Corporación América Airports (NYSE:CAAP) Shares Gap Down – What’s Next?

Corporación América Airports S.A. (NYSE:CAAP)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $19.28, but opened at $18.48. Corporación América Airports shares last traded at $18.63, with a volume of 41,982 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. initiated coverage on Corporación América Airports in a research note on Friday, March 14th. They issued an “overweight” rating and a $22.50 target price on the stock.

Corporación América Airports Stock Down 6.4 %

The company has a market capitalization of $2.95 billion, a P/E ratio of 8.36 and a beta of 1.97. The stock has a 50 day moving average price of $18.94 and a 200 day moving average price of $18.53. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.27 and a current ratio of 1.29.

Corporación América Airports (NYSE:CAAP) last released its earnings results on Wednesday, March 19th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. Corporación América Airports had a net margin of 20.78% and a return on equity of 28.13%. Equities research analysts forecast that Corporación América Airports S.A. will post 0.95 earnings per share for the current fiscal year.

Institutional Trading of Corporación América Airports

A number of large investors have recently bought and sold shares of CAAP. Citigroup Inc. lifted its position in shares of Corporación América Airports by 0.6% during the 3rd quarter. Citigroup Inc. now owns 1,050,579 shares of the company’s stock valued at $18,343,000 after buying an additional 6,600 shares during the last quarter. State Street Corp boosted its position in Corporación América Airports by 6.8% during the third quarter. State Street Corp now owns 266,233 shares of the company’s stock worth $4,648,000 after purchasing an additional 16,838 shares during the period. abrdn plc increased its stake in shares of Corporación América Airports by 8.7% in the fourth quarter. abrdn plc now owns 366,362 shares of the company’s stock worth $6,880,000 after purchasing an additional 29,462 shares in the last quarter. Stokes Family Office LLC raised its position in shares of Corporación América Airports by 1.8% in the fourth quarter. Stokes Family Office LLC now owns 279,535 shares of the company’s stock valued at $5,216,000 after purchasing an additional 5,000 shares during the period. Finally, LMG Wealth Partners LLC raised its position in shares of Corporación América Airports by 7.9% in the fourth quarter. LMG Wealth Partners LLC now owns 91,491 shares of the company’s stock valued at $1,707,000 after purchasing an additional 6,670 shares during the period. 12.95% of the stock is owned by hedge funds and other institutional investors.

Corporación América Airports Company Profile

Corporación América Airports SA, through its subsidiaries, acquires, develops, and operates airport concessions. It operates 52 airports in Latin America, Europe, and Eurasia. The company was formerly known as A.C.I. Airports International S.à r.l. and changed its name to Corporación América Airports SA in September 2017.