Southwest Airlines Company (LUV) Sees Significant Increase in Short Interest
Southwest Airlines Company (NYSE:LUV) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 11,354,260 shares, an increase of 58.6% from the August 15th total of 7,161,155 shares. Based on an average daily volume of 6,527,904 shares, the short-interest ratio is presently 1.7 days. Currently, 1.9% of the shares of the stock are sold short.
Southwest Airlines (NYSE:LUV) opened at 54.72 on Monday. Southwest Airlines has a 52-week low of $36.31 and a 52-week high of $64.39. The stock has a market capitalization of $32.75 billion, a PE ratio of 16.78 and a beta of 1.29. The firm’s 50-day moving average is $53.74 and its 200 day moving average is $56.91.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, July 27th. The airline reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the firm earned $1.19 earnings per share. On average, equities analysts forecast that Southwest Airlines will post $3.73 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th were issued a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $0.50 annualized dividend and a yield of 0.91%. Southwest Airlines’s dividend payout ratio (DPR) is presently 15.34%.
In other news, Director William H. Dr Cunningham bought 4,500 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average price of $54.00 per share, with a total value of $243,000.00. Following the completion of the acquisition, the director now directly owns 66,969 shares in the company, valued at $3,616,326. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. USA Financial Portformulas Corp raised its holdings in Southwest Airlines by 169.7% in the second quarter. USA Financial Portformulas Corp now owns 69,570 shares of the airline’s stock worth $4,323,000 after purchasing an additional 43,775 shares during the period. Sentry Investment Management LLC raised its holdings in Southwest Airlines by 1.1% in the second quarter. Sentry Investment Management LLC now owns 49,266 shares of the airline’s stock worth $3,061,000 after purchasing an additional 512 shares during the period. WFG Advisors LP raised its holdings in Southwest Airlines by 25.8% in the second quarter. WFG Advisors LP now owns 4,931 shares of the airline’s stock worth $306,000 after purchasing an additional 1,010 shares during the period. Toronto Dominion Bank raised its holdings in Southwest Airlines by 23.8% in the second quarter. Toronto Dominion Bank now owns 199,566 shares of the airline’s stock worth $12,398,000 after purchasing an additional 38,315 shares during the period. Finally, Cookson Peirce & Co. Inc. acquired a new stake in Southwest Airlines in the second quarter worth $20,622,000. Institutional investors own 79.42% of the company’s stock.
Several equities research analysts recently commented on the company. Zacks Investment Research cut Southwest Airlines from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Morgan Stanley reissued an “overweight” rating on shares of Southwest Airlines in a report on Tuesday, September 12th. Barclays PLC reissued a “hold” rating and set a $61.00 target price on shares of Southwest Airlines in a report on Thursday. J P Morgan Chase & Co raised Southwest Airlines from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $60.00 to $66.00 in a report on Friday. Finally, Wolfe Research raised Southwest Airlines from a “market perform” rating to an “outperform” rating in a report on Friday, August 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $67.77.
ILLEGAL ACTIVITY WARNING: “Southwest Airlines Company (LUV) Sees Significant Increase in Short Interest” was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another website, it was stolen and republished in violation of United States & international copyright & trademark legislation. The correct version of this story can be accessed at https://www.thecerbatgem.com/2017/09/18/southwest-airlines-company-luv-sees-significant-increase-in-short-interest.html.
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.
Receive News & Stock Ratings for Southwest Airlines Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines Company and related stocks with our FREE daily email newsletter.