Range Financial Group LLC Grows Stake in Copa Holdings, S.A. (NYSE:CPA)

Range Financial Group LLC increased its stake in Copa Holdings, S.A. (NYSE:CPA - Free Report) by 34.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,652 shares of the transportation company's stock after purchasing an additional 4,297 shares during the quarter. Range Financial Group LLC's holdings in Copa were worth $1,540,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CPA. EverSource Wealth Advisors LLC raised its holdings in Copa by 147.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 991 shares of the transportation company's stock valued at $87,000 after acquiring an additional 591 shares during the period. Envestnet Asset Management Inc. bought a new stake in shares of Copa in the fourth quarter worth about $225,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Copa by 24.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,685 shares of the transportation company's stock worth $236,000 after purchasing an additional 521 shares during the last quarter. Retirement Planning Co of New England Inc. bought a new stake in shares of Copa in the fourth quarter worth about $241,000. Finally, Total Wealth Planning & Management Inc. purchased a new position in Copa in the fourth quarter worth about $244,000. 70.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on CPA shares. Wall Street Zen lowered Copa from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Cowen restated a "buy" rating on shares of Copa in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $153.00.

Copa Stock Performance

Copa stock opened at $107.95 on Monday. The company has a 50 day moving average price of $96.17 and a 200-day moving average price of $93.31. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.99 and a current ratio of 1.10. Copa Holdings, S.A. has a fifty-two week low of $80.01 and a fifty-two week high of $110.73. The company has a market capitalization of $4.44 billion, a PE ratio of 7.41, a P/E/G ratio of 0.87 and a beta of 1.33.

Copa (NYSE:CPA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The transportation company reported $4.28 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.51. Copa had a net margin of 17.67% and a return on equity of 26.70%. The firm had revenue of $899.18 million during the quarter, compared to the consensus estimate of $888.82 million. During the same quarter in the previous year, the firm posted $4.19 earnings per share. The company's revenue was up .6% on a year-over-year basis. As a group, equities analysts forecast that Copa Holdings, S.A. will post 15.48 earnings per share for the current year.

Copa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date is Friday, May 30th. Copa's dividend payout ratio (DPR) is 43.96%.

Copa 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.