (c)" rating reissued by equities researchers at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other research firms have also recently commented on LTM. Zacks Research cut shares of LATAM Airlines Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. Wall Street Zen upgraded shares of LATAM Airlines Group from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 20th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $38.00.

LATAM Airlines Group Stock Performance

LTM opened at $43.44 on Wednesday. LATAM Airlines Group has a fifty-two week low of $25.39 and a fifty-two week high of $52.54. The stock has a market capitalization of $13.13 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 0.41 and a beta of 3.60. The company has a fifty day moving average of $46.22 and a 200 day moving average of $39.49.

Institutional Investors Weigh In On LATAM Airlines Group

Hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC raised its position in shares of LATAM Airlines Group by 1,028.9% in the first quarter. Cubist Systematic Strategies LLC now owns 139,478 shares of the transportation company's stock valued at $4,363,000 after buying an additional 127,123 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of LATAM Airlines Group by 101.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 309,213 shares of the transportation company's stock valued at $12,566,000 after buying an additional 155,553 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in LATAM Airlines Group during the second quarter worth about $4,458,000. Goldman Sachs Group Inc. increased its position in LATAM Airlines Group by 133.9% during the first quarter. Goldman Sachs Group Inc. now owns 40,258 shares of the transportation company's stock worth $1,259,000 after purchasing an additional 23,044 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in LATAM Airlines Group during the first quarter worth about $295,000.

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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