Hosking Partners LLP cut its stake in shares of Copa Holdings, S.A. (NYSE:CPA) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 128,162 shares of the transportation company’s stock after selling 4,875 shares during the period. Hosking Partners LLP owned 0.30% of Copa worth $10,354,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. lifted its position in Copa by 4.5% during the first quarter. BlackRock Inc. now owns 2,173,874 shares of the transportation company’s stock worth $175,628,000 after acquiring an additional 93,099 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Copa by 19.8% during the first quarter. BNP Paribas Arbitrage SA now owns 2,037 shares of the transportation company’s stock worth $165,000 after acquiring an additional 336 shares during the last quarter. Aptus Capital Advisors LLC acquired a new stake in Copa during the first quarter worth approximately $419,000. Scotia Capital Inc. lifted its position in Copa by 2.1% during the first quarter. Scotia Capital Inc. now owns 20,363 shares of the transportation company’s stock worth $1,645,000 after acquiring an additional 410 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in Copa by 29.7% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 908 shares of the transportation company’s stock worth $73,000 after acquiring an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 80.39% of the company’s stock.
Several brokerages have issued reports on CPA. The Goldman Sachs Group upgraded shares of Copa from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $73.00 to $100.00 in a research report on Monday, April 19th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $65.00 price target on shares of Copa in a research report on Monday, March 29th. Zacks Investment Research upgraded shares of Copa from a “sell” rating to a “hold” rating and set a $90.00 price target for the company in a research report on Tuesday, May 11th. Deutsche Bank Aktiengesellschaft upgraded shares of Copa from a “hold” rating to a “buy” rating and lifted their price target for the company from $85.00 to $95.00 in a research report on Tuesday, April 27th. Finally, HSBC downgraded shares of Copa from a “buy” rating to a “hold” rating in a research report on Wednesday, May 5th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Copa currently has a consensus rating of “Hold” and a consensus price target of $77.90.
Shares of CPA opened at $82.31 on Thursday. Copa Holdings, S.A. has a one year low of $40.15 and a one year high of $94.91. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.42 and a current ratio of 1.50. The firm has a 50 day simple moving average of $82.43 and a two-hundred day simple moving average of $81.27.
Copa (NYSE:CPA) last announced its quarterly earnings data on Wednesday, May 5th. The transportation company reported ($2.23) EPS for the quarter, missing the consensus estimate of ($2.20) by ($0.03). Copa had a negative net margin of 200.30% and a negative return on equity of 30.16%. The firm had revenue of $185.68 million for the quarter, compared to analyst estimates of $188.93 million. On average, analysts expect that Copa Holdings, S.A. will post -3.46 EPS for the current fiscal year.
About Copa
Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 104 daily scheduled flights to 54 destinations in 25 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2020, it operated a fleet of 77 aircraft comprising 70 Boeing 737-Next Generation aircraft and 7 Boeing 737 MAX 9 aircraft.
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