Mesirow Institutional Investment Management Inc. Raises Stake in Copa Holdings, S.A. (NYSE:CPA)

Mesirow Institutional Investment Management Inc. boosted its holdings in Copa Holdings, S.A. (NYSE:CPA) by 6.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 122,387 shares of the transportation company’s stock after purchasing an additional 7,415 shares during the quarter. Mesirow Institutional Investment Management Inc. owned about 0.31% of Copa worth $11,649,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Capital World Investors increased its position in Copa by 5.9% during the 4th quarter. Capital World Investors now owns 3,923,752 shares of the transportation company’s stock valued at $417,134,000 after buying an additional 218,236 shares in the last quarter. Raymond James & Associates raised its stake in Copa by 61.4% during the 2nd quarter. Raymond James & Associates now owns 294,710 shares of the transportation company’s stock valued at $28,050,000 after buying an additional 112,143 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Copa by 34.8% in the 1st quarter. Sei Investments Co. now owns 346,078 shares of the transportation company’s stock worth $36,047,000 after buying an additional 89,354 shares during the last quarter. SPX Gestao de Recursos Ltda grew its holdings in shares of Copa by 25.0% in the fourth quarter. SPX Gestao de Recursos Ltda now owns 281,573 shares of the transportation company’s stock worth $29,934,000 after acquiring an additional 56,363 shares during the period. Finally, Invenomic Capital Management LP grew its holdings in shares of Copa by 90.5% in the fourth quarter. Invenomic Capital Management LP now owns 116,800 shares of the transportation company’s stock worth $12,417,000 after acquiring an additional 55,492 shares during the period. Institutional investors own 70.09% of the company’s stock.

Copa Trading Down 1.5 %

CPA stock opened at $89.03 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.98 and a debt-to-equity ratio of 0.56. Copa Holdings, S.A. has a twelve month low of $78.12 and a twelve month high of $114.00. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 6.41, a price-to-earnings-growth ratio of 0.56 and a beta of 1.47. The firm’s fifty day simple moving average is $90.82 and its two-hundred day simple moving average is $96.99.

Copa (NYSE:CPA) last issued its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.11. The firm had revenue of $819.40 million during the quarter, compared to analyst estimates of $838.13 million. Copa had a return on equity of 30.81% and a net margin of 19.31%. Copa’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company earned $3.92 EPS. As a group, analysts anticipate that Copa Holdings, S.A. will post 14.81 earnings per share for the current year.

Copa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 7.23%. The ex-dividend date of this dividend is Friday, August 30th. Copa’s dividend payout ratio is presently 46.33%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their target price on Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a research report on Thursday, August 29th. StockNews.com lowered Copa from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. TD Cowen dropped their target price 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. Deutsche Bank Aktiengesellschaft dropped their price target on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Evercore ISI cut their target price on shares of Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. One 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $148.83.

About Copa

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.