16,368 Shares in Copa Holdings, S.A. (NYSE:CPA) Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. bought a new stake in shares of Copa Holdings, S.A. (NYSE:CPA) in the fourth quarter, Holdings Channel.com reports. The fund bought 16,368 shares of the transportation company’s stock, valued at approximately $1,438,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Bell Investment Advisors Inc lifted its stake in shares of Copa by 29.6% in the 3rd quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company’s stock valued at $59,000 after purchasing an additional 143 shares during the period. Legend Financial Advisors Inc. lifted its stake in Copa by 5.6% in the fourth quarter. Legend Financial Advisors Inc. now owns 7,692 shares of the transportation company’s stock valued at $676,000 after buying an additional 406 shares during the period. Quantinno Capital Management LP lifted its stake in Copa by 10.3% in the third quarter. Quantinno Capital Management LP now owns 5,219 shares of the transportation company’s stock valued at $490,000 after buying an additional 488 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Copa by 29.3% during the 2nd quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company’s stock worth $256,000 after buying an additional 610 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Copa during the 3rd quarter worth approximately $82,000. Institutional investors own 70.09% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Copa from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. StockNews.com upgraded shares of Copa from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $153.29.

Copa Stock Up 0.4 %

Shares of NYSE:CPA opened at $92.52 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.09. Copa Holdings, S.A. has a 52-week low of $80.01 and a 52-week high of $114.00. The firm has a market capitalization of $3.89 billion, a P/E ratio of 6.12, a P/E/G ratio of 0.69 and a beta of 1.44. The stock has a 50 day moving average price of $90.93 and a 200-day moving average price of $92.25.

Copa (NYSE:CPA) last issued its quarterly earnings results on Wednesday, November 20th. The transportation company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. Copa had a return on equity of 28.46% and a net margin of 18.20%. The firm had revenue of $854.71 million for the quarter, compared to analysts’ expectations of $864.90 million. During the same period in the previous year, the firm posted $4.39 EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Copa Holdings, S.A. will post 14.44 EPS for the current fiscal year.

Copa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were paid a $1.61 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $6.44 dividend on an annualized basis and a dividend yield of 6.96%. Copa’s dividend payout ratio is presently 42.59%.

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.