Majedie Asset Management Ltd grew its position in shares of Copa Holdings, S.A. (NYSE:CPA) by 96.5% during the third quarter, Holdings Channel reports. The fund owned 10,366 shares of the transportation company’s stock after purchasing an additional 5,092 shares during the quarter. Majedie Asset Management Ltd’s holdings in Copa were worth $828,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CPA. Baillie Gifford & Co. boosted its holdings in Copa by 36.4% during the 2nd quarter. Baillie Gifford & Co. now owns 2,912,105 shares of the transportation company’s stock worth $275,543,000 after acquiring an additional 777,698 shares during the last quarter. RWC Asset Management LLP boosted its holdings in Copa by 84.6% during the 2nd quarter. RWC Asset Management LLP now owns 851,566 shares of the transportation company’s stock worth $80,575,000 after acquiring an additional 390,266 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Copa during the 2nd quarter worth $32,310,000. Renaissance Technologies LLC boosted its holdings in Copa by 22.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,216,902 shares of the transportation company’s stock worth $115,143,000 after acquiring an additional 222,302 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Copa during the 2nd quarter worth $13,917,000. 64.58% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on CPA shares. Cowen cut their price objective on shares of Copa from $100.00 to $90.00 and set a “market perform” rating on the stock in a report on Friday, September 21st. Zacks Investment Research raised shares of Copa from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 11th. Morgan Stanley set a $99.00 price target on shares of Copa and gave the stock a “buy” rating in a report on Tuesday, September 18th. ValuEngine raised shares of Copa from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 3rd. Finally, UBS Group downgraded shares of Copa from a “buy” rating to a “neutral” rating in a report on Friday, September 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $106.80.
Copa (NYSE:CPA) last issued its quarterly earnings results on Wednesday, August 8th. The transportation company reported $1.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.28 by ($0.10). The company had revenue of $634.10 million during the quarter, compared to analysts’ expectations of $659.06 million. Copa had a return on equity of 18.08% and a net margin of 14.58%. Copa’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the firm posted $1.48 earnings per share. On average, analysts expect that Copa Holdings, S.A. will post 7.41 EPS for the current year.
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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