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

Invenomic Capital Management LP lessened its holdings in Copa Holdings, S.A. (NYSE:CPA - Free Report) by 16.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,942 shares of the transportation company's stock after selling 7,370 shares during the quarter. Invenomic Capital Management LP owned 0.10% of Copa worth $3,560,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Carolina Wealth Advisors LLC grew 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 worth $649,000 after purchasing an additional 770 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Copa by 14.9% during the second quarter. Hexagon Capital Partners LLC now owns 892 shares of the transportation company's stock valued at $85,000 after acquiring an additional 116 shares during the last quarter. Deltec Asset Management LLC raised its stake in shares of Copa by 1.7% during the second quarter. Deltec Asset Management LLC now owns 118,013 shares of the transportation company's stock valued at $11,232,000 after acquiring an additional 1,942 shares during the last quarter. Coronation Fund Managers Ltd. boosted its holdings in shares of Copa by 60.3% during the second quarter. Coronation Fund Managers Ltd. now owns 4,430 shares of the transportation company's stock worth $422,000 after purchasing an additional 1,667 shares during the period. Finally, Raymond James & Associates grew its stake in shares of Copa by 61.4% in the second quarter. Raymond James & Associates now owns 294,710 shares of the transportation company's stock worth $28,050,000 after purchasing an additional 112,143 shares during the last quarter. 70.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CPA shares. Evercore ISI cut their price objective on Copa from $165.00 to $150.00 and set an "outperform" rating on the stock in a research report on Thursday, August 8th. StockNews.com lowered shares of Copa from a "buy" rating to a "hold" rating in a report on Monday, November 25th. TD Cowen cut their target price on shares of Copa from $145.00 to $130.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Copa from $145.00 to $130.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Finally, 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 report on Thursday, August 29th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $148.83.

Copa Stock Down 0.7 %

CPA traded down $0.61 during midday trading on Wednesday, reaching $89.25. The company's stock had a trading volume of 134,624 shares, compared to its average volume of 288,289. Copa Holdings, S.A. has a 1 year low of $80.01 and a 1 year high of $114.00. The stock's 50-day moving average is $97.19 and its 200-day moving average is $94.24. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 5.94, a PEG ratio of 0.71 and a beta of 1.45. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56.

Copa (NYSE:CPA - Get Free Report) last posted its quarterly earnings results on Wednesday, November 20th. The transportation company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.02. The company had revenue of $854.71 million for the quarter, compared to the consensus estimate of $864.90 million. Copa had a return on equity of 28.46% and a net margin of 18.20%. The firm's quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.39 EPS. As a group, research analysts expect 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. This represents a $6.44 dividend on an annualized basis and a yield of 7.22%. The ex-dividend date is Monday, December 2nd. Copa's payout ratio is 42.59%.

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.