Connor Clark & Lunn Investment Management Ltd. Takes $3.56 Million Position in Copa Holdings, S.A. (NYSE:CPA)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Copa Holdings, S.A. (NYSE:CPA) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 37,984 shares of the transportation company’s stock, valued at approximately $3,564,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.10% of Copa as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Fourth Sail Capital LP lifted its position in shares of Copa by 45.0% in the third quarter. Fourth Sail Capital LP now owns 156,985 shares of the transportation company’s stock valued at $14,731,000 after buying an additional 48,692 shares during the last quarter. Aptus Capital Advisors LLC lifted its position in shares of Copa by 15.5% in the third quarter. Aptus Capital Advisors LLC now owns 37,742 shares of the transportation company’s stock valued at $3,542,000 after buying an additional 5,054 shares during the last quarter. GSA Capital Partners LLP lifted its position in shares of Copa by 240.5% in the third quarter. GSA Capital Partners LLP now owns 10,375 shares of the transportation company’s stock valued at $974,000 after buying an additional 7,328 shares during the last quarter. Apollon Wealth Management LLC acquired a new stake in Copa during the 3rd quarter worth approximately $457,000. Finally, CWA Asset Management Group LLC acquired a new stake in Copa during the 3rd quarter worth approximately $611,000. 70.09% of the stock is owned by institutional investors and hedge funds.

Copa Trading Up 0.7 %

Shares of CPA opened at $93.37 on Monday. Copa Holdings, S.A. has a 52-week low of $80.01 and a 52-week high of $114.00. The business’s fifty day moving average is $96.99 and its 200-day moving average is $94.95. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 0.98. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 6.18, a PEG ratio of 0.58 and a beta of 1.48.

Copa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a dividend of $1.61 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.44 dividend on an annualized basis and a yield of 6.90%. Copa’s dividend payout ratio is currently 42.59%.

Analysts Set New Price Targets

Several analysts recently weighed in on CPA shares. Deutsche Bank Aktiengesellschaft dropped their price target on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. dropped their price target on Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. StockNews.com cut Copa from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Evercore ISI dropped their price target on Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, TD Cowen dropped their price target on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $148.83.

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.