Renaissance Technologies LLC Raises Holdings in Copa Holdings, S.A. (NYSE:CPA)

Renaissance Technologies LLC boosted its holdings in shares of Copa Holdings, S.A. (NYSE:CPA) by 1.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 871,928 shares of the transportation company’s stock after buying an additional 16,100 shares during the quarter. Renaissance Technologies LLC owned approximately 2.21% of Copa worth $82,990,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. TFO Wealth Partners LLC increased its holdings in Copa by 34,300.0% during the fourth quarter. TFO Wealth Partners LLC now owns 344 shares of the transportation company’s stock valued at $37,000 after buying an additional 343 shares during the period. Scarborough Advisors LLC purchased a new position in Copa during the fourth quarter valued at approximately $47,000. Hexagon Capital Partners LLC increased its holdings in Copa by 15.1% during the first quarter. Hexagon Capital Partners LLC now owns 776 shares of the transportation company’s stock valued at $81,000 after buying an additional 102 shares during the period. Rhumbline Advisers increased its holdings in Copa by 69,000.0% during the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock valued at $132,000 after buying an additional 1,380 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its holdings in Copa by 45.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,858 shares of the transportation company’s stock valued at $198,000 after buying an additional 584 shares during the period. 70.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CPA shares. JPMorgan Chase & Co. lowered their target price on shares of Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. StockNews.com downgraded shares of Copa from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. TD Cowen lowered their target price on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Morgan Stanley started coverage on shares of Copa in a research note on Friday, May 24th. They issued an “overweight” rating and a $140.00 target price for the company. Finally, Evercore ISI lowered their target price on shares of Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $148.83.

Copa Trading Up 1.2 %

NYSE:CPA opened at $90.04 on Tuesday. Copa Holdings, S.A. has a 12 month low of $78.12 and a 12 month high of $114.00. The firm has a fifty day simple moving average of $89.83 and a 200-day simple moving average of $96.31. The company has a current ratio of 0.98, a quick ratio of 0.89 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $3.55 billion, a P/E ratio of 6.48, a PEG ratio of 0.55 and a beta of 1.48.

Copa (NYSE:CPA) last posted its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.88 EPS for the quarter, topping the consensus estimate of $2.77 by $0.11. The business had revenue of $819.40 million during the quarter, compared to the consensus estimate of $838.13 million. Copa had a net margin of 19.31% and a return on equity of 30.81%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.92 earnings per share. On average, equities research analysts anticipate that Copa Holdings, S.A. will post 14.53 earnings per share for the current year.

Copa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $1.61 per share. The ex-dividend date was Friday, August 30th. This represents a $6.44 dividend on an annualized basis and a yield of 7.15%. Copa’s dividend payout ratio is presently 46.33%.

Copa Profile

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.