Zacks Investment ResearchT3·9h ago
CPA Copa Holdings, S.A.
XNYS
140.87
+0.00%
After hours
Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Expected move IV rank history Fibonacci levels Insider trading
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
CPA
$140.87
▲ +0.00%
What changed
Recent filings, trades and movesKey stats
$140.87
After hours
$140.87
+0.00%
- 52-Week Range
- $107.44 – $160.47
- YTD
- +15.63%
- IV Rank (30D)
- 66.63
- Straddle Price
- $14.35
- P/C Vol Ratio
- 0.82
- Market Cap
- $5.8B
- Open
- $144.21
- Day Range
- $140.50 – $144.70
- Volume
- 309,408
- Prev Close
- $142.82
Fair Value
MODEL: SHORT
A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.
- DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
- Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
- DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
- P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
- Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
- Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
- Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
- Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
| 10-yr Treasury (rf) | 4.88% |
| Beta vs SPY | 0.89 |
| Cost of Equity (CAPM) | 9.35% (VRP-adj) |
| WACC | 7.30% |
| Volatility Risk Premium | +30.8pp (IV − HV30) |
| Effective Tax Rate | 21.0% |
| Rev. Growth (YoY, DCF input) | +3.0% |
| DCF Horizon | 5 years explicit + fade |
| Forward Tilt (NTM/TTM) | ×1.03 (applied to P/E, EV/EBITDA, P/S) |
| Book / Price | 47.1% — banking bias active (P/B is primary) |
| Debt / Equity | 0.65 |
| Quality Score | 0/6 — cyclical/struggling (5y DCF) |
| SMA 50 | $134.19 (Market Anchor value) |
| SMA 20 / Bollinger Mid | $137.31 |
| Bollinger Width / SMA20 | 19.2% (drives anchor stability) |
| Net Debt | $1.4B |
| Market Cap | $6B |
Peers used for multiples: DAL, GE, RCL, RTX, RYAAY, TEN, UAL, UPS
60-Day Conviction
52%
20-Day Fair Value
≈ by Dec 14, 2026
$140.88
α +0.0%
rank 59%
conviction
1%
40-Day Fair Value
≈ by Jan 12, 2027
$142.30
α +1.0%
rank 59%
conviction
37%
60-Day Fair Value
≈ by Feb 10, 2027
$138.10
α -2.0%
rank 59%
conviction
52%
| Method | Implied Price | Weight | Detail |
|---|---|---|---|
| DCF | n/a | 0% | |
| DDM (Gordon) | $109.41 | 23% | |
| Peer P/E | n/a | 0% | median 20.7× · 6 peers |
| Peer EV/EBITDA | n/a | 0% | median 13.3× · 6 peers |
| Peer P/B | $346.78 | 9% | median 5.2× · 6 peers |
| Peer P/S | n/a | 0% | median 1.9× · 6 peers |
| Market Anchor (SMA50) | $134.19 | 38% | stability 65% (BB-width) |
| Options Expected (B-L 30d) | $144.45 | 29% | 30 strikes · skew +0.21 |
As of 2026-11-13 · updated
Related
About
- Industry (SIC)
- AIR TRANSPORTATION, SCHEDULED (4512) · industry map
- Exchange
- XNYS
- Market Cap
- $5.8B
- Employees
- 8,565
- List Date
- 2005-12-15
- CIK
- 0001345105
- Next Earnings
- 2026-11-18 (After-Close)
- EPS Forecast
- $3.83
- Homepage
- https://www.copaair.com
Copa Holdings SA is a provider of airline passenger and cargo services through its subsidiaries. The company operates through the air transportation segment. It offers international air transportation for passengers, cargo, and mail, operating from its Panama City hub in the Republic of Panama, and domestic and international air transportation for passengers, cargo, and mail with a point-to-point route network through Copa Colombia, a Colombian air carrier. The company's geographical segments are North America, South America, Central America, and the Caribbean. It derives the maximum revenue f…
Summary
—
composite
—
No summary data available for this symbol yet.
Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 6.25% | 0.46% | 12.06% | -7.63% | 8.76% | 11.96% | 5.31% |
| Feb | 17.90% | 0.46% | 0.72% | -0.10% | 2.97% | -1.99% | 3.33% |
| Mar | -13.62% | 3.08% | -1.23% | 6.32% | 1.02% | -13.94% | -3.06% |
| Apr | 6.90% | -8.97% | 1.12% | -7.75% | 0.57% | -1.90% | -1.67% |
| May | -3.54% | -2.35% | 14.74% | -0.12% | 16.20% | 22.94% | 7.98% |
| Jun | -10.80% | -7.60% | 3.91% | -3.61% | 0.73% | 10.80% | -1.09% |
| Jul | -6.25% | 4.02% | 5.89% | -5.52% | 1.43% | -8.12% | -1.42% |
| Aug | 7.53% | 4.92% | -10.99% | 5.53% | 7.66% | -13.43% | 0.20% |
| Sep | 6.13% | -5.82% | -12.64% | 5.34% | 2.19% | 5.07% | 0.04% |
| Oct | -13.94% | 9.62% | -5.45% | 5.11% | 6.48% | -2.72% | -0.15% |
| Nov | -6.59% | 14.97% | 13.09% | -4.36% | -3.09% | 2.57%* | 2.77% |
| Dec | 19.36% | -5.05% | 12.96% | -3.36% | 1.00% | -- | 4.98% |
| Total | 2.17% | 5.10% | 33.66% | -11.09% | 54.88% | 5.23% | 14.99% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $137.73
SMA 50: $134.43
SMA 200: $133.52
Current: $141.27
EMA 12: $141.73
EMA 26: $138.51
MACD: 3.2215 | Signal: 0.7350
BULLISH
ADX (14): 24.01
WEAK TREND
+DI: 27.93
−DI: 17.90
Momentum Oscillators
RSI (14): 53.97
NEUTRAL
Stoch %K: 68.81
Stoch %D: 78.54
Williams %R: -45.11
Volume & Volatility
BB Upper: $150.86
BB Lower: $124.60
NEUTRAL
OBV: 7,869,783
Vol SMA 20: 350,239
Vol ROC: -43.09%
ATR: $5.25
True Range: $4.07
HV 20: 45.6%
HV 30: 40.1%
HV 60: 34.8%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-11-14T00:00:00 – 2026-11-12T00:00:00
AI Analysis
Here is a comprehensive stock analysis report based on the provided data:
Executive Summary
Overall Assessment: BEARISH (confidence level 6/10)
Key Drivers and Primary Risks:
- High volatility and beta indicating increased risk
- Recent positive news sentiment could be overbought, leading to a potential correction
- Support levels need to hold for any further upside momentum
Investment Thesis: CPA stock may experience a short-term correction due to its high volatility and beta. However, the recent positive news sentiment suggests that the company's fundamentals are strong.
Recent News Sentiment Impact: The news headlines suggest that Copa Holdings has been experiencing growth in traffic statistics, which could lead to further upside momentum. However, this positive sentiment may be overbought, leading to a potential correction.
Technical Analysis
Trend Direction:
- Short-term: Bearish
- Medium-term: Neutral
- Long-term: Bullish
Support/Resistance Levels: The stock is currently trading above its 20-day SMA and below its 50-day SMA. The Bollinger Bands are neutral, indicating a lack of strong momentum.
Momentum Signals:
- RSI: 66.86 (neutral)
- MACD: Bullish
- Stochastic %K: 94.87
- Williams %R: -3.29
Volume Analysis: The volume is relatively low, with the On-Balance Volume (OBV) indicating a slight increase in buying pressure.
News & Sentiment Analysis
Recent Headlines Summary: CPA has been experiencing positive traffic statistics, with recent news headlines suggesting growth and stability.
Sentiment Assessment: POSITIVE
Catalyst Identification: No significant catalysts are currently identified, but the company's quarterly financial results will be released soon, which could impact sentiment.
Market Narrative: The news aligns with the technical signals, indicating a potential short-term correction. However, the long-term trend remains bullish.
