Copa Holdings, S.A. (CPA): Are Hedge Funds Right About This Stock?

Page 2 of 2

Now, key money managers were leading the bulls’ herd. Driehaus Capital created the most valuable position in Copa Holdings, S.A. (NYSE:CPA). Israel Englander’s Millennium Management also initiated a $17.2 million position during the quarter.

Let’s go over hedge fund activity in other stocks similar to Copa Holdings, S.A. (NYSE:CPA). We will take a look at U.S. Silica Holdings Inc (NYSE:SLCA), Cousins Properties Inc (NYSE:CUZ), Boston Beer Co Inc (NYSE:SAM), and WESCO International, Inc. (NYSE:WCC). This group of stocks’ market valuations match CPA’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
SLCA 39 750752 8
CUZ 9 31877 -6
SAM 16 277663 3
WCC 22 119988 0

As you can see these stocks had an average of 21 funds with bullish positions and the average amount invested in these stocks was $295 million. That figure was $247 million in CPA’s case. U.S. Silica Holdings Inc (NYSE:SLCA) is the most popular stock in this table. On the other hand Cousins Properties Inc (NYSE:CUZ) is the least popular one with only nine investors holding long positions. Copa Holdings, S.A. (NYSE:CPA) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard U.S. Silica Holdings Inc (NYSE:SLCA) might be a better candidate to consider taking a long position in.

Disclosure: None

Page 2 of 2