State Board of Administration of Florida Retirement System Sells 5,954 Shares of Copa Holdings, S.A. (NYSE:CPA)

State Board of Administration of Florida Retirement System lowered its stake in shares of Copa Holdings, S.A. (NYSE:CPAGet Rating) by 13.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,121 shares of the transportation company’s stock after selling 5,954 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.09% of Copa worth $2,352,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Ethic Inc. grew its holdings in Copa by 63.3% during the first quarter. Ethic Inc. now owns 34,599 shares of the transportation company’s stock worth $2,894,000 after buying an additional 13,417 shares in the last quarter. Capital Fund Management S.A. bought a new position in Copa in the 1st quarter valued at $5,394,000. Alyeska Investment Group L.P. grew its stake in Copa by 10.3% in the 1st quarter. Alyeska Investment Group L.P. now owns 603,860 shares of the transportation company’s stock valued at $50,507,000 after purchasing an additional 56,148 shares during the period. Paradice Investment Management LLC bought a new position in Copa in the 1st quarter valued at $6,934,000. Finally, Seven Eight Capital LP grew its stake in Copa by 19.4% in the 1st quarter. Seven Eight Capital LP now owns 3,658 shares of the transportation company’s stock valued at $306,000 after purchasing an additional 594 shares during the period. Institutional investors own 76.92% of the company’s stock.

Copa Stock Performance

Shares of NYSE CPA opened at $74.52 on Wednesday. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 11.72 and a beta of 1.29. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 1.04. Copa Holdings, S.A. has a 1-year low of $55.25 and a 1-year high of $97.63. The stock’s 50-day moving average is $73.04 and its 200 day moving average is $69.62.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. TheStreet upgraded Copa from a “c+” rating to a “b” rating in a research note on Wednesday, November 9th. Barclays upped their price objective on Copa from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. StockNews.com downgraded Copa from a “buy” rating to a “hold” rating in a research note on Friday, November 11th. Deutsche Bank Aktiengesellschaft reduced their price objective on Copa from $95.00 to $85.00 in a research note on Tuesday, July 19th. Finally, UBS Group upgraded Copa from a “neutral” rating to a “buy” rating and increased their price target for the stock from $79.00 to $120.00 in a research note on Thursday, October 27th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Copa currently has an average rating of “Moderate Buy” and an average target price of $103.00.

Copa Company Profile

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Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 204 daily scheduled flights to 69 destinations in 29 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2021, it operated a fleet of 91 aircraft comprising 77 Boeing 737-Next Generation aircraft and 14 Boeing 737 MAX 9 aircraft.

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Institutional Ownership by Quarter for Copa (NYSE:CPA)

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