Carrhae Capital LLP Sells 117,852 Shares of Copa Holdings, S.A. $CPA

by · The Cerbat Gem

Carrhae Capital LLP reduced its position in Copa Holdings, S.A. (NYSE:CPA – Free Report) by 22.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 400,262 shares of the transportation company’s stock after selling 117,852 shares during the period. Copa accounts for approximately 1.7% of Carrhae Capital LLP’s investment portfolio, making the stock its 15th largest holding. Carrhae Capital LLP owned approximately 0.97% of Copa worth $62,269,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Sagil Capital LLP bought a new stake in shares of Copa during the 4th quarter valued at $6,495,000. Empowered Funds LLC grew its stake in shares of Copa by 8,453.5% during the first quarter. Empowered Funds LLC now owns 20,785 shares of the transportation company’s stock worth $2,361,000 after purchasing an additional 20,542 shares during the period. Quantinno Capital Management LP increased its holdings in Copa by 94.7% in the first quarter. Quantinno Capital Management LP now owns 143,618 shares of the transportation company’s stock valued at $16,316,000 after purchasing an additional 69,838 shares during the last quarter. Bank of America Corp DE increased its holdings in Copa by 45.5% in the first quarter. Bank of America Corp DE now owns 181,594 shares of the transportation company’s stock valued at $20,631,000 after purchasing an additional 56,764 shares during the last quarter. Finally, Letko Brosseau & Associates Inc. lifted its stake in Copa by 4.0% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 195,203 shares of the transportation company’s stock valued at $23,543,000 after buying an additional 7,450 shares during the period. 70.09% of the stock is owned by institutional investors.

Copa Trading Down 1.9%

CPA stock traded down $2.52 during midday trading on Tuesday, hitting $129.79. 152,506 shares of the company’s stock were exchanged, compared to its average volume of 385,340. Copa Holdings, S.A. has a one year low of $107.44 and a one year high of $160.46. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.97 and a current ratio of 1.06. The company has a market cap of $5.34 billion, a PE ratio of 8.53, a price-to-earnings-growth ratio of 1.23 and a beta of 0.99. The stock’s fifty day moving average price is $139.35 and its 200-day moving average price is $132.39.

Copa (NYSE:CPA – Get Free Report) last announced its quarterly earnings results on Saturday, August 8th. The transportation company reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.21). Copa had a return on equity of 22.40% and a net margin of 15.71%.The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the company earned $3.61 earnings per share. The firm’s revenue was up 25.7% compared to the same quarter last year. Research analysts predict that Copa Holdings, S.A. will post 15.22 earnings per share for the current fiscal year.

Copa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 5.3%. The ex-dividend date is Monday, August 31st. Copa’s dividend payout ratio (DPR) is 44.97%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Copa in a research report on Tuesday, August 11th. Evercore reiterated an “outperform” rating and issued a $175.00 price target on shares of Copa in a research report on Friday, May 15th. Jefferies Financial Group started coverage on shares of Copa in a research note on Thursday, June 18th. They set a “buy” rating and a $185.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on shares of Copa from $138.00 to $156.00 and gave the company a “buy” rating in a report on Friday, May 15th. Finally, Raymond James Financial lowered their target price on shares of Copa from $195.00 to $185.00 and set a “strong-buy” rating for the company in a research note on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Copa has an average rating of “Buy” and a consensus price target of $172.20.

Get Our Latest Research Report on Copa

Copa Profile

(Free Report)

Copa Holdings, SA (NYSE:CPA) is a Panama‐based aviation holding company that provides passenger and cargo air transportation across the Americas and the Caribbean. Through its principal subsidiary, Copa Airlines, the company operates a modern fleet of Boeing 737 aircraft, offering scheduled flights that connect passengers through its Tocumen International Airport hub in Panama City. The company also offers dedicated cargo services under the Copa Cargo brand, leveraging belly hold capacity on its passenger flights to transport freight throughout its network.

The roots of Copa Holdings trace back to 1947, when Compañía Panameña de Aviación began operations as the flag carrier of Panama.

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