Riverhead Capital Management LLC cut its stake in Copa Holdings, S.A. (NYSE:CPA) by 12.6% in the third quarter, HoldingsChannel reports. The firm owned 61,200 shares of the transportation company’s stock after selling 8,790 shares during the quarter. Riverhead Capital Management LLC’s holdings in Copa were worth $4,886,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. NumerixS Investment Technologies Inc lifted its holdings in Copa by 5,900.0% in the second quarter. NumerixS Investment Technologies Inc now owns 6,000 shares of the transportation company’s stock valued at $566,000 after acquiring an additional 5,900 shares during the last quarter. Gradient Investments LLC acquired a new position in Copa in the third quarter valued at approximately $1,912,000. Advisors Asset Management Inc. lifted its holdings in Copa by 23.1% in the second quarter. Advisors Asset Management Inc. now owns 14,502 shares of the transportation company’s stock valued at $1,372,000 after acquiring an additional 2,725 shares during the last quarter. Raymond James & Associates lifted its holdings in Copa by 46.0% in the second quarter. Raymond James & Associates now owns 11,406 shares of the transportation company’s stock valued at $1,079,000 after acquiring an additional 3,593 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Copa by 419.9% in the second quarter. SG Americas Securities LLC now owns 13,425 shares of the transportation company’s stock valued at $1,270,000 after acquiring an additional 10,843 shares during the last quarter. Hedge funds and other institutional investors own 62.19% of the company’s stock.
NYSE:CPA opened at $83.60 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.93 and a current ratio of 1.02. Copa Holdings, S.A. has a 52 week low of $67.38 and a 52 week high of $141.34. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 1.33 and a beta of 1.62.
Copa (NYSE:CPA) last released its quarterly earnings results on Wednesday, November 14th. The transportation company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.06). Copa had a return on equity of 15.71% and a net margin of 12.79%. The firm had revenue of $672.40 million for the quarter, compared to analyst estimates of $677.93 million. During the same quarter last year, the company earned $2.38 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts anticipate that Copa Holdings, S.A. will post 6.76 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Thursday, November 29th. Copa’s dividend payout ratio (DPR) is 40.18%.
A number of research analysts recently commented on the company. Zacks Investment Research upgraded Copa from a “sell” rating to a “hold” rating in a report on Monday, November 19th. Buckingham Research upgraded Copa from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $103.00 to $95.00 in a report on Wednesday, September 12th. They noted that the move was a valuation call. Stifel Nicolaus reiterated a “sell” rating and issued a $70.00 price objective (down from $100.00) on shares of Copa in a report on Friday, August 10th. ValuEngine upgraded Copa from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Finally, Cowen decreased their price objective on Copa from $130.00 to $100.00 and set a “market perform” rating on the stock in a report on Friday, August 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $98.50.
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Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers flights to 75 destinations in 31 countries in North, Central, and South America, as well as the Caribbean. As of April 12, 2018, it operated a fleet of 101 aircraft comprising 81 Boeing 737NG aircraft and 20 EMBRAER-190s aircraft.
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