Copa Holdings, S.A. (NYSE:CPA) Holdings Trimmed by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its stake in shares of Copa Holdings, S.A. (NYSE:CPA) by 7.9% in the 4th quarter, HoldingsChannel reports. The firm owned 801,628 shares of the transportation company’s stock after selling 68,757 shares during the quarter. Renaissance Technologies LLC’s holdings in Copa were worth $70,447,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CPA. LPL Financial LLC increased its position in Copa by 4.3% in the 4th quarter. LPL Financial LLC now owns 3,204 shares of the transportation company’s stock worth $282,000 after purchasing an additional 132 shares during the last quarter. Carolina Wealth Advisors LLC grew its holdings in Copa by 2.7% in the 4th quarter. Carolina Wealth Advisors LLC now owns 6,408 shares of the transportation company’s stock valued at $563,000 after buying an additional 166 shares during the last quarter. Privium Fund Management UK Ltd lifted its position in shares of Copa by 2.6% in the 4th quarter. Privium Fund Management UK Ltd now owns 7,114 shares of the transportation company’s stock worth $624,000 after acquiring an additional 178 shares during the period. Everstar Asset Management LLC lifted its position in shares of Copa by 5.3% in the 4th quarter. Everstar Asset Management LLC now owns 5,653 shares of the transportation company’s stock worth $497,000 after acquiring an additional 282 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Copa by 3.2% during the 4th quarter. Russell Investments Group Ltd. now owns 12,550 shares of the transportation company’s stock worth $1,103,000 after buying an additional 393 shares during the period. 70.09% of the stock is owned by hedge funds and other institutional investors.

Copa Stock Up 7.0 %

Shares of CPA stock opened at $88.96 on Thursday. 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 firm has a market capitalization of $3.74 billion, a P/E ratio of 6.11, a PEG ratio of 0.87 and a beta of 1.11. Copa Holdings, S.A. has a 1 year low of $80.01 and a 1 year high of $114.00. The firm’s fifty day moving average price is $92.74 and its two-hundred day moving average price is $93.34.

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

Copa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 7.24%. The ex-dividend date of this dividend was Friday, February 28th. Copa’s payout ratio is currently 44.23%.

Analysts Set New Price Targets

CPA has been the subject of several analyst reports. StockNews.com downgraded Copa from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Cowen reaffirmed a “buy” rating on shares of Copa in a research note on Tuesday, February 18th. Finally, UBS Group lifted their target price on Copa from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Copa presently has an average rating of “Buy” and a consensus target price 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.