VELA Investment Management LLC Raises Stake in Copa Holdings, S.A. (NYSE:CPA)

VELA Investment Management LLC increased its position in Copa Holdings, S.A. (NYSE:CPA) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,042 shares of the transportation company’s stock after buying an additional 2,671 shares during the period. Copa comprises 0.9% of VELA Investment Management LLC’s portfolio, making the stock its 24th largest holding. VELA Investment Management LLC’s holdings in Copa were worth $3,079,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bell Investment Advisors Inc grew its stake in Copa by 29.6% in the 3rd quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company’s stock worth $59,000 after acquiring an additional 143 shares during the period. Point72 Hong Kong Ltd bought a new position in Copa during the 3rd quarter valued at $82,000. Optimist Retirement Group LLC acquired a new position in Copa during the 3rd quarter worth $240,000. SG Americas Securities LLC increased its position in shares of Copa by 90.0% in the 4th quarter. SG Americas Securities LLC now owns 2,719 shares of the transportation company’s stock worth $239,000 after purchasing an additional 1,288 shares during the last quarter. Finally, Hyperion Capital Advisors LP acquired a new stake in shares of Copa in the 3rd quarter valued at about $282,000. Hedge funds and other institutional investors own 70.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Cowen reiterated a “buy” rating on shares of Copa in a research note on Tuesday, February 18th. StockNews.com downgraded Copa from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, UBS Group boosted their price target on Copa from $160.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $153.29.

Copa Price Performance

CPA opened at $92.50 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.10 and a debt-to-equity ratio of 0.60. The company’s 50-day moving average price is $91.41 and its 200 day moving average price is $92.77. Copa Holdings, S.A. has a fifty-two week low of $80.01 and a fifty-two week high of $114.00. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 6.35, a price-to-earnings-growth ratio of 0.87 and a beta of 1.44.

Copa (NYSE:CPA) last announced its quarterly earnings results on Wednesday, February 12th. The transportation company reported $3.99 earnings per share for the quarter, topping analysts’ consensus estimates of $3.84 by $0.15. Copa had a return on equity of 26.70% and a net margin of 17.67%. As a group, sell-side analysts expect that Copa Holdings, S.A. will post 15.48 earnings per share for the current year.

Copa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 6.96%. The ex-dividend date of this dividend is Friday, February 28th. Copa’s dividend payout ratio is presently 44.23%.

Copa Company 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.