Royal Bank of Canada Decreases Stock Holdings in Corporacion America Airports S.A. $CAAP

Key Points

• Royal Bank of Canada has reduced its stake in Corporacion America Airports S.A. by 5.2%, now holding approximately 841,600 shares valued at about $15.4 million.
• Recent analyst ratings for CAAP include a "buy" rating from Bank of America with a target price of $24.70, while JPMorgan Chase & Co. raised their target price from $22.50 to $24.00.
• Despite missing earnings estimates for the quarter, Corporacion America Airports reported revenue of $476.8 million, exceeding expectations of $423.15 million.

Royal Bank of Canada lowered its stake in Corporacion America Airports S.A. (NYSE:CAAP - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 841,600 shares of the company's stock after selling 45,885 shares during the quarter. Royal Bank of Canada owned approximately 0.52% of Corporacion America Airports worth $15,401,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Helikon Investments Ltd boosted its holdings in Corporacion America Airports by 92.3% in the 1st quarter. Helikon Investments Ltd now owns 13,622,399 shares of the company's stock valued at $249,290,000 after purchasing an additional 6,537,641 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Corporacion America Airports by 111.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 851,325 shares of the company's stock worth $15,886,000 after purchasing an additional 448,298 shares during the period. Millennium Management LLC raised its position in shares of Corporacion America Airports by 899.4% in the fourth quarter. Millennium Management LLC now owns 220,076 shares of the company's stock worth $4,107,000 after buying an additional 198,056 shares in the last quarter. Fourth Sail Capital LP boosted its stake in Corporacion America Airports by 9.0% during the first quarter. Fourth Sail Capital LP now owns 1,584,784 shares of the company's stock valued at $29,002,000 after buying an additional 130,702 shares during the period. Finally, Empirical Finance LLC purchased a new position in Corporacion America Airports during the first quarter worth about $1,631,000. 12.95% of the stock is currently owned by institutional investors.

Corporacion America Airports Trading Down 1.0%

Shares of CAAP traded down $0.19 during mid-day trading on Tuesday, reaching $19.08. The company's stock had a trading volume of 112,560 shares, compared to its average volume of 221,444. The company has a current ratio of 1.49, a quick ratio of 1.47 and a debt-to-equity ratio of 0.66. Corporacion America Airports S.A. has a 52 week low of $15.01 and a 52 week high of $22.85. The company's fifty day moving average price is $20.42 and its two-hundred day moving average price is $19.73. The stock has a market cap of $3.11 billion, a PE ratio of 22.45, a P/E/G ratio of 0.64 and a beta of 1.49.

Corporacion America Airports (NYSE:CAAP - Get Free Report) last issued its earnings results on Wednesday, August 20th. The company reported $0.30 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.17). Corporacion America Airports had a return on equity of 9.06% and a net margin of 7.53%.The business had revenue of $476.80 million during the quarter, compared to analysts' expectations of $423.15 million. On average, analysts predict that Corporacion America Airports S.A. will post 0.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on CAAP. Bank of America assumed coverage on Corporacion America Airports in a report on Thursday, May 22nd. They issued a "buy" rating and a $24.70 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of Corporacion America Airports from $24.00 to $24.50 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Wall Street Zen upgraded shares of Corporacion America Airports from a "hold" rating to a "buy" rating in a research report on Saturday. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $23.20.

Corporacion America Airports 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.