Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Copa Holdings, S.A. (NYSE:CPA)

Connor Clark & Lunn Investment Management Ltd. bought a new position in Copa Holdings, S.A. (NYSE:CPA) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 37,984 shares of the transportation company’s stock, valued at approximately $3,564,000.

Several other institutional investors have also recently made changes to their positions in CPA. CWA Asset Management Group LLC bought a new position in Copa during the third quarter valued at about $611,000. Silvercrest Asset Management Group LLC bought a new position in Copa during the first quarter valued at about $1,005,000. Price T Rowe Associates Inc. MD grew its position in Copa by 219.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,566 shares of the transportation company’s stock valued at $5,164,000 after buying an additional 34,027 shares during the period. Aptus Capital Advisors LLC grew its position in Copa by 15.5% during the third quarter. Aptus Capital Advisors LLC now owns 37,742 shares of the transportation company’s stock valued at $3,542,000 after buying an additional 5,054 shares during the period. Finally, Fourth Sail Capital LP grew its position in Copa by 45.0% during the third quarter. Fourth Sail Capital LP now owns 156,985 shares of the transportation company’s stock valued at $14,731,000 after buying an additional 48,692 shares during the period. Institutional investors own 70.09% of the company’s stock.

Copa Stock Up 0.7 %

Shares of NYSE CPA opened at $93.37 on Monday. Copa Holdings, S.A. has a one year low of $80.01 and a one year high of $114.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.98 and a quick ratio of 0.89. The firm’s 50 day simple moving average is $96.99 and its two-hundred day simple moving average is $94.95. The stock has a market capitalization of $3.68 billion, a P/E ratio of 6.18, a PEG ratio of 0.58 and a beta of 1.48.

Copa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a yield of 6.90%. The ex-dividend date is Monday, December 2nd. Copa’s payout ratio is currently 42.59%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. TD Cowen reduced their price target on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. dropped their price objective on shares of Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. Evercore ISI dropped their price objective on shares of Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. StockNews.com downgraded shares of Copa from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Copa currently has a consensus rating of “Buy” and an average target price of $148.83.

Copa Company Profile

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.