LATAM Airlines Group (NYSE:LTM) Shares Gap Up to $2.53

Shares of LATAM Airlines Group SA (NYSE:LTM) gapped up before the market opened on Wednesday . The stock had previously closed at $2.33, but opened at $2.53. LATAM Airlines Group shares last traded at $2.90, with a volume of 2,368,871 shares traded.

LTM has been the subject of several recent analyst reports. Itau Unibanco raised LATAM Airlines Group to a “buy” rating and set a $12.00 target price for the company in a research note on Friday, January 24th. Raymond James raised LATAM Airlines Group from a “market perform” rating to an “outperform” rating and set a $5.00 target price for the company in a research note on Monday, March 23rd. Zacks Investment Research raised LATAM Airlines Group from a “sell” rating to a “hold” rating and set a $9.25 target price for the company in a research note on Wednesday, January 22nd. HSBC lowered LATAM Airlines Group from a “buy” rating to a “hold” rating and set a $9.50 price target for the company. in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. lowered LATAM Airlines Group from a “neutral” rating to an “underweight” rating in a research report on Monday, March 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $9.84.

The stock has a market capitalization of $1.38 billion, a PE ratio of 9.35 and a beta of 1.93. The stock has a fifty day moving average of $5.01 and a 200-day moving average of $9.08.

A number of hedge funds and other institutional investors have recently made changes to their positions in LTM. Newfoundland Capital Management lifted its holdings in LATAM Airlines Group by 635.1% during the 4th quarter. Newfoundland Capital Management now owns 1,063,384 shares of the transportation company’s stock worth $10,804,000 after buying an additional 918,735 shares during the last quarter. Millennium Management LLC lifted its holdings in LATAM Airlines Group by 874.3% during the 3rd quarter. Millennium Management LLC now owns 416,515 shares of the transportation company’s stock worth $4,623,000 after buying an additional 373,765 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in LATAM Airlines Group by 23.8% during the 4th quarter. Renaissance Technologies LLC now owns 1,625,190 shares of the transportation company’s stock worth $16,512,000 after buying an additional 312,200 shares during the last quarter. Credit Suisse AG acquired a new stake in shares of LATAM Airlines Group during the fourth quarter worth about $2,714,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of LATAM Airlines Group during the fourth quarter worth about $2,480,000. 2.79% of the stock is owned by institutional investors.

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.

Featured Article: Monthly Dividend Stocks

Receive News & Ratings for LATAM Airlines Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LATAM Airlines Group and related companies with MarketBeat.com's FREE daily email newsletter.