SPX Gestao de Recursos Ltda Has $25.54 Million Holdings in Copa Holdings, S.A. $CPA

Key Points

• SPX Gestao de Recursos Ltda reduced its stake in Copa Holdings by 42.9% in the first quarter, selling 168,750 shares and leaving it with 224,792 shares valued at about $25.54 million. Copa now represents roughly 2.1% of the fund’s portfolio.
• Copa’s latest quarterly results came in above expectations, with earnings of $5.16 per share versus the $4.43 consensus and revenue of $1.05 billion, up 17% year over year. Analysts still expect the company to earn 16.6 per share for the full year.
• The airline also declared a quarterly dividend of $1.71 per share, equal to an annualized yield of 4.9%. Meanwhile, Wall Street sentiment remains positive, with the stock carrying an average Buy rating and a target price of $171.73.

SPX Gestao de Recursos Ltda cut its stake in Copa Holdings, S.A. (NYSE:CPA - Free Report) by 42.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 224,792 shares of the transportation company's stock after selling 168,750 shares during the period. Copa accounts for about 2.1% of SPX Gestao de Recursos Ltda's investment portfolio, making the stock its 14th biggest position. SPX Gestao de Recursos Ltda owned approximately 0.55% of Copa worth $25,539,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Copa by 1,361,326.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 258,671 shares of the transportation company's stock valued at $31,198,000 after purchasing an additional 258,652 shares in the last quarter. INCA Investments LLC acquired a new position in Copa during the 1st quarter worth $26,950,000. Balyasny Asset Management L.P. lifted its holdings in Copa by 428.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 258,251 shares of the transportation company's stock worth $31,148,000 after buying an additional 209,381 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Copa in the 4th quarter valued at $18,813,000. Finally, Two Sigma Investments LP boosted its position in Copa by 153.5% in the 3rd quarter. Two Sigma Investments LP now owns 229,076 shares of the transportation company's stock valued at $27,219,000 after buying an additional 138,700 shares during the last quarter. 70.09% of the stock is currently owned by institutional investors and hedge funds.

Copa Price Performance

CPA opened at $139.60 on Friday. The company has a fifty day moving average price of $142.09 and a two-hundred day moving average price of $132.49. The firm has a market capitalization of $5.74 billion, a PE ratio of 8.14, a P/E/G ratio of 1.02 and a beta of 1.00. Copa Holdings, S.A. has a 52 week low of $106.56 and a 52 week high of $160.46. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.06 and a current ratio of 1.16.

Copa (NYSE:CPA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The transportation company reported $5.16 earnings per share for the quarter, beating analysts' consensus estimates of $4.43 by $0.73. Copa had a return on equity of 26.01% and a net margin of 18.76%.The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the business posted $4.28 EPS. The firm's quarterly revenue was up 17.0% on a year-over-year basis. As a group, analysts anticipate that Copa Holdings, S.A. will post 16.6 earnings per share for the current year.

Copa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Friday, May 29th. Copa's dividend payout ratio is currently 39.88%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CPA shares. Raymond James Financial boosted their target price on Copa from $190.00 to $195.00 and gave the stock a "strong-buy" rating in a research report on Tuesday. Jefferies Financial Group began coverage on Copa in a report on Thursday, June 18th. They issued a "buy" rating and a $185.00 price target on the stock. UBS Group lifted their price objective on Copa from $185.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, May 26th. The Goldman Sachs Group boosted their price objective on Copa from $138.00 to $156.00 and gave the stock a "buy" rating in a report on Friday, May 15th. Finally, Evercore reissued an "outperform" rating and set a $175.00 price objective on shares of Copa in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $171.73.

Copa Profile

Copa Holdings, SA NYSE: CPA is a Panama‐based aviation holding company that provides passenger and cargo air transportation across the Americas and the Caribbean. Through its principal subsidiary, Copa Airlines, the company operates a modern fleet of Boeing 737 aircraft, offering scheduled flights that connect passengers through its Tocumen International Airport hub in Panama City. The company also offers dedicated cargo services under the Copa Cargo brand, leveraging belly hold capacity on its passenger flights to transport freight throughout its network.

The roots of Copa Holdings trace back to 1947, when Compañía Panameña de Aviación began operations as the flag carrier of Panama.

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