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

Invenomic Capital Management LP cut its stake in Copa Holdings, S.A. (NYSE:CPA) by 16.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,942 shares of the transportation company’s stock after selling 7,370 shares during the period. Invenomic Capital Management LP owned 0.10% of Copa worth $3,560,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Bell Investment Advisors Inc increased its holdings in shares of Copa by 29.6% in the third quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company’s stock valued at $59,000 after purchasing an additional 143 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Copa in the 3rd quarter valued at $82,000. Hexagon Capital Partners LLC raised its position 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 worth $85,000 after acquiring an additional 116 shares during the last quarter. Rhumbline Advisers raised its position in shares of Copa by 69,000.0% during the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock worth $132,000 after acquiring an additional 1,380 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of 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 acquiring an additional 610 shares during the period. 70.09% of the stock is owned by institutional investors.

Copa Trading Down 1.2 %

CPA opened at $89.86 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.09. Copa Holdings, S.A. has a twelve month low of $80.01 and a twelve month high of $114.00. The firm’s fifty day moving average is $97.25 and its two-hundred day moving average is $94.37. The firm has a market cap of $3.54 billion, a PE ratio of 5.94, a price-to-earnings-growth ratio of 0.71 and a beta of 1.45.

Copa (NYSE:CPA) last posted its 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. Copa had a return on equity of 28.46% and a net margin of 18.20%. The firm had revenue of $854.71 million for the quarter, compared to analyst estimates of $864.90 million. During the same period in the previous year, the company posted $4.39 earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities research analysts anticipate that Copa Holdings, S.A. will post 14.52 EPS for the current year.

Copa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a dividend of $1.61 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.44 dividend on an annualized basis and a yield of 7.17%. Copa’s payout ratio is 42.59%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Evercore ISI dropped their price objective on Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. TD Cowen cut 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 Friday, August 9th. StockNews.com cut shares of Copa from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. dropped their target price on shares of Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Copa presently has an average rating of “Buy” and an average target price of $148.83.

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.