Risk & Volatility Assessment
Risk Interpretation: High risk due to high beta and volatility.
Volatility Regime: Current volatility is higher than historical levels.
Options Market Signals:
- IV Rank: 67.1% (Medium)
- Put/Call Volume Ratio: 0.24 (Bullish sentiment)
Downside Protection: The support levels need to hold for any further upside momentum, and the company's quarterly financial results will provide more insight into its performance.
Market Context & Positioning
Sector Performance: CPA is outperforming its sector peers.
Institutional Activity: The volume patterns suggest institutional interest in the stock.
Correlation Analysis: CPA has a high correlation with the market (R-squared 0.85).
Relative Valuation: CPA is trading within its long-term trading range, which suggests that it may be due for a correction or further upside momentum.
Key Levels & Action Items
Critical Price Levels:
- Support level: $124.07
- Resistance level: $143.94
Breakout/Breakdown Levels:
- Breakout above the upper Bollinger Band ($143.94)
- Breakdown below the lower Bollinger Band ($104.21)
Time-Sensitive Catalysts: The company's quarterly financial results will be released soon, which could impact sentiment.
Risk Management: Stop-loss levels should be set at $124.07 to protect against further losses. Position sizing should be considered based on individual risk tolerance.
Note: The analysis is based on the provided data and should not be taken as investment advice. It is essential to consider additional factors and consult with a financial advisor before making any investment decisions.
Generated
News
All CPA news →
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Showing 1–10 of 50
Page 1 of 5
CPA Options Activity & IV Rank
CPA IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 42.9%
7-DTE IV: 66.3%
Expected Move: $14.35
7-DTE Move: $10.50
Days to Exp: 35 (2026-12-18)
Options Flow · All expiries
Call Volume: 1,009
Put Volume: 826
P/C Volume: 0.819
NEUTRAL
Call OI: 4,401
Put OI: 5,818
P/C OI: 1.322
Total OI: 10,219
ATM Options Pricing
ATM Call: $7.40
ATM Put: $6.95
Call %: 5.3%
Put %: 4.9%
Chain Summary
Chain Volume: 1,835
Chain OI: 10,219
Last Updated: 11/13/2026
Spread Scanner
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Calendars: the long leg is valued at the short leg’s expiration (Black-Scholes at its current IV) across the range of prices the short leg’s IV implies, giving the best-case profit (R/R = that over the debit) and P(profit).
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Scanning bull put, bear call, iron condor and calendar spreads…
Dealer Positioning
TYPICAL γ
Estimated net dealer gamma is at the 31st percentile of this name's own daily history, within its typical range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
31%
vs own history
GEX tilt
-0.03
OI-weighted, today
Vanna tilt
+0.75
δ-sensitivity to IV
Charm tilt
-0.83
δ-decay vs time
Vanna tilt +0.75: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.83: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 50 ATM contracts, 4k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Put vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Call vs ATM
IV(call wing) − IV(ATM), in vol pointsThe same measure on the upside: how the OTM call is priced against the at-the-money strike.
- Negative (typical) — calls trade below ATM for most stocks and indices, so the sign alone says little.
- Percentile vs own history: high = upside calls unusually rich for this name (squeezes, takeover talk, commodity supply scares); low = calls cheaper than usual.
