Connor Clark & Lunn Investment Management Ltd. Sells 16,860 Shares of Copa Holdings, S.A. (NYSE:CPA)

Connor Clark & Lunn Investment Management Ltd. cut its position in Copa Holdings, S.A. (NYSE:CPA) by 44.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 21,124 shares of the transportation company’s stock after selling 16,860 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.05% of Copa worth $1,856,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Landscape Capital Management L.L.C. grew its position in Copa by 20.5% during the third quarter. Landscape Capital Management L.L.C. now owns 46,743 shares of the transportation company’s stock valued at $4,386,000 after buying an additional 7,948 shares during the period. Foundry Partners LLC grew its holdings in Copa by 2.4% during the 3rd quarter. Foundry Partners LLC now owns 45,581 shares of the transportation company’s stock valued at $4,277,000 after buying an additional 1,060 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Copa by 12.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 12,768 shares of the transportation company’s stock valued at $1,198,000 after acquiring an additional 1,369 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Copa by 153.5% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 21,693 shares of the transportation company’s stock valued at $2,036,000 after purchasing an additional 13,136 shares during the last quarter. Finally, Bell Investment Advisors Inc grew its position in shares of Copa by 29.6% during the third quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company’s stock valued at $59,000 after purchasing an additional 143 shares in the last quarter. 70.09% of the stock is owned by institutional investors.

Copa Price Performance

Shares of NYSE CPA opened at $93.54 on Wednesday. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 6.42, a price-to-earnings-growth ratio of 0.87 and a beta of 1.42. The company has a quick ratio of 0.99, a current ratio of 1.10 and a debt-to-equity ratio of 0.60. Copa Holdings, S.A. has a 52 week low of $80.01 and a 52 week high of $114.00. The firm has a 50-day simple moving average of $92.85 and a 200-day simple moving average of $93.14.

Copa (NYSE:CPA) last released its quarterly earnings results on Wednesday, February 12th. The transportation company reported $3.99 EPS for the quarter, beating the consensus estimate of $3.84 by $0.15. Copa had a net margin of 17.67% and a return on equity of 26.70%. On average, equities analysts predict that Copa Holdings, S.A. will post 15.48 earnings per share for the current fiscal year.

Copa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $1.61 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $6.44 annualized dividend and a yield of 6.88%. Copa’s payout ratio is 44.23%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. StockNews.com cut Copa from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Cowen reiterated a “buy” rating on shares of Copa in a research report on Tuesday, February 18th. Finally, UBS Group lifted their price target on shares of Copa from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $153.29.

Copa 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.