RWC Asset Management LLP Trims Holdings in Corporacion America Airports S.A. (NYSE:CAAP)

Key Points

• RWC Asset Management LLP has reduced its position in Corporacion America Airports by 32.1%, now owning approximately 0.06% of the company worth $1.76 million after selling 45,510 shares.
• Several hedge funds have increased their stakes in Corporacion America Airports, with Millennium Management LLC raising its stake by an astonishing 899.4% during the 4th quarter.
• Analysts are optimistic about the stock, with JPMorgan Chase & Co. raising its price target from $22.50 to $24.00 and issuing an "overweight" rating for the company.

RWC Asset Management LLP trimmed its stake in Corporacion America Airports S.A. (NYSE:CAAP - Free Report) by 32.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,307 shares of the company's stock after selling 45,510 shares during the quarter. RWC Asset Management LLP owned approximately 0.06% of Corporacion America Airports worth $1,762,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its stake in Corporacion America Airports by 125.4% during the fourth quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company's stock worth $58,000 after buying an additional 1,726 shares in the last quarter. Bank of America Corp DE raised its position in Corporacion America Airports by 6.6% in the fourth quarter. Bank of America Corp DE now owns 13,437 shares of the company's stock worth $251,000 after acquiring an additional 836 shares during the period. Mariner LLC bought a new position in shares of Corporacion America Airports in the fourth quarter valued at approximately $255,000. PEAK6 LLC purchased a new position in shares of Corporacion America Airports during the fourth quarter worth about $278,000. Finally, Bosun Asset Management LLC bought a new position in Corporacion America Airports during the fourth quarter valued at approximately $313,000. Institutional investors and hedge funds own 12.95% of the company's stock.

Corporacion America Airports Stock Performance

Corporacion America Airports stock traded up $0.33 during mid-day trading on Tuesday, hitting $20.32. The company had a trading volume of 110,483 shares, compared to its average volume of 111,276. The company has a current ratio of 1.39, a quick ratio of 1.37 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 0.66 and a beta of 1.43. The company's fifty day moving average is $20.23 and its 200-day moving average is $19.36. Corporacion America Airports S.A. has a 12-month low of $13.97 and a 12-month high of $22.13.

Corporacion America Airports (NYSE:CAAP - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.26). Corporacion America Airports had a net margin of 7.84% and a return on equity of 9.33%. The business had revenue of $446.20 million during the quarter, compared to analysts' expectations of $418.00 million. Equities research analysts predict that Corporacion America Airports S.A. will post 0.95 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on CAAP shares. Itau BBA Securities initiated coverage on shares of Corporacion America Airports in a report on Monday, April 28th. They issued an "outperform" rating and a $20.40 price objective for the company. Bank of America started coverage on shares of Corporacion America Airports in a research note on Thursday, May 22nd. They set a "buy" rating and a $24.70 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Corporacion America Airports from $22.50 to $24.00 and gave the company an "overweight" rating in a research report on Wednesday, July 2nd.

Corporacion America Airports Company 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.