Connor Clark & Lunn Investment Management Ltd. Sells 16,860 Shares of Copa Holdings, S.A. (NYSE:CPA)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in Copa Holdings, S.A. (NYSE:CPA - Free Report) by 44.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,124 shares of the transportation company's stock after selling 16,860 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.05% of Copa worth $1,856,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CPA. Landscape Capital Management L.L.C. boosted its stake in Copa by 20.5% in the third quarter. Landscape Capital Management L.L.C. now owns 46,743 shares of the transportation company's stock valued at $4,386,000 after buying an additional 7,948 shares in the last quarter. Foundry Partners LLC boosted its stake in shares of Copa by 2.4% during the third quarter. Foundry Partners LLC now owns 45,581 shares of the transportation company's stock valued at $4,277,000 after purchasing an additional 1,060 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Copa by 12.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 12,768 shares of the transportation company's stock valued at $1,198,000 after purchasing an additional 1,369 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in shares of Copa by 153.5% during the third quarter. Dynamic Technology Lab Private Ltd now owns 21,693 shares of the transportation company's stock valued at $2,036,000 after purchasing an additional 13,136 shares in the last quarter. Finally, Bell Investment Advisors Inc boosted its stake in shares of Copa by 29.6% during the third quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company's stock valued at $59,000 after purchasing an additional 143 shares in the last quarter. 70.09% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

CPA has been the topic of a number of recent research reports. StockNews.com lowered Copa from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. UBS Group lifted their price target on Copa from $160.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, January 7th. Finally, Cowen reissued a "buy" rating on shares of Copa in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Copa currently has an average rating of "Buy" and a consensus price target of $153.29.

Copa Trading Down 0.4 %

Shares of CPA traded down $0.35 during mid-day trading on Friday, reaching $94.20. 336,590 shares of the company were exchanged, compared to its average volume of 290,532. Copa Holdings, S.A. has a 52 week low of $80.01 and a 52 week high of $114.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.99 and a current ratio of 1.10. The stock has a market capitalization of $3.96 billion, a PE ratio of 6.47, a PEG ratio of 0.87 and a beta of 1.42. The business has a 50 day simple moving average of $93.20 and a two-hundred day simple moving average of $93.19.

Copa (NYSE:CPA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The transportation company reported $3.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.84 by $0.15. Copa had a return on equity of 26.70% and a net margin of 17.67%. On average, analysts predict that Copa Holdings, S.A. will post 15.48 earnings per share for the current fiscal year.

Copa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $1.61 dividend. The ex-dividend date was Friday, February 28th. This represents a $6.44 dividend on an annualized basis and a yield of 6.84%. Copa's payout ratio is currently 44.23%.

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.