Copa Holdings, S.A. (NYSE:CPA) Short Interest Update

Copa Holdings, S.A. (NYSE:CPA) was the target of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 1,360,000 shares, a decrease of 6.2% from the November 30th total of 1,450,000 shares. Based on an average trading volume of 352,200 shares, the days-to-cover ratio is presently 3.9 days. Currently, 4.5% of the company’s stock are sold short.

Copa Price Performance

Shares of CPA stock traded up $0.45 during mid-day trading on Tuesday, reaching $87.87. The company’s stock had a trading volume of 18,223 shares, compared to its average volume of 292,515. The company has a market cap of $3.46 billion, a P/E ratio of 5.81, a PEG ratio of 0.72 and a beta of 1.45. The firm’s 50-day moving average is $94.25 and its two-hundred day moving average is $92.81. Copa has a 1-year low of $80.01 and a 1-year high of $114.00. 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 (NYSE:CPA) last announced its earnings results on Wednesday, November 20th. The transportation company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. The business had revenue of $854.71 million during the quarter, compared to analysts’ expectations of $864.90 million. Copa had a net margin of 18.20% and a return on equity of 28.46%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the company posted $4.39 EPS. On average, research analysts predict that Copa will post 14.48 earnings per share for the current year.

Copa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 7.33%. The ex-dividend date of this dividend was Monday, December 2nd. Copa’s dividend payout ratio (DPR) is presently 42.59%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Copa from a “buy” rating to a “hold” rating in a report on Monday, November 25th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Copa has an average rating of “Buy” and an average target price of $148.83.

Institutional Investors Weigh In On Copa

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Coronation Fund Managers Ltd. increased its holdings in Copa by 60.3% in the second quarter. Coronation Fund Managers Ltd. now owns 4,430 shares of the transportation company’s stock valued at $422,000 after purchasing an additional 1,667 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Copa by 15.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,336 shares of the transportation company’s stock worth $413,000 after acquiring an additional 569 shares during the last quarter. Aptus Capital Advisors LLC grew its holdings in Copa by 24.6% during the second quarter. Aptus Capital Advisors LLC now owns 32,688 shares of the transportation company’s stock valued at $3,111,000 after purchasing an additional 6,450 shares during the period. Rhumbline Advisers increased its stake in Copa by 69,000.0% in the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock valued at $132,000 after purchasing an additional 1,380 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. boosted its position in shares of Copa by 6.4% during the second quarter. Mesirow Institutional Investment Management Inc. now owns 122,387 shares of the transportation company’s stock worth $11,649,000 after purchasing an additional 7,415 shares in the last quarter. Institutional investors own 70.09% of the company’s stock.

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.