LATAM Airlines Group (NYSE:LTM) Stock Crosses Above 50-Day Moving Average of $8.95

LATAM Airlines Group SA (NYSE:LTM) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $8.95 and traded as high as $9.36. LATAM Airlines Group shares last traded at $9.32, with a volume of 2,689 shares trading hands.

Several research analysts recently commented on LTM shares. ValuEngine downgraded LATAM Airlines Group from a “hold” rating to a “sell” rating in a research note on Friday, May 17th. Bradesco Corretora set a $11.00 price objective on LATAM Airlines Group and gave the company a “hold” rating in a research note on Monday, May 20th. TheStreet downgraded LATAM Airlines Group from a “c-” rating to a “d” rating in a research note on Tuesday, June 11th. Finally, Zacks Investment Research downgraded LATAM Airlines Group from a “buy” rating to a “hold” rating in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $11.75.

The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 31.23, a price-to-earnings-growth ratio of 0.58 and a beta of 1.31. The firm has a 50 day simple moving average of $8.95.

LATAM Airlines Group (NYSE:LTM) last issued its earnings results on Friday, May 17th. The transportation company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.20). LATAM Airlines Group had a return on equity of 0.78% and a net margin of 0.29%. The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.82 billion. As a group, research analysts predict that LATAM Airlines Group SA will post 0.36 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the business. Northern Trust Corp increased its stake in shares of LATAM Airlines Group by 3.2% in the 4th quarter. Northern Trust Corp now owns 673,915 shares of the transportation company’s stock worth $6,941,000 after acquiring an additional 20,742 shares during the last quarter. Banco Santander S.A. increased its stake in shares of LATAM Airlines Group by 10.5% in the 1st quarter. Banco Santander S.A. now owns 333,810 shares of the transportation company’s stock worth $3,525,000 after acquiring an additional 31,710 shares during the last quarter. Deutsche Bank AG increased its stake in shares of LATAM Airlines Group by 202.7% in the 4th quarter. Deutsche Bank AG now owns 81,183 shares of the transportation company’s stock worth $835,000 after acquiring an additional 54,366 shares during the last quarter. Millennium Management LLC increased its stake in shares of LATAM Airlines Group by 333.8% in the 4th quarter. Millennium Management LLC now owns 56,054 shares of the transportation company’s stock worth $577,000 after acquiring an additional 43,132 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new stake in shares of LATAM Airlines Group in the 4th quarter worth $481,000. 2.21% of the stock is owned by institutional investors and hedge funds.

About LATAM Airlines Group (NYSE:LTM)

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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