Privium Fund Management UK Ltd Sells 1,073 Shares of Copa Holdings, S.A. $CPA

Privium Fund Management UK Ltd lessened its holdings in Copa Holdings, S.A. (NYSE:CPA) by 11.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,041 shares of the transportation company’s stock after selling 1,073 shares during the period. Copa comprises about 0.6% of Privium Fund Management UK Ltd’s portfolio, making the stock its 6th largest holding. Privium Fund Management UK Ltd’s holdings in Copa were worth $877,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Millennium Management LLC increased its position in shares of Copa by 56.5% in the first quarter. Millennium Management LLC now owns 507,419 shares of the transportation company’s stock valued at $46,916,000 after buying an additional 183,184 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Copa by 56.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 340,554 shares of the transportation company’s stock valued at $31,488,000 after acquiring an additional 122,413 shares during the period. Dimensional Fund Advisors LP increased its holdings in Copa by 9.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,184,278 shares of the transportation company’s stock worth $109,501,000 after acquiring an additional 99,955 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in Copa by 26.0% in the 1st quarter. Vontobel Holding Ltd. now owns 473,562 shares of the transportation company’s stock worth $43,786,000 after acquiring an additional 97,656 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new position in Copa during the second quarter worth $9,392,000. Hedge funds and other institutional investors own 70.09% of the company’s stock.

Copa Stock Up 1.7%

CPA stock opened at $126.98 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average of $119.09 and a two-hundred day moving average of $108.45. Copa Holdings, S.A. has a 12 month low of $82.54 and a 12 month high of $130.00. The company has a market cap of $5.23 billion, a price-to-earnings ratio of 8.26, a PEG ratio of 1.09 and a beta of 1.30.

Copa (NYSE:CPA) last posted its quarterly earnings results on Wednesday, August 6th. The transportation company reported $3.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.25 by $0.36. Copa had a return on equity of 26.22% and a net margin of 18.36%.The business had revenue of $842.60 million during the quarter, compared to analyst estimates of $833.12 million. During the same period in the prior year, the business earned $2.88 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. As a group, analysts forecast that Copa Holdings, S.A. will post 15.48 earnings per share for the current fiscal year.

Copa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 5.1%. The ex-dividend date was Friday, August 29th. Copa’s payout ratio is currently 41.87%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CPA shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Copa in a research report on Wednesday, October 8th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Copa in a research note on Friday, August 8th. Citigroup cut their price objective on Copa from $159.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, August 22nd. Evercore ISI raised their target price on Copa from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. Finally, Cowen reiterated a “buy” rating on shares of Copa in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $155.33.

About Copa

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 375 daily scheduled flights to 82 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2023, it operated a fleet of 106 aircraft comprising 76 Boeing 737-Next Generation aircraft, 29 Boeing 737 MAX 9 aircraft, and one Boeing 737-800 Boeing Converted Freighter.