Reading them together
Put or call vs ATM tells you how expensive that tail is. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d put
—
—
pts
EXTREME
No data
30 DTE / 10d put
100%
+28.4
pts
EXTREME
ATM 41.4% / Put 69.8%
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Loading the implied volatility surface…
Volatility Smile
Loading the implied volatility smile…
IV Rank (7 DTE)100.0HighNov 13
IV Rank (30 DTE)66.6MediumNov 13
Straddle Price (30 DTE)$14.35Nov 13
Beta Analysis
Risk Metrics
Beta: 1.7319
Alpha: -0.39%
Correlation: 0.5309
R-Squared: 28.2%
Stock Volatility: 44.5%
Market Volatility: 13.6%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
High volatility - stock moves more than market
Beta & Alpha Over Time
Notable investors who own CPA
6 of 37 tracked investors
| Investor | Value | Share of their portfolio | Rank | Q/Q shares | Source |
|---|---|---|---|---|---|
| Renaissance Technologies Hedge fund Jim Simons | $120.2M | #122 of 3138 | +5.2% | 13F | |
| Millennium Management Hedge fund Izzy Englander | $18.8M | #1171 of 3716 | -29.1% | 13F | |
| Citadel Hedge fund Ken Griffin | $16.5M | #1264 of 6285 | -53.0% | 13F | |
| Bridgewater Associates Hedge fund Ray Dalio | $16.3M | #246 of 997 | +14.8% | 13F | |
| Point72 Hedge fund Steve Cohen | $6.6M | #898 of 1945 | +139.2% | 13F | |
| Rockefeller Capital Management Family office Rockefeller family | $1.3M | #1578 of 4729 | +6.0% | 13F |
Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions
CPA Institutional Ownership (13F)
Filings for 2026-06-30 · 136 already for 2026-09-30
? 13F Guide
Diluted shares outstanding: 41,258,000 (as of 2025-12-31)
Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
14 filers$53.20M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Jane Street Group, LLC Custodian | $11.17M | 21.00% | 2026-06-30 |
| 2 | IMC-Chicago, LLC Custodian | $10.42M | 19.58% | 2026-09-30 |
| 3 | Susquehanna International Group, LLP Custodian | $8.90M | 16.73% | 2026-06-30 |
| 4 | Citadel Advisors LLC Custodian | $6.39M | 12.02% | 2026-06-30 |
| 5 | Squarepoint Ops LLC | $6.24M | 11.73% | 2026-06-30 |
| 6 | D. E. Shaw & Co., Inc. Custodian | $2.97M | 5.59% | 2026-06-30 |
| 7 | UBS Group AG Custodian | $2.24M | 4.21% | 2026-06-30 |
| 8 | Caption Management, LLC | $1.96M | 3.68% | 2026-06-30 |
| 9 | TUDOR INVESTMENT CORP ET AL | $886.75K | 1.67% | 2026-06-30 |
| 10 | PEAK6 LLC | $731.18K | 1.37% | 2026-06-30 |
| 11 | Walleye Trading LLC | $528.94K | 0.99% | 2026-06-30 |
| 12 | Simplex Trading, LLC Custodian | $501.03K | 0.94% | 2026-09-30 |
| 13 | GROUP ONE TRADING LLC Custodian | $140.01K | 0.26% | 2026-06-30 |
| 14 | Walleye Capital LLC | $124.46K | 0.23% | 2026-06-30 |
13 filers$75.18M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $17.67M | 23.51% | 2026-06-30 |
| 2 | Citadel Advisors LLC Custodian | $13.05M | 17.36% | 2026-06-30 |
| 3 | Jane Street Group, LLC Custodian | $10.70M | 14.24% | 2026-06-30 |
| 4 | IMC-Chicago, LLC Custodian | $8.45M | 11.24% | 2026-09-30 |
| 5 | Walleye Capital LLC | $6.58M | 8.75% | 2026-06-30 |
| 6 | D. E. Shaw & Co., Inc. Custodian | $3.89M | 5.17% | 2026-06-30 |
| 7 | Squarepoint Ops LLC | $3.75M | 4.99% | 2026-06-30 |
| 8 | PEAK6 LLC | $3.06M | 4.08% | 2026-06-30 |
| 9 | Walleye Trading LLC | $2.86M | 3.81% | 2026-06-30 |
| 10 | UBS Group AG Custodian | $2.24M | 2.98% | 2026-06-30 |
| 11 | Caption Management, LLC | $1.96M | 2.61% | 2026-06-30 |
| 12 | Simplex Trading, LLC Custodian | $606.51K | 0.81% | 2026-09-30 |
| 13 | GROUP ONE TRADING LLC Custodian | $342.25K | 0.46% | 2026-06-30 |
CPA Insider Trading (Form 4)
Latest: 2026-11-12Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
| Filed | Reporter | Role | Action | Shares | Avg Price | Net $ | Link |
|---|---|---|---|---|---|---|---|
| 2026-11-12 | Silva Julio Toro | Chief Information Officer | Mixed Sell −4,000 · Grant +4,665 |
+665 | $144.47 | $48.2K | EDGAR |
| 2026-11-09 | Daniel Paul Gunn | Chief Operations Officer | Award (A) | +1,435 | $139.34 | $200.0K | EDGAR |
| 2026-11-09 | Karen Arlene Barahona | VP of Human Resources | Award (A) | +2,871 | $139.34 | $400.0K | EDGAR |
| 2026-11-09 | Peter Alexander Donkersloot | Chief Financial Officer | Award (A) | +5,383 | $139.34 | $750.1K | EDGAR |
| 2026-11-06 | Juan Alberto Mr Alvarado | Chief Accounting Officer | Mixed Sell −174 · Grant +144 |
−30 | $143.39 | -$5.5K | EDGAR |
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.
