Short Interest in Copa Holdings, S.A. (NYSE:CPA) Increases By 8.8%

Copa Holdings, S.A. (NYSE:CPA) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,480,000 shares, a growth of 8.8% from the December 15th total of 1,360,000 shares. Approximately 4.9% of the shares of the company are short sold. Based on an average trading volume of 337,200 shares, the days-to-cover ratio is presently 4.4 days.

Analysts Set New Price Targets

CPA has been the topic of a number of recent analyst reports. StockNews.com upgraded Copa from a “hold” rating to a “buy” rating in a report on Friday. UBS Group raised their target price on Copa from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Copa has a consensus rating of “Buy” and a consensus price target of $153.29.

Copa Price Performance

NYSE:CPA opened at $90.24 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The business’s fifty day moving average is $91.58 and its 200 day moving average is $92.26. Copa has a 52-week low of $80.01 and a 52-week high of $114.00.

Copa (NYSE:CPA) last posted its quarterly earnings data 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. Copa had a return on equity of 28.46% and a net margin of 18.20%. The firm had revenue of $854.71 million during the quarter, compared to analysts’ expectations of $864.90 million. During the same period in the prior year, the business earned $4.39 EPS. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities research analysts forecast that Copa will post 14.44 earnings per share for the current fiscal year.

Copa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were issued a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 7.14%. The ex-dividend date was Monday, December 2nd. Copa’s payout ratio is currently 42.59%.

Institutional Investors Weigh In On Copa

Several institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC boosted its holdings in Copa by 90.0% during the 4th quarter. SG Americas Securities LLC now owns 2,719 shares of the transportation company’s stock valued at $239,000 after acquiring an additional 1,288 shares during the period. Carolina Wealth Advisors LLC raised its position in shares of Copa by 2.7% in the 4th quarter. Carolina Wealth Advisors LLC now owns 6,408 shares of the transportation company’s stock worth $563,000 after acquiring an additional 166 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Copa in the 4th quarter worth approximately $1,438,000. Harbor Capital Advisors Inc. increased its position in Copa by 14.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 14,850 shares of the transportation company’s stock valued at $1,305,000 after buying an additional 1,850 shares in the last quarter. Finally, Legend Financial Advisors Inc. increased its position in Copa by 5.6% during the 4th 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 in the last quarter. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

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.