Southwest Airlines Company (LUV) Stake Lifted by Advisory Services Network LLC
Advisory Services Network LLC grew its holdings in Southwest Airlines Company (NYSE:LUV) by 1.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 13,716 shares of the airline’s stock after acquiring an additional 132 shares during the quarter. Advisory Services Network LLC’s holdings in Southwest Airlines were worth $852,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in LUV. Van ECK Associates Corp increased its holdings in shares of Southwest Airlines by 6.6% in the 1st quarter. Van ECK Associates Corp now owns 2,502 shares of the airline’s stock valued at $135,000 after acquiring an additional 154 shares during the last quarter. Knights of Columbus Asset Advisors LLC purchased a new position in shares of Southwest Airlines in the 1st quarter valued at about $1,400,000. CFO4Life Group LLC purchased a new position in shares of Southwest Airlines in the 1st quarter valued at about $477,000. Principal Financial Group Inc. increased its holdings in shares of Southwest Airlines by 52.7% in the 1st quarter. Principal Financial Group Inc. now owns 1,357,946 shares of the airline’s stock valued at $73,004,000 after acquiring an additional 468,859 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Southwest Airlines by 73.6% in the 1st quarter. Wellington Management Group LLP now owns 459,830 shares of the airline’s stock valued at $24,720,000 after acquiring an additional 194,942 shares during the last quarter. Institutional investors and hedge funds own 79.41% of the company’s stock.
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Southwest Airlines Company (NYSE:LUV) traded down 0.07% during mid-day trading on Tuesday, reaching $58.84. The company’s stock had a trading volume of 1,488,174 shares. The stock has a market capitalization of $35.22 billion, a price-to-earnings ratio of 18.04 and a beta of 1.32. The firm has a 50-day moving average of $55.01 and a 200-day moving average of $57.18. Southwest Airlines Company has a 52 week low of $36.91 and a 52 week high of $64.39.
Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.04. The company had revenue of $5.74 billion during 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 earned $1.19 earnings per share. On average, equities research analysts expect that Southwest Airlines Company will post $3.62 earnings per share for the current year.
A number of research analysts have recently commented on LUV shares. Bank of America Corporation increased their price objective on Southwest Airlines from $62.00 to $75.00 and gave the company a “buy” rating in a report on Friday, June 30th. BidaskClub downgraded Southwest Airlines from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Wolfe Research downgraded Southwest Airlines from an “outperform” rating to a “market perform” rating and set a $63.00 price objective on the stock. in a report on Monday, July 10th. They noted that the move was a valuation call. Vetr upgraded Southwest Airlines from a “buy” rating to a “strong-buy” rating and set a $64.53 price objective on the stock in a report on Thursday, July 27th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of Southwest Airlines in a report on Thursday, September 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $66.95.
In related news, Director William H. Dr Cunningham bought 4,500 shares of the stock in a transaction dated Friday, August 11th. The stock was bought at an average cost of $54.00 per share, with a total value of $243,000.00. Following the completion of the acquisition, the director now owns 66,969 shares of the company’s stock, valued at $3,616,326. The purchase 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 corporate insiders.
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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