Hudson Bay Capital Management LP Raises Stock Position in Copa Holdings, S.A. $CPA

Hudson Bay Capital Management LP grew its stake in shares of Copa Holdings, S.A. (NYSE:CPA) by 74.0% in the third quarter, Holdings Channel.com reports. The fund owned 29,582 shares of the transportation company’s stock after purchasing an additional 12,582 shares during the period. Hudson Bay Capital Management LP’s holdings in Copa were worth $3,515,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Clark Capital Management Group Inc. increased its stake in Copa by 35.2% in the 3rd quarter. Clark Capital Management Group Inc. now owns 550,805 shares of the transportation company’s stock valued at $65,447,000 after purchasing an additional 143,497 shares in the last quarter. Two Sigma Investments LP boosted its position in Copa by 153.5% during the third quarter. Two Sigma Investments LP now owns 229,076 shares of the transportation company’s stock worth $27,219,000 after purchasing an additional 138,700 shares in the last quarter. Wasatch Advisors LP boosted its position in Copa by 33.3% during the third quarter. Wasatch Advisors LP now owns 547,618 shares of the transportation company’s stock worth $65,068,000 after purchasing an additional 136,719 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Copa by 56.1% in the first quarter. Goldman Sachs Group Inc. now owns 340,554 shares of the transportation company’s stock valued at $31,488,000 after purchasing an additional 122,413 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Copa in the second quarter valued at $12,875,000. Hedge funds and other institutional investors own 70.09% of the company’s stock.

Wall Street Analyst Weigh In

CPA has been the subject of several research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Copa in a research note on Wednesday, January 21st. Bank of America lowered their price objective on shares of Copa from $212.00 to $171.00 and set a “buy” rating on the stock in a research note on Wednesday. Itau BBA Securities assumed coverage on shares of Copa in a research report on Sunday, November 30th. They set a “market perform” rating for the company. JPMorgan Chase & Co. reduced their price target on shares of Copa from $170.00 to $165.00 and set an “overweight” rating on the stock in a report on Thursday, March 12th. Finally, Barclays increased their price target on shares of Copa from $150.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.44.

Copa Price Performance

Copa stock opened at $109.07 on Friday. The stock has a market capitalization of $4.49 billion, a P/E ratio of 6.70, a P/E/G ratio of 0.80 and a beta of 0.89. Copa Holdings, S.A. has a 12-month low of $82.54 and a 12-month high of $156.41. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.31 and a quick ratio of 1.20. The firm’s 50-day moving average is $134.52 and its two-hundred day moving average is $126.17.

Copa (NYSE:CPA) last posted its quarterly earnings data on Wednesday, February 11th. The transportation company reported $4.18 earnings per share for the quarter, missing analysts’ consensus estimates of $4.44 by ($0.26). The firm had revenue of $962.89 million during the quarter, compared to analyst estimates of $959.22 million. Copa had a net margin of 18.57% and a return on equity of 25.62%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.99 EPS. Equities analysts predict that Copa Holdings, S.A. will post 15.48 earnings per share for the current year.

Copa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were issued a $1.71 dividend. This is a boost from Copa’s previous quarterly dividend of $1.61. The ex-dividend date was Friday, February 27th. This represents a $6.84 annualized dividend and a yield of 6.3%. Copa’s payout ratio is presently 42.04%.

Copa Company 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.