SG Americas Securities LLC Sells 37,930 Shares of Copa Holdings, S.A. (NYSE:CPA)

SG Americas Securities LLC cut its position in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 96.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,431 shares of the transportation company's stock after selling 37,930 shares during the period. SG Americas Securities LLC's holdings in Copa were worth $134,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CPA. SPX Gestao de Recursos Ltda raised its position in Copa by 16.4% in the second quarter. SPX Gestao de Recursos Ltda now owns 417,764 shares of the transportation company's stock worth $39,763,000 after purchasing an additional 58,846 shares in the last quarter. Shellback Capital LP grew its stake in shares of Copa by 13.9% in the 2nd quarter. Shellback Capital LP now owns 440,000 shares of the transportation company's stock valued at $41,879,000 after purchasing an additional 53,806 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Copa by 29.3% in the 2nd quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company's stock worth $256,000 after buying an additional 610 shares in the last quarter. Marathon Capital Management lifted its position in shares of Copa by 11.8% during the 2nd quarter. Marathon Capital Management now owns 69,503 shares of the transportation company's stock worth $6,615,000 after buying an additional 7,310 shares during the period. Finally, Appian Way Asset Management LP boosted its stake in Copa by 84.3% in the 2nd quarter. Appian Way Asset Management LP now owns 19,168 shares of the transportation company's stock valued at $1,824,000 after buying an additional 8,768 shares in the last quarter. 70.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on CPA. Deutsche Bank Aktiengesellschaft dropped their price objective on Copa from $145.00 to $130.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Evercore ISI cut their price target on shares of Copa from $165.00 to $150.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. StockNews.com cut shares of Copa from a "buy" rating to a "hold" rating in a research note on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Copa from $180.00 to $175.00 and set an "overweight" rating for the company in a report on Thursday, August 29th. Finally, TD Cowen reduced their target price on Copa from $145.00 to $130.00 and set a "buy" rating on the stock in a report on Friday, August 9th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Copa presently has an average rating of "Buy" and an average price target of $148.83.

Copa Price Performance

Shares of CPA stock traded down $0.52 during trading hours on Friday, reaching $100.32. 161,182 shares of the company were exchanged, compared to its average volume of 279,300. Copa Holdings, S.A. has a fifty-two week low of $78.12 and a fifty-two week high of $114.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.98 and a quick ratio of 0.89. The stock's fifty day moving average is $92.99 and its two-hundred day moving average is $95.01. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 7.22, a P/E/G ratio of 0.59 and a beta of 1.49.

Copa (NYSE:CPA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.88 EPS for the quarter, beating analysts' consensus estimates of $2.77 by $0.11. Copa had a return on equity of 30.81% and a net margin of 19.31%. The firm had revenue of $819.40 million for the quarter, compared to analyst estimates of $838.13 million. During the same period last year, the company earned $3.92 EPS. The business's quarterly revenue was up 1.3% compared to the same quarter last year. Sell-side analysts forecast that Copa Holdings, S.A. will post 14.56 earnings per share for the current fiscal year.

Copa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 6.42%. The ex-dividend date of this dividend was Friday, August 30th. Copa's payout ratio is 46.33%.

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.