Sprucegrove Investment Management Ltd. Has $284.73 Million Holdings in Copa Holdings, S.A. $CPA

Key Points

• Sprucegrove Investment Management Ltd. has reduced its stake in Copa Holdings by 7.8%, now holding 3,079,532 shares worth approximately $284.73 million, making it their second-largest position.
• Copa Holdings recently posted quarterly earnings of $3.61 per share, surpassing estimates, and reported a 2.8% year-over-year increase in revenue, totaling $842.60 million.
• Wall Street analysts have a consensus rating of "Buy" for Copa stock, with a target price averaging $159.40, indicating strong investor confidence in the company's growth potential.

Sprucegrove Investment Management Ltd. lowered its stake in Copa Holdings, S.A. (NYSE:CPA - Free Report) by 7.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,079,532 shares of the transportation company's stock after selling 260,055 shares during the period. Copa accounts for 24.5% of Sprucegrove Investment Management Ltd.'s holdings, making the stock its 2nd largest holding. Sprucegrove Investment Management Ltd. owned approximately 7.33% of Copa worth $284,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Ethic Inc. boosted its position in Copa by 0.7% in the first quarter. Ethic Inc. now owns 57,715 shares of the transportation company's stock valued at $5,266,000 after buying an additional 403 shares in the last quarter. Brandywine Global Investment Management LLC boosted its position in Copa by 1.2% in the first quarter. Brandywine Global Investment Management LLC now owns 120,510 shares of the transportation company's stock valued at $11,142,000 after buying an additional 1,400 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Copa by 9.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,184,278 shares of the transportation company's stock valued at $109,501,000 after acquiring an additional 99,955 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Copa during the first quarter valued at $1,476,000. Finally, FCA Corp TX bought a new position in shares of Copa during the first quarter valued at $277,000. Institutional investors and hedge funds own 70.09% of the company's stock.

Copa Trading Down 0.7%

NYSE CPA traded down $0.7780 during mid-day trading on Wednesday, reaching $114.2720. 329,223 shares of the stock were exchanged, compared to its average volume of 326,782. Copa Holdings, S.A. has a one year low of $82.54 and a one year high of $121.63. The stock has a 50 day simple moving average of $110.07 and a 200-day simple moving average of $100.47. The stock has a market cap of $4.70 billion, a P/E ratio of 7.43, a P/E/G ratio of 1.02 and a beta of 1.39. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.93.

Copa (NYSE:CPA - Get Free Report) last announced its earnings results on Wednesday, August 6th. The transportation company reported $3.61 earnings per share for the quarter, topping analysts' consensus estimates of $3.25 by $0.36. Copa had a net margin of 18.36% and a return on equity of 26.22%. The business had revenue of $842.60 million during the quarter, compared to the consensus estimate of $833.12 million. During the same quarter last year, the firm earned $2.88 earnings per share. Copa's quarterly revenue was up 2.8% on a year-over-year basis. On average, analysts anticipate that Copa Holdings, S.A. will post 15.48 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CPA. Wall Street Zen raised shares of Copa from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Morgan Stanley reaffirmed an "overweight" rating and set a $145.00 price target (up previously from $125.00) on shares of Copa in a research note on Monday, August 11th. TD Cowen raised their price target on shares of Copa from $144.00 to $147.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Cowen reaffirmed a "buy" rating on shares of Copa in a research note on Friday, August 8th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Copa in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $159.40.

About Copa

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.