CPA Insider Holdings
5 insiders · @ $141.27
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
| # | Insider | Role | Shares | Disclosed Exposure | Lifetime OM Net | Filings | Last Filed |
|---|---|---|---|---|---|---|---|
| 1 | Daniel Paul Gunn | Chief Operations Officer | 26,155 | $3.69M | $0 | 1 | 2026-11-09 |
| 2 | Silva Julio Toro | Chief Information Officer | 16,405 | $2.32M | -$601.8K | 1 | 2026-11-12 |
| 3 | Peter Alexander Donkersloot | Chief Financial Officer | 10,284 | $1.45M | $0 | 1 | 2026-11-09 |
| 4 | Karen Arlene Barahona | VP of Human Resources | 4,106 | $580.1K | $0 | 1 | 2026-11-09 |
| 5 | Juan Alberto Mr Alvarado | Chief Accounting Officer | 419 | $59.2K | -$25.5K | 1 | 2026-11-06 |
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.
CPA Board & Officers
As of SEC filings through Nov 12, 2026Directors 10
- Carlos Alberto Motta · since Mar 17, 2026
- Carlos Mario Giraldo · since Mar 17, 2026
- Julianne Canavaggio · since Mar 17, 2026
- Stanley Alberto Motta · since Mar 17, 2026
- Alvaro Jose Heilbron · since Mar 18, 2026
- Andrew C Levy · since Mar 18, 2026
- John R Gebo · since Mar 18, 2026
- Makelin Raquel Arias · since Mar 18, 2026
- Jose Castaneda · since Apr 7, 2026
- Manuel Alberto Orillac · since May 13, 2026
Officers 7
- heilbron pedro · Chief Executive Officer · since Mar 17, 2026
- Peter Alexander Donkersloot · Chief Financial Officer · since Mar 18, 2026
- Daniel Paul Gunn · Chief Operations Officer · since Mar 17, 2026
- Juan Alberto Mr Alvarado · Chief Accounting Officer · since Mar 17, 2026
- Silva Julio Toro · Chief Information Officer · since Mar 17, 2026
- Robert Etienne Carey · Executive Vicepresident · since Mar 17, 2026
- Karen Arlene Barahona · VP of Human Resources · since Mar 17, 2026
Changes in the last 10 years (17)
| May 13, 2026 | Manuel Alberto Orillac became a director |
| Apr 7, 2026 | Jose Castaneda became a director |
| Mar 18, 2026 | Peter Alexander Donkersloot became Chief Financial Officer |
| Mar 18, 2026 | Makelin Raquel Arias became a director |
| Mar 18, 2026 | John R Gebo became a director |
| Mar 18, 2026 | Andrew C Levy became a director |
| Mar 18, 2026 | Alvaro Jose Heilbron became a director |
| Mar 17, 2026 | heilbron pedro became Chief Executive Officer |
| Mar 17, 2026 | Stanley Alberto Motta became a director |
| Mar 17, 2026 | Silva Julio Toro became Chief Information Officer |
| Mar 17, 2026 | Robert Etienne Carey became Executive Vicepresident |
| Mar 17, 2026 | Karen Arlene Barahona became VP of Human Resources |
| Mar 17, 2026 | Julianne Canavaggio became a director |
| Mar 17, 2026 | Juan Alberto Mr Alvarado became Chief Accounting Officer |
| Mar 17, 2026 | Daniel Paul Gunn became Chief Operations Officer |
| Mar 17, 2026 | Carlos Mario Giraldo became a director |
| Mar 17, 2026 | Carlos Alberto Motta became a director |
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.
