Prelude Capital Management LLC acquired a new stake in shares of Copa Holdings, S.A. (NYSE:CPA – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 32,118 shares of the transportation company’s stock, valued at approximately $2,966,000. Prelude Capital Management LLC owned approximately 0.08% of Copa at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in CPA. Financial Management Professionals Inc. acquired a new stake in shares of Copa during the first quarter valued at approximately $29,000. State of Wyoming purchased a new position in Copa during the 4th quarter worth approximately $32,000. Advisory Services Network LLC grew its position in Copa by 1,560.7% during the 1st quarter. Advisory Services Network LLC now owns 465 shares of the transportation company’s stock worth $43,000 after purchasing an additional 437 shares in the last quarter. Captrust Financial Advisors grew its position in Copa by 136.8% during the 1st quarter. Captrust Financial Advisors now owns 689 shares of the transportation company’s stock worth $58,000 after purchasing an additional 398 shares in the last quarter. Finally, Advisor Group Holdings Inc. grew its position in Copa by 16.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,083 shares of the transportation company’s stock worth $92,000 after purchasing an additional 151 shares in the last quarter. Institutional investors own 81.94% of the company’s stock.
Analyst Upgrades and Downgrades
CPA has been the topic of several research analyst reports. HSBC lowered their price objective on shares of Copa from $143.00 to $138.00 in a research report on Tuesday, June 13th. TD Cowen lowered their price objective on shares of Copa from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, August 11th. The Goldman Sachs Group lifted their price objective on shares of Copa from $137.00 to $140.00 in a research report on Monday, July 10th. Raymond James lifted their price objective on shares of Copa from $138.00 to $155.00 in a research report on Monday, July 3rd. Finally, StockNews.com cut shares of Copa from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Copa presently has an average rating of “Buy” and a consensus target price of $130.50.
Copa Stock Down 1.3 %
Shares of Copa stock traded down $1.26 on Wednesday, hitting $96.95. 135,540 shares of the company traded hands, compared to its average volume of 520,661. The company has a 50-day moving average price of $106.89 and a 200 day moving average price of $101.14. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 0.71. Copa Holdings, S.A. has a 12-month low of $65.01 and a 12-month high of $121.20. The company has a market cap of $3.82 billion, a PE ratio of 11.33, a PEG ratio of 0.32 and a beta of 1.34.
Copa (NYSE:CPA – Get Free Report) last issued its quarterly earnings data on Wednesday, August 9th. The transportation company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.25 by $0.67. The firm had revenue of $809.19 million during the quarter, compared to analysts’ expectations of $798.96 million. Copa had a net margin of 10.17% and a return on equity of 40.02%. Copa’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 earnings per share. Sell-side analysts predict that Copa Holdings, S.A. will post 14.52 earnings per share for the current year.
Copa Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Thursday, September 28th. Copa’s dividend payout ratio is presently 37.83%.
Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 327 daily scheduled flights to 78 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2022, it operated a fleet of 97 aircraft comprising 67 Boeing 737-800 Next Generation aircraft, 9 Boeing 737-700 Next Generation aircraft, 1 Boeing 737-800 Boeing Converted Freighter, and 20 737-MAX aircraft.
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