Formidable Asset Management LLC Acquires New Position in Corporacion America Airports S.A. (NYSE:CAAP)

Formidable Asset Management LLC bought a new position in shares of Corporacion America Airports S.A. (NYSE:CAAP - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 20,620 shares of the company's stock, valued at approximately $377,000.

A number of other institutional investors also recently modified their holdings of the company. Ping Capital Management Inc. raised its position in shares of 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 purchasing an additional 5,000 shares during the period. LMG Wealth Partners LLC grew its holdings in Corporacion America Airports by 4.0% during the first quarter. LMG Wealth Partners LLC now owns 95,184 shares of the company's stock worth $1,742,000 after buying an additional 3,693 shares in the last quarter. Trek Financial LLC bought a new stake in Corporacion America Airports during the first quarter worth $333,000. Invst LLC grew its holdings in Corporacion America Airports by 8.1% during the fourth quarter. Invst LLC now owns 46,618 shares of the company's stock worth $870,000 after buying an additional 3,494 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in Corporacion America Airports by 48.3% during the fourth quarter. Royal Bank of Canada now owns 887,485 shares of the company's stock worth $16,561,000 after buying an additional 288,948 shares in the last quarter. 12.95% of the stock is owned by institutional investors and hedge funds.

Corporacion America Airports Stock Performance

NYSE:CAAP traded up $0.35 during trading on Wednesday, reaching $19.89. The company's stock had a trading volume of 6,836 shares, compared to its average volume of 188,447. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.37 and a current ratio of 1.39. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 23.12, a price-to-earnings-growth ratio of 0.65 and a beta of 1.43. Corporacion America Airports S.A. has a 12 month low of $13.97 and a 12 month high of $22.13. The firm has a 50 day moving average of $20.43 and a 200-day moving average of $19.33.

Corporacion America Airports (NYSE:CAAP - Get Free Report) last posted 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). The firm had revenue of $446.20 million for the quarter, compared to the consensus estimate of $418.00 million. Corporacion America Airports had a return on equity of 9.33% and a net margin of 7.84%. Research analysts expect that Corporacion America Airports S.A. will post 0.95 EPS for the current fiscal year.

Analyst Ratings Changes

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

Corporacion America Airports Company 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.