Oak Ridge Investments LLC bought a new position in Southwest Airlines Co. (NYSE:LUV) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 10,639 shares of the airline’s stock, valued at approximately $650,000.
A number of other hedge funds also recently modified their holdings of the stock. Lindbrook Capital LLC boosted its stake in shares of Southwest Airlines by 2,010.0% during the 1st quarter. Lindbrook Capital LLC now owns 422 shares of the airline’s stock worth $26,000 after acquiring an additional 402 shares during the last quarter. Burleson & Company LLC purchased a new position in shares of Southwest Airlines during the 1st quarter worth $30,000. Bay Harbor Wealth Management LLC boosted its stake in shares of Southwest Airlines by 2,108.0% during the 4th quarter. Bay Harbor Wealth Management LLC now owns 552 shares of the airline’s stock worth $26,000 after acquiring an additional 527 shares during the last quarter. Phoenix Wealth Advisors purchased a new position in shares of Southwest Airlines during the 4th quarter worth $28,000. Finally, SOA Wealth Advisors LLC. purchased a new position in shares of Southwest Airlines during the 4th quarter worth $31,000. Institutional investors own 78.17% of the company’s stock.
In other Southwest Airlines news, Director John T. Montford sold 500 shares of Southwest Airlines stock in a transaction on Monday, March 15th. The shares were sold at an average price of $61.85, for a total value of $30,925.00. Following the completion of the transaction, the director now directly owns 22,332 shares of the company’s stock, valued at approximately $1,381,234.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.32% of the company’s stock.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Wednesday, April 21st. The airline reported ($1.72) EPS for the quarter, topping analysts’ consensus estimates of ($1.85) by $0.13. Southwest Airlines had a negative net margin of 41.71% and a negative return on equity of 46.10%. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period last year, the company posted ($0.15) EPS. The business’s revenue was down 51.5% on a year-over-year basis. On average, equities research analysts forecast that Southwest Airlines Co. will post -1.32 earnings per share for the current year.
Several research analysts have recently weighed in on LUV shares. Morgan Stanley lifted their price target 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. Jefferies Financial Group lifted their price target on shares of Southwest Airlines from $55.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, March 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Monday, February 22nd. MKM Partners started coverage on shares of Southwest Airlines in a research report on Thursday. They set a “buy” rating and a $74.00 price objective on the stock. Finally, The Goldman Sachs Group raised their price objective on shares of Southwest Airlines from $47.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, March 16th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $60.38.
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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