Stevens Capital Management LP Buys New Holdings in LATAM Airlines Group SA (LTM)

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Stevens Capital Management LP bought a new stake in LATAM Airlines Group SA (NYSE:LTM) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 24,603 shares of the transportation company’s stock, valued at approximately $243,000.

A number of other institutional investors also recently added to or reduced their stakes in LTM. Deutsche Bank AG purchased a new stake in LATAM Airlines Group in the fourth quarter valued at approximately $503,000. Trexquant Investment LP purchased a new stake in LATAM Airlines Group during the first quarter worth approximately $451,000. Schwab Charles Investment Management Inc. grew its stake in LATAM Airlines Group by 9.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 417,080 shares of the transportation company’s stock worth $6,419,000 after buying an additional 36,512 shares during the period. Northern Trust Corp grew its stake in LATAM Airlines Group by 2.4% during the first quarter. Northern Trust Corp now owns 615,815 shares of the transportation company’s stock worth $9,478,000 after buying an additional 14,397 shares during the period. Finally, BlackRock Inc. grew its stake in LATAM Airlines Group by 7.3% during the first quarter. BlackRock Inc. now owns 2,317,232 shares of the transportation company’s stock worth $35,662,000 after buying an additional 156,994 shares during the period. Hedge funds and other institutional investors own 2.40% of the company’s stock.

LTM opened at $8.67 on Wednesday. LATAM Airlines Group SA has a 52-week low of $8.58 and a 52-week high of $17.39. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 28.12 and a beta of 1.97.

LATAM Airlines Group (NYSE:LTM) last released its quarterly earnings data on Monday, August 20th. The transportation company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.06). LATAM Airlines Group had a return on equity of 5.45% and a net margin of 2.27%. The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.46 billion. sell-side analysts predict that LATAM Airlines Group SA will post 0.41 EPS for the current year.

LTM has been the subject of several research reports. ValuEngine downgraded shares of LATAM Airlines Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 9th. Goldman Sachs Group initiated coverage on shares of LATAM Airlines Group in a research note on Monday, July 16th. They set a “neutral” rating and a $12.00 price objective for the company. Finally, Zacks Investment Research downgraded shares of LATAM Airlines Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Four investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. LATAM Airlines Group has an average rating of “Sell” and an average price target of $15.00.

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, Colombia, Brazil, Ecuador, Chile, rest of Latin America, Europe, and the Asia Pacific. The company operates in two segments, Air Transportation; and Coalition and Loyalty Program Multiplus.

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Institutional Ownership by Quarter for LATAM Airlines Group (NYSE:LTM)

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