Panagora Asset Management Inc. raised its holdings in shares of Southwest Airlines Co. (NYSE:LUV) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 944,193 shares of the airline’s stock after purchasing an additional 18,306 shares during the period. Panagora Asset Management Inc.’s holdings in Southwest Airlines were worth $57,652,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in LUV. Bay Harbor Wealth Management LLC raised its position in shares of Southwest Airlines by 2,108.0% in the 4th quarter. Bay Harbor Wealth Management LLC now owns 552 shares of the airline’s stock valued at $26,000 after acquiring an additional 527 shares during the period. Lindbrook Capital LLC raised its position in shares of Southwest Airlines by 2,010.0% in the 1st quarter. Lindbrook Capital LLC now owns 422 shares of the airline’s stock valued at $26,000 after acquiring an additional 402 shares during the period. Phoenix Wealth Advisors acquired a new stake in shares of Southwest Airlines in the 4th quarter valued at approximately $28,000. Burleson & Company LLC acquired a new stake in shares of Southwest Airlines in the 1st quarter valued at approximately $30,000. Finally, SOA Wealth Advisors LLC. acquired a new stake in Southwest Airlines during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 78.17% of the company’s stock.
Several equities research analysts recently commented on LUV shares. MKM Partners started coverage on shares of Southwest Airlines in a research report on Thursday. They issued a “buy” rating and a $74.00 price objective on the stock. Morgan Stanley upped their target price on shares of Southwest Airlines from $59.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 6th. Zacks Investment Research raised shares of Southwest Airlines from a “sell” rating to a “hold” rating and set a $65.00 target price for the company in a research note on Wednesday, March 31st. JPMorgan Chase & Co. raised shares of Southwest Airlines from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $44.00 to $66.00 in a research note on Wednesday, April 14th. Finally, The Goldman Sachs Group boosted their price target on shares of Southwest Airlines from $47.00 to $69.00 and gave the stock a “buy” rating in a research report on Tuesday, March 16th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Southwest Airlines has a consensus rating of “Buy” and a consensus price target of $60.38.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings results on Wednesday, April 21st. The airline reported ($1.72) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.85) by $0.13. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.02 billion. Southwest Airlines had a negative net margin of 41.71% and a negative return on equity of 46.10%. The firm’s revenue for the quarter was down 51.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.15) EPS. Equities analysts anticipate that Southwest Airlines Co. will post -1.32 earnings per share for the current fiscal year.
In other Southwest Airlines news, Director John T. Montford sold 500 shares of the company’s stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $61.85, for a total value of $30,925.00. Following the sale, the director now owns 22,332 shares in the company, valued at approximately $1,381,234.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is owned by corporate insiders.
Southwest Airlines Profile
Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2020, the company operated a total fleet of 718 Boeing 737 aircrafts; and served 107 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.
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