Renaissance Technologies LLC Has $70.45 Million Stake in Copa Holdings, S.A. (NYSE:CPA)

Renaissance Technologies LLC trimmed its holdings in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 801,628 shares of the transportation company's stock after selling 68,757 shares during the quarter. Renaissance Technologies LLC owned 1.91% of Copa worth $70,447,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in Copa by 147.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 991 shares of the transportation company's stock valued at $87,000 after buying an additional 591 shares during the last quarter. Envestnet Asset Management Inc. bought a new position in Copa in the 4th quarter worth about $225,000. Steward Partners Investment Advisory LLC increased its stake in shares of Copa by 24.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,685 shares of the transportation company's stock valued at $236,000 after purchasing an additional 521 shares during the period. SG Americas Securities LLC raised its holdings in shares of Copa by 90.0% during the fourth quarter. SG Americas Securities LLC now owns 2,719 shares of the transportation company's stock valued at $239,000 after buying an additional 1,288 shares during the last quarter. Finally, Optimist Retirement Group LLC acquired a new position in shares of Copa during the third quarter worth approximately $240,000. Institutional investors and hedge funds own 70.09% of the company's stock.

Copa Price Performance

Shares of NYSE:CPA traded up $1.58 during midday trading on Tuesday, reaching $89.12. 78,836 shares of the company's stock were exchanged, compared to its average volume of 304,050. The company's 50 day simple moving average is $92.46 and its two-hundred day simple moving average is $93.20. Copa Holdings, S.A. has a 12 month low of $80.01 and a 12 month high of $114.00. The firm has a market capitalization of $3.75 billion, a PE ratio of 6.12, a price-to-earnings-growth ratio of 0.87 and a beta of 1.11. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.99 and a current ratio of 1.10.

Remove Ads

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

Copa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors 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 annualized dividend and a yield of 7.23%. Copa's dividend payout ratio is currently 44.23%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CPA. StockNews.com lowered shares of Copa from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. UBS Group raised their price objective on shares of 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 report on Tuesday, February 18th. One 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's stock. Based on data from MarketBeat.com, Copa presently has a consensus rating of "Buy" and an average price target of $153.29.

Copa Company 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.