Invenomic Capital Management LP Sells 7,370 Shares of Copa Holdings, S.A. (NYSE:CPA)

Invenomic Capital Management LP decreased its position in Copa Holdings, S.A. (NYSE:CPA) by 16.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,942 shares of the transportation company’s stock after selling 7,370 shares during the quarter. Invenomic Capital Management LP’s holdings in Copa were worth $3,560,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Carolina Wealth Advisors LLC raised its holdings in shares of Copa by 12.7% in the second quarter. Carolina Wealth Advisors LLC now owns 6,821 shares of the transportation company’s stock valued at $649,000 after purchasing an additional 770 shares during the last quarter. Hexagon Capital Partners LLC increased its stake in Copa by 14.9% in the 2nd quarter. Hexagon Capital Partners LLC now owns 892 shares of the transportation company’s stock valued at $85,000 after buying an additional 116 shares during the last quarter. Deltec Asset Management LLC lifted its position in Copa by 1.7% during the 2nd quarter. Deltec Asset Management LLC now owns 118,013 shares of the transportation company’s stock worth $11,232,000 after buying an additional 1,942 shares in the last quarter. Coronation Fund Managers Ltd. boosted its stake in shares of Copa by 60.3% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 4,430 shares of the transportation company’s stock worth $422,000 after buying an additional 1,667 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in shares of Copa by 61.4% in the 2nd quarter. Raymond James & Associates now owns 294,710 shares of the transportation company’s stock valued at $28,050,000 after acquiring an additional 112,143 shares in the last quarter. 70.09% of the stock is currently owned by institutional investors.

Copa Price Performance

Shares of CPA opened at $89.86 on Wednesday. The firm has a market capitalization of $3.54 billion, a PE ratio of 5.94, a PEG ratio of 0.71 and a beta of 1.45. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.09 and a quick ratio of 0.99. The company’s 50-day moving average is $97.25 and its 200-day moving average is $94.37. Copa Holdings, S.A. has a fifty-two week low of $80.01 and a fifty-two week high of $114.00.

Copa (NYSE:CPA) last released its quarterly earnings results on Wednesday, November 20th. The transportation company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.02. Copa had a net margin of 18.20% and a return on equity of 28.46%. The firm had revenue of $854.71 million for the quarter, compared to analysts’ expectations of $864.90 million. During the same period in the prior year, the firm earned $4.39 EPS. The business’s revenue was down 1.5% on a year-over-year basis. Equities analysts forecast that Copa Holdings, S.A. will post 14.52 EPS for the current year.

Copa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a $1.61 dividend. The ex-dividend date is Monday, December 2nd. This represents a $6.44 annualized dividend and a yield of 7.17%. Copa’s dividend payout ratio (DPR) is presently 42.59%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their price target on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. TD Cowen decreased 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. StockNews.com downgraded shares of Copa from a “buy” rating to a “hold” rating in a report on Monday, November 25th. JPMorgan Chase & Co. decreased their price objective on shares of Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday, August 29th. Finally, Evercore ISI dropped their target price on shares of Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $148.83.

Copa Company 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.