PDT Partners LLC Trims Position in Copa Holdings, S.A. (NYSE:CPA)

PDT Partners LLC decreased its position in Copa Holdings, S.A. (NYSE:CPA) by 2.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,348 shares of the transportation company’s stock after selling 886 shares during the quarter. PDT Partners LLC’s holdings in Copa were worth $3,599,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Carrhae Capital LLP bought a new position in shares of Copa in the 3rd quarter worth approximately $52,166,000. Vontobel Holding Ltd. grew its position in Copa by 7,848.9% during the third quarter. Vontobel Holding Ltd. now owns 418,588 shares of the transportation company’s stock valued at $39,280,000 after buying an additional 413,322 shares during the period. Sprucegrove Investment Management Ltd. increased its holdings in Copa by 8.3% during the second quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company’s stock valued at $293,743,000 after buying an additional 236,850 shares during the last quarter. Raymond James & Associates raised its position in Copa by 61.4% in the second quarter. Raymond James & Associates now owns 294,710 shares of the transportation company’s stock worth $28,050,000 after acquiring an additional 112,143 shares during the period. Finally, Wishbone Management LP boosted its stake in shares of Copa by 20.0% during the 3rd quarter. Wishbone Management LP now owns 420,000 shares of the transportation company’s stock worth $39,413,000 after acquiring an additional 70,000 shares during the last quarter. 70.09% of the stock is owned by hedge funds and other institutional investors.

Copa Trading Down 0.0 %

CPA stock opened at $93.31 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.09 and a quick ratio of 0.89. Copa Holdings, S.A. has a 1-year low of $80.01 and a 1-year high of $114.00. The business has a 50 day simple moving average of $97.22 and a two-hundred day simple moving average of $94.79. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 6.17, a PEG ratio of 0.73 and a beta of 1.48.

Copa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a dividend of $1.61 per share. The ex-dividend date is Monday, December 2nd. This represents a $6.44 dividend on an annualized basis and a dividend yield of 6.90%. Copa’s dividend payout ratio is 42.59%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CPA. JPMorgan Chase & Co. decreased their target price on Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. Evercore ISI decreased their price objective on Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their price objective on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. StockNews.com cut shares of Copa from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. Finally, TD Cowen reduced their price objective on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $148.83.

About Copa

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.