Driehaus Capital Management LLC Cuts Stake in Copa Holdings, S.A. (NYSE:CPA)

Driehaus Capital Management LLC cut its holdings in shares of Copa Holdings, S.A. (NYSE:CPA) by 93.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,320 shares of the transportation company’s stock after selling 150,260 shares during the quarter. Driehaus Capital Management LLC’s holdings in Copa were worth $982,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CPA. TFO Wealth Partners LLC boosted its position in Copa by 34,300.0% during the fourth quarter. TFO Wealth Partners LLC now owns 344 shares of the transportation company’s stock valued at $37,000 after buying an additional 343 shares during the period. Scarborough Advisors LLC purchased a new position in Copa in the 4th quarter worth approximately $47,000. Hexagon Capital Partners LLC lifted its position in Copa by 15.1% in the first quarter. Hexagon Capital Partners LLC now owns 776 shares of the transportation company’s stock valued at $81,000 after purchasing an additional 102 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Copa by 69,000.0% in the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock worth $132,000 after purchasing an additional 1,380 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of Copa by 45.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,858 shares of the transportation company’s stock worth $198,000 after purchasing an additional 584 shares during the last quarter. 70.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Evercore ISI dropped their price target on shares of Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. TD Cowen cut their target price on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. lowered their price target on Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft cut their price objective on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, StockNews.com downgraded Copa from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $148.83.

Copa Stock Up 1.7 %

CPA stock opened at $95.43 on Monday. Copa Holdings, S.A. has a fifty-two week low of $78.12 and a fifty-two week high of $114.00. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 6.87, a price-to-earnings-growth ratio of 0.57 and a beta of 1.48. The business’s 50 day moving average price is $89.46 and its two-hundred day moving average price is $95.78. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 0.98.

Copa (NYSE:CPA) last issued its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.11. Copa had a return on equity of 30.81% and a net margin of 19.31%. The company had revenue of $819.40 million for the quarter, compared to analysts’ expectations of $838.13 million. During the same period in the prior year, the firm earned $3.92 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, analysts forecast that Copa Holdings, S.A. will post 14.53 earnings per share for the current fiscal year.

Copa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 6.75%. The ex-dividend date was Friday, August 30th. Copa’s payout ratio is currently 46.33%.

Copa Company Profile

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 327 daily scheduled flights to 78 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2022, it operated a fleet of 97 aircraft comprising 67 Boeing 737-800 Next Generation aircraft, 9 Boeing 737-700 Next Generation aircraft, 1 Boeing 737-800 Boeing Converted Freighter, and 20 737-MAX aircraft.