Carrhae Capital LLP Has $62.27 Million Stake in Copa Holdings, S.A. $CPA

Carrhae Capital LLP reduced its stake in Copa Holdings, S.A. (NYSE:CPA) by 22.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 400,262 shares of the transportation company’s stock after selling 117,852 shares during the quarter. Copa comprises 1.7% of Carrhae Capital LLP’s investment portfolio, making the stock its 15th largest position. Carrhae Capital LLP’s holdings in Copa were worth $62,269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CPA. Goldman Sachs Group Inc. raised its stake in shares of Copa by 56.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 340,554 shares of the transportation company’s stock valued at $31,488,000 after purchasing an additional 122,413 shares during the period. Invesco Ltd. raised its holdings in Copa by 585.6% during the second quarter. Invesco Ltd. now owns 94,361 shares of the transportation company’s stock worth $10,377,000 after acquiring an additional 80,598 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in Copa during the second quarter worth about $435,000. NewEdge Advisors LLC acquired a new position in Copa during the second quarter valued at approximately $1,419,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Copa during the second quarter valued at approximately $12,875,000. 70.09% of the stock is owned by institutional investors and hedge funds.

Copa Stock Performance

NYSE:CPA traded down $2.52 on Tuesday, hitting $129.79. The company’s stock had a trading volume of 152,506 shares, compared to its average volume of 385,340. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 0.72. The stock has a fifty day moving average of $139.35 and a two-hundred day moving average of $132.39. The firm has a market capitalization of $5.34 billion, a P/E ratio of 8.53, a price-to-earnings-growth ratio of 1.23 and a beta of 0.99. Copa Holdings, S.A. has a one year low of $107.44 and a one year high of $160.46.

Copa (NYSE:CPA) last issued its earnings results on Saturday, August 8th. The transportation company reported $1.67 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.21). The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.08 billion. Copa had a return on equity of 22.40% and a net margin of 15.71%.The business’s revenue was up 25.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.61 earnings per share. Research analysts predict that Copa Holdings, S.A. will post 15.22 earnings per share for the current year.

Copa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $6.84 annualized dividend and a yield of 5.3%. Copa’s dividend payout ratio (DPR) is currently 44.97%.

Wall Street Analyst Weigh In

CPA has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on Copa from $165.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. Evercore reissued an “outperform” rating and issued a $175.00 price objective on shares of Copa in a report on Friday, May 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Copa in a research note on Tuesday, August 11th. UBS Group lowered their target price on shares of Copa from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Finally, Jefferies Financial Group initiated coverage on shares of Copa in a research report on Thursday, June 18th. They set a “buy” rating and a $185.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $172.20.

Copa Profile

Copa Holdings, SA (NYSE:CPA) is a Panama‐based aviation holding company that provides passenger and cargo air transportation across the Americas and the Caribbean. Through its principal subsidiary, Copa Airlines, the company operates a modern fleet of Boeing 737 aircraft, offering scheduled flights that connect passengers through its Tocumen International Airport hub in Panama City. The company also offers dedicated cargo services under the Copa Cargo brand, leveraging belly hold capacity on its passenger flights to transport freight throughout its network.

The roots of Copa Holdings trace back to 1947, when Compañía Panameña de Aviación began operations as the flag carrier of Panama.