Empirical Finance LLC Makes New $1.63 Million Investment in Corporacion America Airports S.A. (NYSE:CAAP)

Key Points

• Empirical Finance LLC acquired 89,112 shares of Corporacion America Airports S.A. (NYSE:CAAP), valued at approximately $1,631,000, marking a new position for them in the company.
• Analysts have set various price targets for CAAP, with Bank of America projecting a target of $24.70 and JPMorgan Chase increasing their target to $24.00, both indicating potential upward trends for the stock.
• Corporacion America Airports reported earnings of $0.25 per share, which was below the expected consensus of $0.51, despite exceeding revenue expectations with $446.20 million for the quarter.

Empirical Finance LLC purchased a new stake in Corporacion America Airports S.A. (NYSE:CAAP - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 89,112 shares of the company's stock, valued at approximately $1,631,000. Empirical Finance LLC owned approximately 0.05% of Corporacion America Airports at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in Corporacion America Airports by 6.6% during the fourth quarter. Bank of America Corp DE now owns 13,437 shares of the company's stock valued at $251,000 after purchasing an additional 836 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Corporacion America Airports by 125.4% in the fourth quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company's stock valued at $58,000 after buying an additional 1,726 shares in the last quarter. Invst LLC increased its stake in shares of Corporacion America Airports by 8.1% in the fourth quarter. Invst LLC now owns 46,618 shares of the company's stock valued at $870,000 after buying an additional 3,494 shares in the last quarter. LMG Wealth Partners LLC increased its position in Corporacion America Airports by 4.0% in the first quarter. LMG Wealth Partners LLC now owns 95,184 shares of the company's stock worth $1,742,000 after purchasing an additional 3,693 shares during the period. Finally, Ping Capital Management Inc. boosted its holdings in Corporacion America Airports by 17.2% during the first quarter. Ping Capital Management Inc. now owns 34,000 shares of the company's stock worth $622,000 after buying an additional 5,000 shares during the last quarter. 12.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CAAP. JPMorgan Chase & Co. upped their price objective on Corporacion America Airports from $22.50 to $24.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. Itau BBA Securities started coverage on Corporacion America Airports in a research note on Monday, April 28th. They set an "outperform" rating and a $20.40 target price for the company. Finally, Bank of America began coverage on Corporacion America Airports in a research report on Thursday, May 22nd. They issued a "buy" rating and a $24.70 price target for the company.

Corporacion America Airports Stock Down 0.5%

Shares of CAAP stock traded down $0.11 during midday trading on Wednesday, reaching $20.26. 28,149 shares of the stock were exchanged, compared to its average volume of 185,354. The company has a current ratio of 1.39, a quick ratio of 1.37 and a debt-to-equity ratio of 0.66. The firm has a market cap of $3.31 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 0.66 and a beta of 1.43. The company's 50 day moving average is $20.20 and its two-hundred day moving average is $19.36. Corporacion America Airports S.A. has a 1 year low of $13.97 and a 1 year high of $22.13.

Corporacion America Airports (NYSE:CAAP - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.26). Corporacion America Airports had a net margin of 7.84% and a return on equity of 9.33%. The firm had revenue of $446.20 million for the quarter, compared to the consensus estimate of $418.00 million. On average, equities research analysts predict that Corporacion America Airports S.A. will post 0.95 EPS for the current year.

Corporacion America Airports 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.