Copa Holdings, S.A. (NYSE:CPA) Shares Sold by Fourth Sail Capital LP

Key Points

• Fourth Sail Capital LP reduced its stake in Copa Holdings, S.A. by 1.4%, selling 2,889 shares, with the transportation company's stock now accounting for approximately 4.4% of the fund's portfolio.
• Copa reported a quarterly earnings per share of $4.28, surpassing estimates and achieving a revenue of $899.18 million, reflecting a 0.6% year-over-year growth.
• The company also declared a quarterly dividend of $1.61, with an annualized dividend yield of 5.8% and a payout ratio of 43.96%.

Fourth Sail Capital LP lessened its holdings in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 1.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 204,901 shares of the transportation company's stock after selling 2,889 shares during the quarter. Copa accounts for approximately 4.4% of Fourth Sail Capital LP's holdings, making the stock its 9th largest holding. Fourth Sail Capital LP owned 0.49% of Copa worth $18,945,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CPA. Privium Fund Management UK Ltd increased its holdings in Copa by 28.1% during the 1st quarter. Privium Fund Management UK Ltd now owns 9,114 shares of the transportation company's stock worth $842,000 after purchasing an additional 2,000 shares in the last quarter. US Bancorp DE increased its holdings in Copa by 378.1% during the 1st quarter. US Bancorp DE now owns 502 shares of the transportation company's stock worth $46,000 after purchasing an additional 397 shares in the last quarter. Letko Brosseau & Associates Inc. increased its holdings in Copa by 0.4% during the 1st quarter. Letko Brosseau & Associates Inc. now owns 185,478 shares of the transportation company's stock worth $17,149,000 after purchasing an additional 728 shares in the last quarter. Bayforest Capital Ltd bought a new position in Copa during the 1st quarter worth about $36,000. Finally, GSA Capital Partners LLP increased its holdings 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 purchasing an additional 1,125 shares in the last quarter. Institutional investors and hedge funds own 70.09% of the company's stock.

Copa Stock Performance

Copa stock traded up $1.56 during midday trading on Friday, reaching $117.87. 424,152 shares of the company's stock were exchanged, compared to its average volume of 296,659. Copa Holdings, S.A. has a 52 week low of $82.54 and a 52 week high of $119.02. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.88 and a current ratio of 0.99. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of 7.66, a P/E/G ratio of 0.83 and a beta of 1.39. The stock's 50-day simple moving average is $108.68 and its 200 day simple moving average is $99.29.

Copa (NYSE:CPA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The transportation company reported $3.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.25 by $0.36. The firm had revenue of $842.60 million during the quarter, compared to the consensus estimate of $833.12 million. Copa had a net margin of 18.36% and a return on equity of 26.69%. The business's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the business posted $2.88 earnings per share. On average, analysts expect that Copa Holdings, S.A. will post 15.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CPA has been the subject of several analyst reports. TD Cowen raised their price objective on Copa from $144.00 to $147.00 and gave the company a "buy" rating in a report on Friday. Cowen restated a "buy" rating on shares of Copa in a report on Wednesday, May 14th. Wall Street Zen upgraded Copa from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Finally, Raymond James Financial raised their price objective on Copa from $147.00 to $150.00 and gave the company a "strong-buy" rating in a report on Friday. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $163.00.

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.