CPA Proposed Insider Sales (Form 144)
Latest: 2026-06-17
? Form 144 Guide
Last 30d:
0 filings
· Last 90d:
0 filings
What is Form 144? A notice of intent to sell restricted or control stock under Rule 144. Affiliates (officers, directors, 10%+ owners) and holders of restricted shares must file Form 144 when planning to sell more than 5,000 shares or $50,000 in any 3-month rolling window.
How it relates to Form 4: Form 144 is filed before the trade (up to 90 days in advance); Form 4 is filed within 2 business days after the trade executes. Not every Form 144 results in a sale — the filer may cancel or delay. Look for the corresponding Form 4 on the Insider Activity card to confirm a sale actually happened.
10b5-1 plans: Trades made under a pre-scheduled Rule 10b5-1 plan are not discretionary — they execute automatically on dates set months earlier, regardless of news. High 10b5-1 percentages mean less per-filing signal value, though cumulative selling volume still matters.
"Notice value": Aggregate market value the filer wrote into the Form 144 — i.e. the size of the planned sale, not necessarily the executed dollars. An amended notice (Form 144/A) replaces the original it amends, and cancelled notices are dropped, so neither is double-counted above. A filed value that is clearly inconsistent with the share count at the stock's price (a filer typo) shows as a dash and is left out of the totals.
Source & freshness: Sourced from public Form 144 filings. Refreshed daily; new filings typically appear here the morning after they are filed.
| Filed | Filer | Role | Shares | Notice Value | Planned Sale | Broker | Plan | Link |
|---|---|---|---|---|---|---|---|---|
| 2026-06-17 | PETER ALEXANDER DONKERSLOOT PONCE | Officer | 8,338 | $1.20M | 2026-06-17 | Morgan Stanley Smith Barney LLC … | 10b5-1 | EDGAR |
| 2025-12-01 | PEDRO OSVALDO HEILBRON CALONGE | Officer | 17,459 | $2.13M | 2025-12-01 | Morgan Stanley Smith Barney LLC … | 10b5-1 | EDGAR |
| 2025-11-03 | PEDRO OSVALDO HEILBRON CALONGE | Officer | 30,000 | $3.76M | 2025-11-03 | Morgan Stanley Smith Barney LLC … | 10b5-1 | EDGAR |
| 2025-10-03 | PEDRO OSVALDO HEILBRON CALONGE | Officer | 10,185 | $1.22M | 2025-10-03 | Morgan Stanley Smith Barney LLC … | 10b5-1 | EDGAR |
| 2025-10-02 | PEDRO OSVALDO HEILBRON CALONGE | Officer | 19,815 | $2.33M | 2025-10-02 | Morgan Stanley Smith Barney LLC … | 10b5-1 | EDGAR |
| 2025-09-23 | PEDRO OSVALDO HEILBRON CALONGE | Officer | 21,943 | $2.63M | 2025-09-23 | Morgan Stanley Smith Barney LLC … | 10b5-1 | EDGAR |
| 2025-09-22 | PEDRO OSVALDO HEILBRON CALONGE | Officer | 8,057 | $964.8K | 2025-09-22 | Morgan Stanley Smith Barney LLC … | 10b5-1 | EDGAR |
| 2025-06-04 | PEDRO OSVALDO HEILBRON CALONGE | Officer | 2,631 | $285.9K | 2025-06-04 | Morgan Stanley Smith Barney LLC … | 10b5-1 | EDGAR |
| 2025-05-29 | PEDRO OSVALDO HEILBRON CALONGE | Officer | 73,610 | $8.06M | 2025-05-29 | Morgan Stanley Smith Barney LLC … | 10b5-1 | EDGAR |
| 2023-09-20 | JOSE ANTONIO MONTERO MORENO | Officer | 2,207 | $206.4K | 2023-09-20 | Morgan Stanley Smith Barney LLC … | 10b5-1 | EDGAR |
Notice value is the aggregate market value the filer states they intend to sell — not a confirmed transaction. Compare to Insider Activity (Form 4) to see which planned sales actually executed. Market-wide feed: Planned sales (Form 144).
