Range Financial Group LLC Makes New Investment in Copa Holdings, S.A. $CPA

Key Points

• Range Financial Group acquired 10,543 shares of Copa Holdings in the third quarter, valued at approximately $1.39 million. Institutional investors collectively own 70.09% of the company.
• Analysts remain broadly positive, with an average rating of “Buy” and an average price target of $172.20, although several firms recently lowered their targets to $185.
• Copa reported quarterly EPS of $1.67, below the $1.88 consensus estimate, while revenue rose 25.7% year over year to $1.06 billion. The company also pays a quarterly dividend of $1.71, representing a 5.1% annualized yield.

Range Financial Group LLC bought a new position in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 10,543 shares of the transportation company's stock, valued at approximately $1,390,000.

A number of other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Copa by 3.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,396,963 shares of the transportation company's stock valued at $158,691,000 after buying an additional 52,243 shares during the period. Cullen Capital Management LLC bought a new position in Copa in the second quarter worth $88,871,000. Sei Investments Co. lifted its position in Copa by 5.1% in the first quarter. Sei Investments Co. now owns 351,310 shares of the transportation company's stock worth $39,912,000 after purchasing an additional 17,113 shares during the period. INCA Investments LLC acquired a new stake in Copa during the first quarter worth $26,950,000. Finally, Artemis Investment Management LLP boosted its stake in Copa by 64.9% during the third quarter. Artemis Investment Management LLP now owns 159,559 shares of the transportation company's stock worth $21,038,000 after buying an additional 62,789 shares in the last quarter. 70.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Copa in a research report on Tuesday, August 11th. Raymond James Financial dropped their price target on shares of Copa from $195.00 to $185.00 and set a "strong-buy" rating for the company in a research report on Monday, August 24th. UBS Group dropped their price target on shares of Copa from $195.00 to $185.00 and set a "buy" rating for the company in a research report on Tuesday, August 11th. Finally, Wall Street Zen cut shares of Copa from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $172.20.

Copa Stock Performance

Shares of NYSE:CPA opened at $135.25 on Wednesday. Copa Holdings, S.A. has a twelve month low of $107.44 and a twelve month high of $160.46. The firm has a market cap of $5.56 billion, a PE ratio of 8.89, a price-to-earnings-growth ratio of 1.26 and a beta of 1.05. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.97 and a current ratio of 1.06. The business has a fifty day moving average of $131.85 and a 200-day moving average of $134.10.

Copa (NYSE:CPA - Get Free Report) last posted its quarterly earnings data on Saturday, August 8th. The transportation company reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.21). Copa had a net margin of 15.71% and a return on equity of 22.40%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the business posted $3.61 EPS. The company's revenue was up 25.7% compared to the same quarter last year. On average, equities research analysts predict that Copa Holdings, S.A. will post 14.78 EPS for the current fiscal year.

Copa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were issued a $1.71 dividend. The ex-dividend date was Monday, August 31st. This represents a $6.84 annualized dividend and a yield of 5.1%. Copa's dividend payout ratio (DPR) is currently 44.97%.

Copa Company Profile

Copa Holdings, SA is a Panama-based airline holding company whose principal subsidiary is Compañía Panameña de Aviación, SA, known as Copa Airlines. The company provides scheduled passenger air transportation, with Tocumen International Airport in Panama City serving as its primary hub.

Copa Airlines operates a network connecting Panama with destinations across North, Central and South America and the Caribbean. Its services support both business and leisure travel, with connecting traffic routed through Panama's geographic position as a regional aviation hub.

Copa Holdings also has an interest in Wingo, a low-cost airline serving Colombia and other markets in the Americas.

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