Private Advisor Group LLC lifted its position in shares of Southwest Airlines Co (NYSE:LUV) by 328.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,193 shares of the airline’s stock after acquiring an additional 49,975 shares during the period. Private Advisor Group LLC’s holdings in Southwest Airlines were worth $1,704,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Southwest Airlines by 16.6% in the second quarter. Vanguard Group Inc. now owns 41,931,851 shares of the airline’s stock valued at $1,433,231,000 after buying an additional 5,959,290 shares in the last quarter. Fiduciary Management Inc. WI grew its position in shares of Southwest Airlines by 69.7% in the 1st quarter. Fiduciary Management Inc. WI now owns 5,644,538 shares of the airline’s stock worth $201,002,000 after buying an additional 2,319,258 shares during the period. FIL Ltd purchased a new stake in shares of Southwest Airlines in the 2nd quarter worth about $179,589,000. Wellington Management Group LLP grew its position in shares of Southwest Airlines by 8.1% in the 1st quarter. Wellington Management Group LLP now owns 5,215,078 shares of the airline’s stock worth $185,710,000 after buying an additional 392,679 shares during the period. Finally, U S Global Investors Inc. grew its position in shares of Southwest Airlines by 225.8% in the 2nd quarter. U S Global Investors Inc. now owns 3,818,962 shares of the airline’s stock worth $130,532,000 after buying an additional 2,646,790 shares during the period. 72.73% of the stock is owned by institutional investors.
Shares of LUV opened at $40.61 on Wednesday. The company has a market cap of $23.95 billion, a PE ratio of 101.53 and a beta of 1.31. The business has a fifty day moving average of $35.70 and a 200 day moving average of $34.47. Southwest Airlines Co has a 52-week low of $22.47 and a 52-week high of $58.83. The company has a quick ratio of 1.65, a current ratio of 1.70 and a debt-to-equity ratio of 0.84.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings results on Thursday, July 23rd. The airline reported ($2.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.53) by ($0.14). Southwest Airlines had a negative return on equity of 4.11% and a net margin of 0.99%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $867.19 million. During the same quarter in the prior year, the business earned $1.37 earnings per share. The firm’s quarterly revenue was down 82.9% compared to the same quarter last year. As a group, research analysts anticipate that Southwest Airlines Co will post -6.39 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on LUV. Goldman Sachs Group upgraded shares of Southwest Airlines from a “sell” rating to a “buy” rating and upped their price target for the stock from $35.00 to $47.00 in a research note on Sunday, June 28th. Seaport Global Securities began coverage on shares of Southwest Airlines in a research note on Wednesday, June 17th. They issued a “buy” rating and a $44.00 price target on the stock. Wolfe Research cut shares of Southwest Airlines from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 13th. Raymond James dropped their price target on shares of Southwest Airlines from $45.00 to $42.00 and set a “strong-buy” rating on the stock in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. upped their price target on shares of Southwest Airlines from $34.00 to $40.00 in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $46.40.
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, 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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