Deltec Asset Management LLC Sells 9,426 Shares of Copa Holdings, S.A. (NYSE:CPA)

Deltec Asset Management LLC decreased its holdings in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 8.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 108,587 shares of the transportation company's stock after selling 9,426 shares during the period. Copa accounts for 2.0% of Deltec Asset Management LLC's portfolio, making the stock its 12th largest position. Deltec Asset Management LLC owned approximately 0.28% of Copa worth $10,190,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CPA. Hexagon Capital Partners LLC boosted 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 worth $85,000 after purchasing an additional 116 shares in the last quarter. Rhumbline Advisers increased its holdings in Copa by 69,000.0% in the 2nd quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company's stock worth $132,000 after buying an additional 1,380 shares in the last quarter. Kingsview Wealth Management LLC purchased a new position in Copa in the 1st quarter worth about $215,000. Mackenzie Financial Corp lifted its position in Copa by 29.3% during the second quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company's stock valued at $256,000 after purchasing an additional 610 shares during the period. Finally, Qsemble Capital Management LP bought a new stake in Copa in the 2nd quarter worth approximately $268,000. Institutional investors own 70.09% of the company's stock.

Copa Price Performance

Shares of CPA stock traded up $1.77 on Wednesday, hitting $99.11. 203,925 shares of the stock traded hands, compared to its average volume of 279,593. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.98 and a quick ratio of 0.89. Copa Holdings, S.A. has a 52 week low of $80.01 and a 52 week high of $114.00. The firm has a 50 day simple moving average of $93.39 and a two-hundred day simple moving average of $94.96. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 0.59 and a beta of 1.49.

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

Copa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $1.61 per share. The ex-dividend date was Friday, August 30th. This represents a $6.44 annualized dividend and a yield of 6.50%. Copa's payout ratio is 46.33%.

Analyst Upgrades and Downgrades

CPA has been the topic of several research analyst reports. Evercore ISI lowered their price target on Copa from $165.00 to $150.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. dropped their target price on Copa from $180.00 to $175.00 and set an "overweight" rating on the stock in a research report on Thursday, August 29th. StockNews.com lowered shares of Copa from a "buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Copa from $145.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Finally, TD Cowen cut their target price on shares of Copa from $145.00 to $130.00 and set a "buy" rating for the company in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $148.83.

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.