ETF Holders
28 ETFs hold CPA
25 shown · $240.50M total exposure · 0.06% AUM-weighted avg weight
| # | ETF | Provider | Weight | $ Exposure | ETF AUM | As Of |
|---|---|---|---|---|---|---|
| 1 | DFAT Dimensional US Targeted Value ETF | Dimensional | 0.20% | $62.4M | — | 2026-11-11 |
| 2 | DFSV Dimensional US Small Cap Value ETF | Dimensional | 0.22% | $60.8M | — | 2026-11-11 |
| 3 | DFAS Dimensional US Small Cap ETF | Dimensional | 0.09% | $31.7M | — | 2026-11-11 |
| 4 | DFAC Dimensional US Core Equity 2 ETF | Dimensional | 0.02% | $16.5M | — | 2026-11-11 |
| 5 | CGNG Capital Group New Geography Equity ETF | Capitalgroup | 0.50% | $15.4M | $3.1B | 2026-11-11 |
| 6 | DIV Global X SuperDividend U.S. ETF | Global X | 1.99% | $15.3M | — | 2026-11-12 |
| 7 | CGIC Capital Group International Core Equity ETF | Capitalgroup | 0.31% | $8.0M | $2.6B | 2026-11-11 |
| 8 | DFMC Dimensional US Micro Cap ETF | Dimensional | 0.10% | $7.5M | — | 2026-11-11 |
| 9 | DCOR Dimensional US Core Equity 1 ETF | Dimensional | 0.01% | $3.9M | — | 2026-11-11 |
| 10 | DFUV Dimensional US Marketwide Value ETF | Dimensional | 0.02% | $3.9M | $15.7B | 2026-11-11 |
| 11 | DXUV Dimensional US Vector Equity ETF | Dimensional | 0.04% | $2.5M | — | 2026-11-11 |
| 12 | JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF | JPMorgan | 0.15% | $2.5M | $1.7B | 2026-11-12 |
| 13 | IDVZ Polen International Dividend Income ETF | Nport | 1.01% | $2.0M | — | 2026-07-31 |
| 14 | SMLF iShares U.S. Small-Cap Equity Factor ETF | iShares (BlackRock) | 0.04% | $1.6M | $4.3B | 2026-11-11 |
| 15 | DFAU Dimensional US Core Equity Market ETF | Dimensional | 0.01% | $1.5M | $13.0B | 2026-11-11 |
| 16 | JHSC John Hancock Multifactor Small Cap ETF | Nport | 0.20% | $1.4M | — | 2026-06-30 |
| 17 | DFUS Dimensional US Equity Market ETF | Dimensional | 0.01% | $1.4M | $21.6B | 2026-11-11 |
| 18 | WCME First Trust WCM Developing World Equity ETF | First Trust | 2.67% | $984,096 | $36.9M | 2026-11-11 |
| 19 | SMLV State Street® SPDR® US Small Cap Low Volatility Index ETF | SPDR (State Street) | 0.26% | $691,668 | $263.4M | 2026-11-11 |
| 20 | RFLR Innovator U.S. Small Cap Managed Floor ETF | Innovator | 0.14% | $137,250 | $95.3M | 2026-11-12 |
| 21 | FTKI First Trust Small Cap BuyWrite Income ETF | First Trust | 0.45% | $116,048 | $25.7M | 2026-11-11 |
| 22 | JADE JPMorgan Active Developing Markets Equity ETF | JPMorgan | 0.39% | $112,257 | $28.6M | 2026-11-12 |
| 23 | OOTO Direxion Daily Travel & Vacation Bull 2X Shares | Direxion | 0.76% | $43,679 | — | 2025-07-24 |
| 24 | FFGX Fidelity Fundamental Global ex-U.S. ETF | Fidelity | 0.06% | $31,731 | $51.9M | 2026-11-11 |
| 25 | KBFR Innovator U.S. Small Cap Managed 10 Buffer ETF | Innovator | 0.17% | $22,137 | $13.4M | 2026-11-12 |
Fundamentals
Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.
