Quantitative Investment Management LLC bought a new stake in shares of Southwest Airlines Company (NYSE:LUV) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 181,400 shares of the airline’s stock, valued at approximately $11,272,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LUV. Guardian Life Insurance Co. of America grew its position in Southwest Airlines by 0.6% in the 1st quarter. Guardian Life Insurance Co. of America now owns 2,374 shares of the airline’s stock valued at $128,000 after acquiring an additional 15 shares during the last quarter. Buckingham Asset Management LLC grew its position in Southwest Airlines by 0.3% in the 1st quarter. Buckingham Asset Management LLC now owns 5,690 shares of the airline’s stock valued at $306,000 after acquiring an additional 16 shares during the last quarter. Bank of Hawaii grew its position in Southwest Airlines by 0.3% in the 1st quarter. Bank of Hawaii now owns 12,867 shares of the airline’s stock valued at $692,000 after acquiring an additional 35 shares during the last quarter. First Heartland Consultants Inc. grew its position in Southwest Airlines by 0.3% in the 1st quarter. First Heartland Consultants Inc. now owns 16,293 shares of the airline’s stock valued at $876,000 after acquiring an additional 43 shares during the last quarter. Finally, Harwood Advisory Group LLC grew its position in Southwest Airlines by 0.9% in the 2nd quarter. Harwood Advisory Group LLC now owns 5,607 shares of the airline’s stock valued at $348,000 after acquiring an additional 51 shares during the last quarter. 79.42% of the stock is currently owned by hedge funds and other institutional investors.
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In related news, Director William H. Dr Cunningham bought 4,500 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average cost of $54.00 per share, with a total value of $243,000.00. Following the purchase, the director now directly owns 66,969 shares of the company’s stock, valued at approximately $3,616,326. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.21% of the company’s stock.
Shares of Southwest Airlines Company (NYSE:LUV) opened at 54.25 on Thursday. The stock has a market capitalization of $32.47 billion, a PE ratio of 16.64 and a beta of 1.29. Southwest Airlines Company has a 52 week low of $36.31 and a 52 week high of $64.39. The company’s 50 day moving average price is $53.62 and its 200-day moving average price is $56.82.
Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, topping 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 analysts’ expectations of $5.73 billion. During the same period in the previous year, the firm posted $1.19 EPS. Southwest Airlines’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities research analysts predict that Southwest Airlines Company will post $3.71 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Thursday, August 24th were paid a dividend of $0.125 per share. The ex-dividend date was Tuesday, August 22nd. This represents a $0.50 annualized dividend and a yield of 0.92%. Southwest Airlines’s payout ratio is 15.34%.
Several brokerages have commented on LUV. Zacks Investment Research downgraded Southwest Airlines from a “hold” rating to a “sell” rating in a research report on Wednesday. Barclays PLC reaffirmed a “hold” rating and issued a $61.00 price objective on shares of Southwest Airlines in a research report on Thursday, September 14th. Morgan Stanley reaffirmed an “overweight” rating on shares of Southwest Airlines in a research report on Tuesday, September 12th. J P Morgan Chase & Co raised Southwest Airlines from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $60.00 to $66.00 in a research report on Friday, September 15th. Finally, Wolfe Research raised Southwest Airlines from a “market perform” rating to an “outperform” rating in a research report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Southwest Airlines has a consensus rating of “Buy” and a consensus price target of $67.60.
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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