Copa Holdings, S.A. (NYSE:CPA) Shares Acquired by VELA Investment Management LLC

VELA Investment Management LLC increased its holdings in Copa Holdings, S.A. (NYSE:CPA) by 14.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,371 shares of the transportation company’s stock after acquiring an additional 3,995 shares during the quarter. Copa makes up 0.9% of VELA Investment Management LLC’s portfolio, making the stock its 29th biggest position. VELA Investment Management LLC’s holdings in Copa were worth $3,038,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Hexagon Capital Partners LLC lifted its stake in shares of Copa by 14.9% in the second quarter. Hexagon Capital Partners LLC now owns 892 shares of the transportation company’s stock worth $85,000 after acquiring an additional 116 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Copa by 69,000.0% in the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock worth $132,000 after acquiring an additional 1,380 shares in the last quarter. Kingsview Wealth Management LLC acquired a new position in shares of Copa in the first quarter worth about $215,000. Sciencast Management LP lifted its stake in shares of Copa by 4.0% in the first quarter. Sciencast Management LP now owns 2,627 shares of the transportation company’s stock worth $274,000 after acquiring an additional 100 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of Copa by 29.3% in the second quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company’s stock worth $256,000 after acquiring an additional 610 shares in the last quarter. Institutional investors and hedge funds own 70.09% of the company’s stock.

Copa Stock Up 0.3 %

Shares of CPA traded up $0.33 during mid-day trading on Friday, reaching $97.63. The company’s stock had a trading volume of 182,549 shares, compared to its average volume of 278,688. Copa Holdings, S.A. has a 1 year low of $80.01 and a 1 year high of $114.00. The company has a quick ratio of 0.89, a current ratio of 0.98 and a debt-to-equity ratio of 0.56. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 5.98, a price-to-earnings-growth ratio of 0.62 and a beta of 1.49. The business has a fifty day moving average of $93.85 and a 200 day moving average of $95.01.

Copa (NYSE:CPA) last released its earnings results on Wednesday, August 7th. The transportation company reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.11. The business had revenue of $819.40 million during the quarter, compared to analysts’ expectations of $838.13 million. Copa had a net margin of 19.31% and a return on equity of 30.81%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $3.92 earnings per share. As a group, analysts forecast that Copa Holdings, S.A. will post 14.62 earnings per share for the current fiscal year.

Copa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 6.60%. The ex-dividend date of this dividend was Friday, August 30th. Copa’s payout ratio is 39.41%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CPA shares. StockNews.com upgraded Copa from a “hold” rating to a “buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft cut their price objective on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut their price objective on Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. TD Cowen cut their price objective on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Evercore ISI lowered their target price on Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $148.83.

Copa Profile

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.