Invenomic Capital Management LP Has $6.61 Million Stake in Copa Holdings, S.A. (NYSE:CPA)

Invenomic Capital Management LP raised its stake in Copa Holdings, S.A. (NYSE:CPA) by 98.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 75,220 shares of the transportation company’s stock after acquiring an additional 37,278 shares during the period. Invenomic Capital Management LP owned about 0.18% of Copa worth $6,610,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in shares of Copa by 0.4% in the 4th quarter. JPMorgan Chase & Co. now owns 2,628,609 shares of the transportation company’s stock worth $231,002,000 after purchasing an additional 11,300 shares during the last quarter. FMR LLC boosted its position in Copa by 18.1% in the fourth quarter. FMR LLC now owns 1,503,772 shares of the transportation company’s stock valued at $132,151,000 after buying an additional 230,653 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Copa by 17.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,084,323 shares of the transportation company’s stock worth $95,290,000 after buying an additional 159,470 shares during the last quarter. Carrhae Capital LLP increased its holdings in shares of Copa by 26.3% during the fourth quarter. Carrhae Capital LLP now owns 701,867 shares of the transportation company’s stock worth $61,680,000 after buying an additional 145,967 shares in the last quarter. Finally, Brandes Investment Partners LP raised its stake in shares of Copa by 8.6% in the fourth quarter. Brandes Investment Partners LP now owns 561,901 shares of the transportation company’s stock valued at $49,380,000 after acquiring an additional 44,298 shares during the last quarter. 70.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CPA shares. StockNews.com upgraded Copa from a “hold” rating to a “buy” rating in a research report on Friday. Cowen restated a “buy” rating on shares of Copa in a report on Tuesday, February 18th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $153.29.

Copa Stock Down 2.3 %

Shares of CPA opened at $98.41 on Friday. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 6.76, a PEG ratio of 0.87 and a beta of 1.26. Copa Holdings, S.A. has a 52 week low of $80.01 and a 52 week high of $114.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.99 and a current ratio of 1.10. The business’s fifty day moving average price is $91.69 and its two-hundred day moving average price is $92.55.

Copa (NYSE:CPA) last posted its quarterly earnings results on Wednesday, May 7th. The transportation company reported $4.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.51. Copa had a return on equity of 26.70% and a net margin of 17.67%. The business had revenue of $899.18 million for the quarter, compared to analysts’ expectations of $888.82 million. During the same quarter last year, the business earned $4.19 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, analysts predict that Copa Holdings, S.A. will post 15.48 earnings per share for the current year.

Copa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 6.54%. The ex-dividend date is Friday, May 30th. Copa’s dividend payout ratio (DPR) is 43.96%.

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.