Copa Holdings, S.A. (NYSE:CPA) Short Interest Down 18.6% in March

Copa Holdings, S.A. (NYSE:CPA - Get Free Report) was the recipient of a significant decrease in short interest in March. As of March 15th, there was short interest totalling 1,580,000 shares, a decrease of 18.6% from the February 28th total of 1,940,000 shares. Approximately 5.2% of the shares of the company are sold short. Based on an average daily volume of 312,500 shares, the short-interest ratio is currently 5.1 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CPA. JPMorgan Chase & Co. grew its holdings in Copa by 0.4% during the 4th quarter. JPMorgan Chase & Co. now owns 2,628,609 shares of the transportation company's stock valued at $231,002,000 after buying an additional 11,300 shares during the last quarter. FMR LLC lifted its position in shares of Copa by 18.1% in the fourth quarter. FMR LLC now owns 1,503,772 shares of the transportation company's stock valued at $132,151,000 after acquiring an additional 230,653 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Copa by 17.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,084,323 shares of the transportation company's stock valued at $95,290,000 after acquiring an additional 159,470 shares during the last quarter. Carrhae Capital LLP increased its position in Copa by 26.3% during the 4th quarter. Carrhae Capital LLP now owns 701,867 shares of the transportation company's stock worth $61,680,000 after purchasing an additional 145,967 shares in the last quarter. Finally, Brandes Investment Partners LP raised its stake in Copa by 8.6% in the 4th quarter. Brandes Investment Partners LP now owns 561,901 shares of the transportation company's stock valued at $49,380,000 after purchasing an additional 44,298 shares during the last quarter. 70.09% of the stock is owned by hedge funds and other institutional investors.

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Copa Price Performance

NYSE CPA traded down $4.57 during mid-day trading on Friday, hitting $86.95. The stock had a trading volume of 482,073 shares, compared to its average volume of 301,804. The company has a 50 day simple moving average of $93.52 and a 200 day simple moving average of $93.56. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 5.97, a P/E/G ratio of 0.87 and a beta of 1.11. Copa has a 52-week low of $80.01 and a 52-week high of $114.00. The company has a quick ratio of 0.99, a current ratio of 1.10 and a debt-to-equity ratio of 0.60.

Copa (NYSE:CPA - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The transportation company reported $3.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.84 by $0.15. Copa had a return on equity of 26.70% and a net margin of 17.67%. Equities analysts forecast that Copa will post 15.48 EPS for the current fiscal year.

Copa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $1.61 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $6.44 annualized dividend and a dividend yield of 7.41%. Copa's dividend payout ratio is presently 44.23%.

Wall Street Analysts Forecast Growth

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

About Copa

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.