Copa Holdings, S.A. $CPA Shares Sold by Marathon Capital Management

Key Points

• Marathon Capital Management trimmed its position in Copa by 27.8% in Q4, selling 19,820 shares and leaving 51,553 shares (about $6.22M or 0.13% of Copa), with Copa representing ~1.3% of Marathon's holdings and its 20th-largest holding.
• Analyst sentiment is broadly positive: Copa has a MarketBeat consensus rating of "Buy" with a consensus target of $165, while major brokers have largely maintained buy/overweight stances even as several trimmed price targets.
• Copa slightly beat quarterly estimates (EPS $4.46 vs. $4.44) and raised its quarterly dividend to $1.71 (annualized $6.84, a 5.8% yield); the stock has a market cap of ~$4.85B and a P/E of 7.25.

Marathon Capital Management cut its stake in Copa Holdings, S.A. (NYSE:CPA - Free Report) by 27.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,553 shares of the transportation company's stock after selling 19,820 shares during the period. Copa comprises about 1.3% of Marathon Capital Management's holdings, making the stock its 20th largest holding. Marathon Capital Management owned about 0.13% of Copa worth $6,218,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Focus Financial Network Inc. raised its stake in Copa by 4.9% in the fourth quarter. Focus Financial Network Inc. now owns 2,193 shares of the transportation company's stock valued at $264,000 after buying an additional 102 shares in the last quarter. Burney Co. increased its holdings in shares of Copa by 1.9% in the fourth quarter. Burney Co. now owns 6,032 shares of the transportation company's stock valued at $728,000 after purchasing an additional 111 shares during the period. Private Advisor Group LLC increased its holdings in shares of Copa by 5.8% in the third quarter. Private Advisor Group LLC now owns 2,158 shares of the transportation company's stock valued at $256,000 after purchasing an additional 119 shares during the period. US Bancorp DE increased its holdings in shares of Copa by 90.2% in the third quarter. US Bancorp DE now owns 253 shares of the transportation company's stock valued at $30,000 after purchasing an additional 120 shares during the period. Finally, Merit Financial Group LLC increased its holdings in shares of Copa by 7.4% in the fourth quarter. Merit Financial Group LLC now owns 1,879 shares of the transportation company's stock valued at $227,000 after purchasing an additional 129 shares during the period. 70.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CPA shares. Morgan Stanley reissued an "overweight" rating and issued a $190.00 target price on shares of Copa in a report on Monday, February 9th. The Goldman Sachs Group raised Copa from a "neutral" rating to a "buy" rating and dropped their target price for the company from $151.00 to $138.00 in a report on Monday, April 13th. UBS Group dropped their target price on Copa from $190.00 to $185.00 and set a "buy" rating on the stock in a report on Friday, March 27th. JPMorgan Chase & Co. cut their price target on shares of Copa from $170.00 to $165.00 and set an "overweight" rating for the company in a report on Thursday, March 12th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Copa in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Copa has a consensus rating of "Buy" and a consensus target price of $165.00.

Copa Trading Up 1.6%

Shares of CPA opened at $118.00 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.20 and a debt-to-equity ratio of 0.65. The firm's 50-day moving average is $123.40 and its two-hundred day moving average is $125.92. Copa Holdings, S.A. has a twelve month low of $89.24 and a twelve month high of $156.41. The firm has a market capitalization of $4.85 billion, a P/E ratio of 7.25, a PEG ratio of 1.00 and a beta of 1.01.

Copa (NYSE:CPA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The transportation company reported $4.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.44 by $0.02. The company had revenue of $962.89 million for the quarter, compared to the consensus estimate of $959.22 million. Copa had a net margin of 18.57% and a return on equity of 25.62%. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.99 earnings per share. On average, research analysts predict that Copa Holdings, S.A. will post 14.21 earnings per share for the current fiscal year.

Copa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 5.8%. This is a positive change from Copa's previous quarterly dividend of $1.61. The ex-dividend date of this dividend was Friday, February 27th. Copa's dividend payout ratio is presently 42.04%.

Copa Company Profile

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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