Empirical Finance LLC Buys New Stake in Copa Holdings, S.A. $CPA

Empirical Finance LLC purchased a new stake in Copa Holdings, S.A. (NYSE:CPA) in the 2nd quarter, HoldingsChannel reports. The fund purchased 38,425 shares of the transportation company’s stock, valued at approximately $4,226,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Montag A & Associates Inc. acquired a new position in shares of Copa during the first quarter worth about $30,000. Cetera Investment Advisers raised its holdings in shares of Copa by 76.4% during the 1st quarter. Cetera Investment Advisers now owns 8,248 shares of the transportation company’s stock valued at $763,000 after buying an additional 3,573 shares during the period. Mackenzie Financial Corp lifted its position in Copa by 10.1% during the 1st quarter. Mackenzie Financial Corp now owns 13,100 shares of the transportation company’s stock worth $1,211,000 after acquiring an additional 1,200 shares in the last quarter. GSA Capital Partners LLP lifted its position in Copa by 17.4% during the 1st quarter. GSA Capital Partners LLP now owns 7,584 shares of the transportation company’s stock worth $701,000 after acquiring an additional 1,125 shares in the last quarter. Finally, Bayforest Capital Ltd purchased a new position in Copa in the 1st quarter worth approximately $36,000. 70.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CPA has been the topic of a number of recent research reports. Raymond James Financial set a $164.00 target price on shares of Copa and gave the stock a “strong-buy” rating in a research report on Monday, November 3rd. Cowen reiterated a “buy” rating on shares of Copa in a report on Friday, August 8th. Weiss Ratings restated a “buy (b)” rating on shares of Copa in a research note on Wednesday, October 8th. Evercore ISI boosted their price target on Copa from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Finally, Morgan Stanley restated an “overweight” rating and set a $145.00 price objective (up previously from $125.00) on shares of Copa in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $157.67.

Copa Stock Performance

Shares of Copa stock opened at $123.39 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.04. Copa Holdings, S.A. has a 1 year low of $82.54 and a 1 year high of $130.00. The firm’s 50-day simple moving average is $122.64 and its 200-day simple moving average is $114.05. The firm has a market cap of $5.08 billion, a PE ratio of 8.02, a price-to-earnings-growth ratio of 1.08 and a beta of 1.30.

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.