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

LATAM Airlines Group SA (NYSE:LTM)’s stock price 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 changing hands.

Several research firms recently commented on LTM. JPMorgan Chase & Co. cut LATAM Airlines Group from a “neutral” rating to an “underweight” rating in a research report on Monday, March 16th. Raymond James raised LATAM Airlines Group from a “market perform” rating to an “outperform” rating and set a $5.00 price objective on the stock in a research report on Monday, March 23rd. ValuEngine raised LATAM Airlines Group from a “sell” rating to a “hold” rating in a research report on Monday, March 30th. Barclays reissued a “hold” rating and set a $3.50 target price on shares of LATAM Airlines Group in a research note on Monday. Finally, Zacks Investment Research raised LATAM Airlines Group from a “sell” rating to a “hold” rating and set a $9.25 target price on the stock in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $9.84.

The stock has a market capitalization of $1.38 billion, a P/E ratio of 9.35 and a beta of 1.93. The company has a 50-day moving average price of $5.01 and a 200 day moving average price of $9.08.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LTM. Aigen Investment Management LP bought a new position in shares of LATAM Airlines Group in the 4th quarter worth $57,000. Tower Research Capital LLC TRC bought a new position in shares of LATAM Airlines Group in the 4th quarter worth $114,000. Panagora Asset Management Inc. raised its position in shares of LATAM Airlines Group by 26.6% in the 4th quarter. Panagora Asset Management Inc. now owns 14,843 shares of the transportation company’s stock worth $151,000 after acquiring an additional 3,118 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of LATAM Airlines Group by 15.1% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 15,050 shares of the transportation company’s stock worth $153,000 after acquiring an additional 1,970 shares in the last quarter. Finally, Clear Street Markets LLC acquired a new position in LATAM Airlines Group during the 4th quarter valued at about $155,000. 2.79% of the stock is owned by hedge funds and other 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.

Read More: Hold Rating

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