Engineers Gate Manager LP Lowers Stake in Copa Holdings, S.A. $CPA

Engineers Gate Manager LP cut its stake in Copa Holdings, S.A. (NYSE:CPA) by 48.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,057 shares of the transportation company’s stock after selling 26,021 shares during the period. Engineers Gate Manager LP’s holdings in Copa were worth $4,365,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in Copa by 56.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 340,554 shares of the transportation company’s stock valued at $31,488,000 after buying an additional 122,413 shares in the last quarter. Invesco Ltd. grew its stake in Copa by 585.6% in the 2nd 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 purchased a new position in shares of Copa during the second quarter worth approximately $435,000. NewEdge Advisors LLC purchased a new position in shares of Copa during the second quarter worth approximately $1,419,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Copa during the second quarter valued at approximately $12,875,000. Hedge funds and other institutional investors own 70.09% of the company’s stock.

Copa Trading Up 0.4%

NYSE:CPA opened at $129.10 on Friday. Copa Holdings, S.A. has a one year low of $107.44 and a one year high of $160.46. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.97 and a current ratio of 1.06. The firm has a market cap of $5.31 billion, a P/E ratio of 8.49, a P/E/G ratio of 1.20 and a beta of 0.99. The firm has a 50-day simple moving average of $137.42 and a 200-day simple moving average of $132.09.

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

Copa Announces Dividend

The business also recently announced 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 is Monday, August 31st. This represents a $6.84 dividend on an annualized basis and a yield of 5.3%. Copa’s dividend payout ratio is currently 44.97%.

Analysts Set New Price Targets

CPA has been the subject of a number of research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Copa in a report on Tuesday, August 11th. Jefferies Financial Group assumed coverage on Copa in a report on Thursday, June 18th. They set a “buy” rating and a $185.00 price objective on the stock. UBS Group decreased their target price on Copa from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. JPMorgan Chase & Co. upped their target price on Copa from $165.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. Finally, Wall Street Zen downgraded Copa from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $172.20.

Copa Profile

Copa Holdings, SA is a Panama-based airline holding company whose principal subsidiary is Compañía Panameña de Aviación, SA, known as Copa Airlines. The company provides scheduled passenger air transportation, connecting Panama and other destinations across North, Central and South America and the Caribbean. Copa also offers related cargo transportation services.

Copa Airlines operates its primary hub at Tocumen International Airport in Panama City, which serves as a connecting point for travel throughout the Americas.