Barings LLC raised its stake in Southwest Airlines Co (NYSE:LUV) by 64.2% in the 3rd quarter, Holdings Channel reports. The firm owned 19,949 shares of the airline’s stock after acquiring an additional 7,800 shares during the period. Barings LLC’s holdings in Southwest Airlines were worth $1,246,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in LUV. Flagship Harbor Advisors LLC bought a new stake in Southwest Airlines in the second quarter valued at approximately $101,000. Clarus Wealth Advisors bought a new stake in Southwest Airlines in the second quarter valued at approximately $107,000. Point72 Hong Kong Ltd bought a new stake in Southwest Airlines in the second quarter valued at approximately $108,000. CWM LLC bought a new position in shares of Southwest Airlines during the second quarter valued at approximately $109,000. Finally, TRUE Private Wealth Advisors bought a new position in shares of Southwest Airlines during the third quarter valued at approximately $111,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.
LUV opened at $50.95 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $28.16 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 1.07 and a beta of 1.06. Southwest Airlines Co has a 12-month low of $47.10 and a 12-month high of $66.99.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, October 25th. The airline reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.56 billion. Southwest Airlines had a return on equity of 22.27% and a net margin of 17.18%. During the same quarter in the prior year, the company earned $0.88 earnings per share. On average, equities analysts predict that Southwest Airlines Co will post 4.11 earnings per share for the current year.
A number of equities analysts recently commented on LUV shares. Imperial Capital upped their target price on Southwest Airlines from $54.00 to $60.00 and gave the company an “inline” rating in a report on Wednesday, August 22nd. Buckingham Research decreased their target price on Southwest Airlines from $73.00 to $65.00 and set a “buy” rating for the company in a report on Friday, October 26th. Zacks Investment Research downgraded Southwest Airlines from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Morgan Stanley set a $68.00 target price on Southwest Airlines and gave the company a “buy” rating in a report on Friday, October 5th. Finally, Macquarie set a $67.00 target price on Southwest Airlines and gave the company a “buy” rating in a report on Monday, October 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $66.78.
In other Southwest Airlines news, Director John T. Montford sold 430 shares of the stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $58.27, for a total value of $25,056.10. Following the completion of the transaction, the director now owns 23,853 shares in the company, valued at $1,389,914.31. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Andrew M. Watterson sold 6,130 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $59.28, for a total value of $363,386.40. Following the completion of the transaction, the executive vice president now owns 16,597 shares of the company’s stock, valued at approximately $983,870.16. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.
Southwest Airlines Company Profile
Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.
Read More: Dow Jones Industrial Average (DJIA)
Want to see what other hedge funds are holding LUV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southwest Airlines Co (NYSE:LUV).
Receive News & Ratings for Southwest Airlines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines and related companies with MarketBeat.com's FREE daily email newsletter.