1492 Capital Management LLC Sells 3,334 Shares of Copa Holdings, S.A. (NYSE:CPA)

1492 Capital Management LLC lessened its position in shares of Copa Holdings, S.A. (NYSE:CPA) by 5.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,638 shares of the transportation company’s stock after selling 3,334 shares during the period. Copa makes up about 2.4% of 1492 Capital Management LLC’s holdings, making the stock its 13th biggest position. 1492 Capital Management LLC owned 0.14% of Copa worth $5,065,000 at the end of the most recent reporting period.

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

Copa Stock Performance

Copa stock opened at $88.06 on Friday. The firm has a fifty day simple moving average of $92.30 and a two-hundred day simple moving average of $93.10. 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 Holdings, S.A. has a twelve month low of $80.01 and a twelve month high of $114.00. The company has a market capitalization of $3.70 billion, a PE ratio of 6.05, a P/E/G ratio of 0.87 and a beta of 1.11.

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

Copa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 7.31%. The ex-dividend date of this dividend was Friday, February 28th. Copa’s dividend payout ratio (DPR) is presently 44.23%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CPA shares. StockNews.com downgraded shares of Copa from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Cowen reaffirmed a “buy” rating on shares of Copa in a report on Tuesday, February 18th. Finally, UBS Group increased their target price on Copa from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Copa has an average rating of “Buy” and an average target price 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.