Parallel Advisors LLC lessened its position in shares of Southwest Airlines Co (NYSE:LUV) by 9.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,203 shares of the airline’s stock after selling 1,612 shares during the quarter. Parallel Advisors LLC’s holdings in Southwest Airlines were worth $875,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the stock. DNB Asset Management AS increased its stake in shares of Southwest Airlines by 8.9% during the 2nd quarter. DNB Asset Management AS now owns 22,060 shares of the airline’s stock valued at $1,120,000 after acquiring an additional 1,794 shares during the last quarter. WINTON GROUP Ltd increased its position in Southwest Airlines by 40.2% during the 2nd quarter. WINTON GROUP Ltd now owns 231,742 shares of the airline’s stock worth $11,768,000 after purchasing an additional 66,439 shares in the last quarter. Carroll Financial Associates Inc. increased its position in Southwest Airlines by 26.3% during the 2nd quarter. Carroll Financial Associates Inc. now owns 1,534 shares of the airline’s stock worth $77,000 after purchasing an additional 319 shares in the last quarter. Norman Fields Gottscho Capital Management LLC increased its position in Southwest Airlines by 1.7% during the 2nd quarter. Norman Fields Gottscho Capital Management LLC now owns 95,290 shares of the airline’s stock worth $4,839,000 after purchasing an additional 1,575 shares in the last quarter. Finally, TrimTabs Asset Management LLC acquired a new stake in Southwest Airlines during the 2nd quarter worth approximately $1,158,000. 81.78% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently issued reports on LUV shares. Berenberg Bank started coverage on shares of Southwest Airlines in a research report on Friday, September 6th. They set a “hold” rating and a $57.00 target price for the company. Sanford C. Bernstein downgraded shares of Southwest Airlines from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $58.00 to $61.00 in a research report on Thursday, October 31st. Stifel Nicolaus downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating and dropped their target price for the stock from $75.00 to $60.00 in a research report on Monday, October 21st. Argus downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Finally, Wolfe Research set a $62.00 target price on shares of Southwest Airlines and gave the stock a “buy” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $58.95.
NYSE:LUV traded down $0.13 during trading hours on Friday, hitting $58.11. The stock had a trading volume of 805,688 shares, compared to its average volume of 4,212,225. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 0.36. Southwest Airlines Co has a 1-year low of $44.28 and a 1-year high of $58.77. The business has a 50 day simple moving average of $54.73 and a two-hundred day simple moving average of $52.51. The company has a market cap of $31.31 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 1.50 and a beta of 1.48.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, October 24th. The airline reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.15. Southwest Airlines had a net margin of 10.90% and a return on equity of 24.71%. The company had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter last year, the company earned $1.08 earnings per share. Southwest Airlines’s revenue for the quarter was up 1.1% on a year-over-year basis. Research analysts expect that Southwest Airlines Co will post 4.38 EPS for the current fiscal year.
About Southwest Airlines
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, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 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.
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