Copa Holdings, S.A. (NYSE:CPA) Short Interest Down 18.6% in March

Copa Holdings, S.A. (NYSE:CPA) was the recipient of a significant decline in short interest in March. As of March 15th, there was short interest totalling 1,580,000 shares, a decline of 18.6% from the February 28th total of 1,940,000 shares. Based on an average daily trading volume, of 312,500 shares, the days-to-cover ratio is presently 5.1 days. Approximately 5.2% of the shares of the stock are short sold.

Institutional Trading of Copa

A number of institutional investors have recently modified their holdings of CPA. Point72 Hong Kong Ltd acquired a new position in shares of Copa during the third quarter worth about $82,000. EverSource Wealth Advisors LLC lifted its position in Copa by 147.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 991 shares of the transportation company’s stock worth $87,000 after acquiring an additional 591 shares in the last quarter. Envestnet Asset Management Inc. purchased a new position in Copa in the 4th quarter worth approximately $225,000. Steward Partners Investment Advisory LLC grew its position in 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 acquiring an additional 521 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position 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 worth $239,000 after purchasing an additional 1,288 shares in the last quarter. Hedge funds and other institutional investors own 70.09% of the company’s stock.

Copa Price Performance

Shares of NYSE CPA traded down $1.15 during trading on Wednesday, reaching $90.09. The company had a trading volume of 325,463 shares, compared to its average volume of 297,712. The company has a current ratio of 1.10, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $3.79 billion, a PE ratio of 6.19, a price-to-earnings-growth ratio of 0.87 and a beta of 1.42. Copa has a twelve month low of $80.01 and a twelve month high of $114.00. The stock has a 50-day moving average price of $93.69 and a two-hundred day moving average price of $93.59.

Copa (NYSE:CPA) last released its quarterly earnings results on Wednesday, February 12th. The transportation company reported $3.99 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts predict that Copa will post 15.48 earnings per share for the current year.

Copa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a yield of 7.15%. The ex-dividend date was Friday, February 28th. Copa’s payout ratio is currently 44.23%.

Wall Street Analyst Weigh In

CPA has been the subject of a number of recent analyst reports. StockNews.com downgraded Copa from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. UBS Group boosted their price target on Copa from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Finally, Cowen reiterated a “buy” rating on shares of Copa in a research report on Tuesday, February 18th. One equities research 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target 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.