Renaissance Technologies LLC Sells 38,100 Shares of Copa Holdings, S.A. $CPA

Renaissance Technologies LLC reduced its stake in Copa Holdings, S.A. (NYSE:CPA) by 4.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 734,428 shares of the transportation company’s stock after selling 38,100 shares during the period. Renaissance Technologies LLC’s holdings in Copa were worth $83,438,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CPA. Sei Investments Co. boosted its stake in shares of Copa by 5.1% during the first quarter. Sei Investments Co. now owns 351,310 shares of the transportation company’s stock valued at $39,912,000 after purchasing an additional 17,113 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Copa by 5.0% in the first quarter. PNC Financial Services Group Inc. now owns 3,181 shares of the transportation company’s stock worth $361,000 after buying an additional 151 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Copa by 3.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,396,963 shares of the transportation company’s stock worth $158,691,000 after buying an additional 52,243 shares during the period. Bank of New York Mellon Corp raised its holdings in Copa by 19.6% during the 1st quarter. Bank of New York Mellon Corp now owns 3,479 shares of the transportation company’s stock valued at $395,000 after buying an additional 571 shares during the last quarter. Finally, Journey Advisory Group LLC bought a new stake in Copa during the 1st quarter valued at $3,416,000. Institutional investors own 70.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Copa from $165.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. Raymond James Financial upped their price objective on shares of Copa from $190.00 to $195.00 and gave the company a “strong-buy” rating in a research note on Tuesday, July 14th. Jefferies Financial Group started coverage on shares of Copa in a report on Thursday, June 18th. They set a “buy” rating and a $185.00 target price for the company. Evercore reissued an “outperform” rating and issued a $175.00 target price on shares of Copa in a research note on Friday, May 15th. Finally, Wall Street Zen upgraded Copa from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Copa has an average rating of “Buy” and a consensus target price of $171.73.

Copa Trading Up 0.3%

NYSE:CPA opened at $136.09 on Friday. The company has a 50-day moving average price of $143.61 and a 200-day moving average price of $133.09. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 7.94, a P/E/G ratio of 1.00 and a beta of 1.00. The company has a current ratio of 1.16, a quick ratio of 1.06 and a debt-to-equity ratio of 0.66. Copa Holdings, S.A. has a 12 month low of $107.44 and a 12 month high of $160.46.

Copa (NYSE:CPA) last announced its quarterly earnings results on Wednesday, May 13th. The transportation company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.43 by $0.73. Copa had a net margin of 18.76% and a return on equity of 26.01%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the company earned $4.28 earnings per share. Copa’s quarterly revenue was up 17.0% on a year-over-year basis. Equities analysts predict that Copa Holdings, S.A. will post 16.6 EPS for the current year.

Copa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Friday, May 29th. Copa’s payout ratio is presently 39.88%.

About Copa

Copa Holdings, SA (NYSE:CPA) is a Panama‐based aviation holding company that provides passenger and cargo air transportation across the Americas and the Caribbean. Through its principal subsidiary, Copa Airlines, the company operates a modern fleet of Boeing 737 aircraft, offering scheduled flights that connect passengers through its Tocumen International Airport hub in Panama City. The company also offers dedicated cargo services under the Copa Cargo brand, leveraging belly hold capacity on its passenger flights to transport freight throughout its network.

The roots of Copa Holdings trace back to 1947, when Compañía Panameña de Aviación began operations as the flag carrier of Panama.