Virtu Financial LLC Takes $557,000 Position in Copa Holdings, S.A. (NYSE:CPA)

Virtu Financial LLC purchased a new stake in Copa Holdings, S.A. (NYSE:CPA) in the 1st quarter, Holdings Channel reports. The firm purchased 5,344 shares of the transportation company’s stock, valued at approximately $557,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CPA. Raymond James & Associates grew its holdings in shares of Copa by 4.6% in the 4th quarter. Raymond James & Associates now owns 113,843 shares of the transportation company’s stock valued at $12,103,000 after buying an additional 5,018 shares during the period. Sprucegrove Investment Management Ltd. grew its holdings in shares of Copa by 2.7% in the 4th quarter. Sprucegrove Investment Management Ltd. now owns 2,661,539 shares of the transportation company’s stock valued at $282,948,000 after buying an additional 70,300 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Copa by 1,778.4% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 958 shares of the transportation company’s stock worth $103,000 after purchasing an additional 907 shares during the period. Handelsbanken Fonder AB boosted its stake in Copa by 60.0% in the 4th quarter. Handelsbanken Fonder AB now owns 8,000 shares of the transportation company’s stock worth $850,000 after purchasing an additional 3,000 shares during the period. Finally, Foundry Partners LLC acquired a new position in Copa in the 4th quarter worth $4,003,000. Institutional investors and hedge funds own 70.09% of the company’s stock.

Copa Stock Down 2.0 %

Shares of Copa stock traded down $1.68 during trading hours on Friday, reaching $83.98. 312,769 shares of the company’s stock were exchanged, compared to its average volume of 276,629. The company has a 50 day moving average of $94.37 and a two-hundred day moving average of $98.24. Copa Holdings, S.A. has a fifty-two week low of $78.12 and a fifty-two week high of $114.53. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 0.58. The stock has a market cap of $3.31 billion, a P/E ratio of 6.04, a P/E/G ratio of 0.43 and a beta of 1.47.

Copa (NYSE:CPA) last issued its earnings results on Wednesday, May 15th. The transportation company reported $4.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.92. The company had revenue of $893.47 million for the quarter, compared to analysts’ expectations of $866.73 million. Copa had a net margin of 16.42% and a return on equity of 36.59%. Copa’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.99 EPS. On average, sell-side analysts forecast that Copa Holdings, S.A. will post 16.24 EPS for the current fiscal year.

Copa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $1.61 dividend. The ex-dividend date was Friday, May 31st. This represents a $6.44 dividend on an annualized basis and a dividend yield of 7.67%. Copa’s payout ratio is 46.33%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CPA shares. StockNews.com lowered shares of Copa from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Evercore ISI upped their target price on shares of Copa from $150.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, May 17th. Raymond James upped their target price on shares of Copa from $165.00 to $168.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 17th. TD Cowen reduced their target price on shares of Copa from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. Finally, Morgan Stanley assumed coverage on shares of Copa in a research note on Friday, May 24th. They issued an “overweight” rating and a $140.00 target price for the company. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Copa currently has a consensus rating of “Buy” and an average price target of $157.60.

Copa Company Profile

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.