Nicholas Investment Partners LP Raises Stake in Southwest Airlines Company (LUV)
Nicholas Investment Partners LP lifted its holdings in shares of Southwest Airlines Company (NYSE:LUV) by 4.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 92,551 shares of the airline’s stock after purchasing an additional 3,899 shares during the quarter. Nicholas Investment Partners LP’s holdings in Southwest Airlines were worth $5,752,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of LUV. American Century Companies Inc. lifted its position in shares of Southwest Airlines by 0.3% during the first quarter. American Century Companies Inc. now owns 84,955 shares of the airline’s stock worth $4,567,000 after purchasing an additional 290 shares in the last quarter. World Asset Management Inc lifted its position in shares of Southwest Airlines by 20.0% during the first quarter. World Asset Management Inc now owns 67,301 shares of the airline’s stock worth $3,618,000 after purchasing an additional 11,201 shares in the last quarter. Affinity Investment Advisors LLC acquired a new stake in shares of Southwest Airlines during the first quarter worth about $292,000. Intrust Bank NA lifted its position in shares of Southwest Airlines by 10.2% during the first quarter. Intrust Bank NA now owns 5,493 shares of the airline’s stock worth $296,000 after purchasing an additional 508 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new stake in shares of Southwest Airlines during the first quarter worth about $13,992,000. 79.42% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director William H. Dr Cunningham purchased 4,500 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average cost of $54.00 per share, with a total value of $243,000.00. Following the transaction, the director now owns 66,969 shares in the company, valued at approximately $3,616,326. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.21% of the company’s stock.
Several brokerages have recently issued reports on LUV. Zacks Investment Research cut shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Morgan Stanley reissued an “overweight” rating on shares of Southwest Airlines in a research report on Tuesday, September 12th. Barclays PLC reaffirmed a “hold” rating and issued a $61.00 target price on shares of Southwest Airlines in a report on Thursday. J P Morgan Chase & Co raised shares of Southwest Airlines from a “neutral” rating to an “overweight” rating and raised their target price for the company from $60.00 to $66.00 in a report on Friday. Finally, Wolfe Research raised shares of Southwest Airlines from a “market perform” rating to an “outperform” rating in a report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Southwest Airlines currently has a consensus rating of “Buy” and an average price target of $67.77.
Shares of Southwest Airlines Company (NYSE LUV) traded down 1.19% during trading on Monday, hitting $54.07. 1,613,594 shares of the stock were exchanged. The stock’s 50 day moving average price is $53.74 and its 200 day moving average price is $56.91. Southwest Airlines Company has a one year low of $36.31 and a one year high of $64.39. The stock has a market cap of $32.36 billion, a PE ratio of 16.58 and a beta of 1.29.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings results on Thursday, July 27th. The airline reported $1.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.04. The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.73 billion. Southwest Airlines had a return on equity of 26.07% and a net margin of 9.63%. The business’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.19 EPS. Equities research analysts predict that Southwest Airlines Company will post $3.73 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Thursday, August 24th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Tuesday, August 22nd. Southwest Airlines’s dividend payout ratio is currently 15.34%.
Southwest Airlines Company Profile
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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