Institute for Wealth Management LLC. Buys Shares of 19,347 Southwest Airlines Company (LUV)
Institute for Wealth Management LLC. bought a new position in Southwest Airlines Company (NYSE:LUV) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,347 shares of the airline’s stock, valued at approximately $1,200,000.
Several other hedge funds also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Southwest Airlines by 2.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 466,121 shares of the airline’s stock valued at $28,965,000 after buying an additional 10,851 shares during the period. Columbus Circle Investors increased its stake in shares of Southwest Airlines by 28.2% in the second quarter. Columbus Circle Investors now owns 220,903 shares of the airline’s stock valued at $13,727,000 after buying an additional 48,632 shares during the period. MARSHALL WACE ASIA Ltd acquired a new position in shares of Southwest Airlines in the first quarter valued at approximately $22,797,000. Marshall Wace North America L.P. increased its stake in shares of Southwest Airlines by 912.7% in the second quarter. Marshall Wace North America L.P. now owns 49,855 shares of the airline’s stock valued at $3,091,000 after buying an additional 44,932 shares during the period. Finally, Neuberger Berman Group LLC increased its stake in shares of Southwest Airlines by 5.5% in the second quarter. Neuberger Berman Group LLC now owns 100,019 shares of the airline’s stock valued at $6,215,000 after buying an additional 5,188 shares during the period. 79.42% of the stock is owned by hedge funds and other institutional investors.
In other Southwest Airlines news, Director William H. Dr Cunningham bought 4,500 shares of Southwest Airlines stock in a transaction dated Friday, August 11th. The shares were purchased at an average cost of $54.00 per share, with a total value of $243,000.00. Following the completion of the purchase, the director now owns 66,969 shares of the company’s stock, valued at $3,616,326. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.21% of the stock is currently owned by insiders.
Several research analysts have recently issued reports on LUV shares. ValuEngine raised Southwest Airlines from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Argus raised Southwest Airlines from a “hold” rating to a “buy” rating and upped their price objective for the company from $61.76 to $68.00 in a research note on Thursday, June 22nd. BidaskClub raised Southwest Airlines from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research raised Southwest Airlines from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Tuesday, June 6th. Finally, Vetr raised Southwest Airlines from a “hold” rating to a “buy” rating and set a $63.80 price objective for the company in a research note on Monday, June 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the stock. Southwest Airlines presently has an average rating of “Buy” and a consensus target price of $66.95.
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Shares of Southwest Airlines Company (NYSE:LUV) traded down 0.34% during mid-day trading on Friday, hitting $55.98. 3,751,346 shares of the stock traded hands. Southwest Airlines Company has a 52 week low of $36.61 and a 52 week high of $64.39. The stock has a market cap of $33.51 billion, a price-to-earnings ratio of 17.17 and a beta of 1.29. The firm’s 50-day moving average is $53.62 and its 200-day moving average is $56.82.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, July 27th. The airline reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.04. Southwest Airlines had a return on equity of 26.07% and a net margin of 9.63%. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter in the previous year, the company posted $1.19 earnings per share. The business’s revenue was up 6.7% on a year-over-year basis. On average, analysts forecast that Southwest Airlines Company will post $3.66 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $0.50 annualized dividend and a dividend yield of 0.89%. Southwest Airlines’s dividend payout ratio (DPR) is presently 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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