Connor Clark & Lunn Investment Management Ltd. Trims Holdings in Copa Holdings, S.A. (NYSE:CPA)

Connor Clark & Lunn Investment Management Ltd. lowered its stake in Copa Holdings, S.A. (NYSE:CPA) by 44.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,124 shares of the transportation company’s stock after selling 16,860 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Copa were worth $1,856,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Landscape Capital Management L.L.C. boosted its stake in shares of Copa by 20.5% in 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 in the last quarter. Foundry Partners LLC raised its position in Copa by 2.4% during the third quarter. Foundry Partners LLC now owns 45,581 shares of the transportation company’s stock worth $4,277,000 after acquiring an additional 1,060 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake 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 buying an additional 1,369 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in shares of Copa by 153.5% during the third quarter. Dynamic Technology Lab Private Ltd now owns 21,693 shares of the transportation company’s stock valued at $2,036,000 after acquiring an additional 13,136 shares during the last quarter. Finally, Bell Investment Advisors Inc boosted its stake in shares of Copa by 29.6% during the 3rd quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company’s stock worth $59,000 after purchasing an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 70.09% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on CPA shares. Cowen restated a “buy” rating on shares of Copa in a report on Tuesday, February 18th. UBS Group boosted their price target on Copa from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Finally, StockNews.com lowered Copa from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $153.29.

Copa Price Performance

NYSE CPA opened at $93.54 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.10 and a quick ratio of 0.99. The company’s 50 day simple moving average is $92.85 and its 200 day simple moving average is $93.14. Copa Holdings, S.A. has a 12 month low of $80.01 and a 12 month high of $114.00. The firm has a market capitalization of $3.93 billion, a PE ratio of 6.42, a P/E/G ratio of 0.87 and a beta of 1.42.

Copa (NYSE:CPA) last announced its quarterly earnings data on Wednesday, February 12th. The transportation company reported $3.99 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts forecast that Copa Holdings, S.A. will post 15.48 EPS for the current fiscal year.

Copa Dividend Announcement

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

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.