Lake Street Financial LLC Makes New Investment in Southwest Airlines Co. (NYSE:LUV)

Lake Street Financial LLC bought a new position in shares of Southwest Airlines Co. (NYSE:LUVGet Rating) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,919 shares of the airline’s stock, valued at approximately $775,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Archer Investment Corp purchased a new position in shares of Southwest Airlines during the fourth quarter worth $25,000. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Southwest Airlines during the fourth quarter worth $26,000. Atticus Wealth Management LLC boosted its position in shares of Southwest Airlines by 78.9% during the first quarter. Atticus Wealth Management LLC now owns 567 shares of the airline’s stock worth $26,000 after buying an additional 250 shares during the period. Cornerstone Advisory LLC purchased a new position in shares of Southwest Airlines during the fourth quarter worth $27,000. Finally, Manchester Capital Management LLC purchased a new position in shares of Southwest Airlines during the fourth quarter worth $30,000. Institutional investors and hedge funds own 76.74% of the company’s stock.

Insider Activity at Southwest Airlines

In related news, Director John T. Montford sold 2,300 shares of the business’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $45.70, for a total value of $105,110.00. Following the transaction, the director now owns 23,296 shares in the company, valued at approximately $1,064,627.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on LUV shares. Morgan Stanley lowered their price target on Southwest Airlines from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. lifted their target price on Southwest Airlines from $62.00 to $72.00 in a report on Friday, April 29th. Citigroup lifted their target price on Southwest Airlines from $48.00 to $53.00 in a report on Monday, May 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $60.00 target price on shares of Southwest Airlines in a report on Friday, April 29th. Finally, Barclays decreased their target price on Southwest Airlines from $58.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.06.

Southwest Airlines Stock Up 0.1 %

LUV opened at $38.81 on Friday. The business’s 50-day simple moving average is $39.08 and its 200-day simple moving average is $42.49. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.59 and a current ratio of 1.66. Southwest Airlines Co. has a one year low of $34.36 and a one year high of $56.33. The stock has a market capitalization of $23.03 billion, a P/E ratio of 24.72, a price-to-earnings-growth ratio of 2.66 and a beta of 1.00.

Southwest Airlines (NYSE:LUVGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The airline reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.39. The firm had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.69 billion. Southwest Airlines had a return on equity of 5.54% and a net margin of 4.71%. The firm’s revenue for the quarter was up 67.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.35) EPS. Analysts anticipate that Southwest Airlines Co. will post 2.43 EPS for the current year.

Southwest Airlines Profile

(Get Rating)

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, 2021, the company operated a total fleet of 728 Boeing 737 aircrafts; and served 121 destinations in 42 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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Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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