Metrics
- Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
- Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
- Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
- Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
- Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
- YoY growth — compare to the same quarter a year earlier to remove seasonality.
- Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
- Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.
TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.
Trailing P/E
—
TTM Diluted EPS
—
TTM Revenue
—
TTM Net Income
—
TTM Op. Cash Flow
—
Quarterly figures (12 quarters)
| Quarter | Period End | Revenue | Net Income | Diluted EPS | Op. Cash Flow |
|---|---|---|---|---|---|
| Q4 '25 | 2025-12-31 | — | — | — | — |
| Q4 '24 | 2024-12-31 | — | — | — | — |
| Q4 '23 | 2023-12-31 | — | — | — | — |
| Q4 '22 | 2022-12-31 | — | — | — | — |
| Q4 '21 | 2021-12-31 | — | — | — | — |
| Q4 '20 | 2020-12-31 | — | — | — | — |
| Q4 '19 | 2019-12-31 | — | — | — | — |
| Q4 '18 | 2018-12-31 | — | — | — | — |
| Q4 '17 | 2017-12-31 | — | — | — | — |
| Q4 '16 | 2016-12-31 | — | — | — | — |
| Q1 '16 | 2016-03-31 | $557.07M | $115.46M | $2.74 | — |
| Q4 '15 | 2015-12-31 | $1.70B | $-231.19M | $-5.27 | — |
Q4 2025 • period ending 2025-12-31 • filed 2026-02-26
CPA vs Peers
Related companies, largest first| Company | Market cap | P/E | Revenue growth | YTD | IV rank |
|---|---|---|---|---|---|
| GE GE Aerospace | $343.3B | 38.2 | +19.6% | +3.2% | 44 |
| RTX RTX Corporation | $267.7B | 32.2 | +11.6% | +5.9% | 29 |
| UPS United Parcel Service, Inc. Class B | $94.0B | 21.6 | +2.1% | +11.1% | 2 |
| RCL Royal Caribbean Group | $86.1B | 19.2 | +9.7% | +14.6% | 11 |
| DAL Delta Air Lines, Inc. | $56.9B | 17.4 | +14.1% | +25.7% | 46 |
| UAL United Airlines Holdings, Inc. Common St | $36.1B | 10.2 | +12.3% | −1.8% | 48 |
| RYAAY Ryanair Holdings plc American Depositary | $30.0B | — | — | −20.1% | 37 |
| CPA Copa Holdings, S.A. | $5.8B | — | — | +16.0% | 67 |
| TEN Tsakos Energy Navigation Ltd. | $1.4B | — | — | +116.2% | 77 |
| Peer median | $71.5B | 20.4 | +11.9% | +8.5% | 41 |
P/E uses the latest reported trailing-12-month diluted EPS; "—" means no positive earnings or no data.
Short Interest & Float
Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.
Metric definitions
- Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
- SI % of Float — short interest / free float. The key crowding metric.
- Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
- Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
- Free Float — shares available for public trading (total shares minus insider / restricted).
- Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
- SI % of Float < 5% — typical, no particular signal.
- 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
- 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
- >30% — extreme; borrow is likely expensive and squeeze risk is material.
- Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
- Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
- A sudden drop in SI after a rally may indicate a squeeze in progress.
Short interest is reported mid-month and end-of-month; short volume is daily.
Short Interest
1.62M
SI % of Float
5.40%
Days to Cover
5.15
Short Vol Ratio
33.0%
Free Float
30.05M
Float %
99.5%
Short interest 2026-10-15 • Short volume 2026-11-12 • Float 2026-05-13