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

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Captrust Financial Advisors boosted its stake in Copa by 4,063.6% in the fourth quarter. Captrust Financial Advisors now owns 542,601 shares of the transportation company's stock valued at $47,684,000 after acquiring an additional 529,569 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Copa in the fourth quarter valued at approximately $46,433,000. Canada Pension Plan Investment Board acquired a new stake in Copa in the fourth quarter valued at approximately $40,311,000. Millennium Management LLC boosted its stake in Copa by 1,279.2% in the fourth quarter. Millennium Management LLC now owns 324,235 shares of the transportation company's stock valued at $28,494,000 after acquiring an additional 300,726 shares in the last quarter. Finally, FMR LLC boosted its stake in Copa by 18.1% in the fourth quarter. FMR LLC now owns 1,503,772 shares of the transportation company's stock valued at $132,151,000 after acquiring an additional 230,653 shares in the last quarter. 70.09% of the stock is currently owned by institutional investors.

Copa Stock Performance

Shares of NYSE CPA traded up $0.62 during midday trading on Thursday, reaching $106.77. The company had a trading volume of 224,212 shares, compared to its average volume of 318,446. Copa Holdings, S.A. has a 1 year low of $80.01 and a 1 year high of $110.73. The company has a current ratio of 1.10, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60. The business's 50-day simple moving average is $97.22 and its 200 day simple moving average is $93.59. The stock has a market cap of $4.40 billion, a P/E ratio of 7.33, a P/E/G ratio of 0.87 and a beta of 1.33.

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

Copa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $1.61 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $6.44 dividend on an annualized basis and a yield of 6.03%. Copa's payout ratio is 43.96%.

Analyst Ratings Changes

Several equities research analysts have weighed in on CPA shares. Cowen restated a "buy" rating on shares of Copa in a research note on Wednesday, May 14th. Wall Street Zen downgraded shares of Copa from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $153.00.

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.