Millennium Management LLC Purchases New Holdings in Copa Holdings, S.A. (CPA)

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Millennium Management LLC purchased a new position in shares of Copa Holdings, S.A. (NYSE:CPA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 60,997 shares of the transportation company’s stock, valued at approximately $4,801,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CPA. Nisa Investment Advisors LLC increased its holdings in shares of Copa by 86.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,050 shares of the transportation company’s stock worth $161,000 after buying an additional 950 shares during the last quarter. Paragon Capital Management Ltd acquired a new stake in Copa in the 4th quarter valued at approximately $276,000. Oppenheimer Asset Management Inc. increased its holdings in Copa by 15.4% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 3,597 shares of the transportation company’s stock valued at $284,000 after purchasing an additional 481 shares during the last quarter. Schafer Cullen Capital Management Inc acquired a new stake in Copa in the 4th quarter valued at approximately $474,000. Finally, Bank of Montreal Can increased its holdings in Copa by 5.7% in the 4th quarter. Bank of Montreal Can now owns 6,314 shares of the transportation company’s stock valued at $496,000 after purchasing an additional 339 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

Shares of CPA stock opened at $80.74 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.94. Copa Holdings, S.A. has a 52 week low of $67.38 and a 52 week high of $125.68. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46.

Copa (NYSE:CPA) last issued its quarterly earnings results on Wednesday, February 13th. The transportation company reported $1.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.02). Copa had a net margin of 3.29% and a return on equity of 13.56%. The business had revenue of $656.06 million during the quarter, compared to analysts’ expectations of $660.29 million. During the same period in the prior year, the business earned $2.36 EPS. The business’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, equities analysts forecast that Copa Holdings, S.A. will post 7.08 EPS for the current fiscal year.

Several research firms recently weighed in on CPA. Zacks Investment Research downgraded shares of Copa from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. ValuEngine downgraded shares of Copa from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Imperial Capital reiterated an “underperform” rating and issued a $77.00 target price (up previously from $68.00) on shares of Copa in a report on Wednesday, February 20th. TheStreet downgraded shares of Copa from a “b” rating to a “c+” rating in a report on Thursday, February 14th. Finally, Stifel Nicolaus upgraded shares of Copa from a “sell” rating to a “hold” rating and lifted their target price for the company from $70.00 to $90.00 in a report on Friday, February 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $98.08.

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About Copa

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers flights to 75 destinations in 31 countries in North, Central, and South America, as well as the Caribbean. As of April 12, 2018, it operated a fleet of 101 aircraft comprising 81 Boeing 737NG aircraft and 20 EMBRAER-190s aircraft.

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Institutional Ownership by Quarter for Copa (NYSE:CPA)

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