1ST Source Bank cut its position in shares of Southwest Airlines Co. (NYSE:LUV) by 7.8% during the second quarter, Holdings Channel reports. The fund owned 5,950 shares of the airline’s stock after selling 500 shares during the period. 1ST Source Bank’s holdings in Southwest Airlines were worth $233,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Strs Ohio raised its position in shares of Southwest Airlines by 393.0% in the second quarter. Strs Ohio now owns 776,030 shares of the airline’s stock worth $30,428,000 after buying an additional 618,608 shares during the last quarter. Calamos Advisors LLC raised its position in Southwest Airlines by 15.9% in the second quarter. Calamos Advisors LLC now owns 1,242,786 shares of the airline’s stock valued at $48,730,000 after buying an additional 170,752 shares in the last quarter. First Republic Investment Management Inc. raised its position in Southwest Airlines by 97.8% in the first quarter. First Republic Investment Management Inc. now owns 1,151,824 shares of the airline’s stock valued at $51,602,000 after buying an additional 569,576 shares in the last quarter. Capital Fund Management S.A. raised its position in Southwest Airlines by 472.4% in the second quarter. Capital Fund Management S.A. now owns 1,718,192 shares of the airline’s stock valued at $67,370,000 after buying an additional 1,418,012 shares in the last quarter. Finally, Anchor Bolt Capital LP raised its position in Southwest Airlines by 2.5% in the first quarter. Anchor Bolt Capital LP now owns 4,100,671 shares of the airline’s stock valued at $183,710,000 after buying an additional 99,921 shares in the last quarter. Institutional investors own 78.37% of the company’s stock.
Shares of Southwest Airlines Co. (NYSE:LUV) traded up 1.45% during trading on Tuesday, hitting $41.84. The stock had a trading volume of 3,851,023 shares. The stock’s 50-day moving average price is $38.16 and its 200-day moving average price is $40.37. Southwest Airlines Co. has a one year low of $33.96 and a one year high of $51.34. The company has a market cap of $25.95 billion, a P/E ratio of 11.10 and a beta of 0.79.
Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, July 21st. The airline reported $1.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by $0.02. Southwest Airlines had a return on equity of 34.25% and a net margin of 11.95%. The business had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.41 billion. During the same quarter last year, the company posted $1.03 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts forecast that Southwest Airlines Co. will post $3.78 EPS for the current fiscal year.
Several research analysts have recently commented on LUV shares. Evercore ISI upgraded Southwest Airlines from a “hold” rating to a “buy” rating and reduced their price target for the stock from $47.00 to $37.36 in a report on Tuesday, July 26th. Cowen and Company reiterated a “buy” rating on shares of Southwest Airlines in a report on Sunday, June 26th. Deutsche Bank AG reiterated a “buy” rating and set a $57.00 price target on shares of Southwest Airlines in a report on Saturday, June 25th. Vetr upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Tuesday, August 2nd. Finally, Credit Suisse Group AG set a $48.00 price target on Southwest Airlines and gave the stock a “buy” rating in a report on Monday, September 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $48.36.
In related news, SVP Mark R. Shaw sold 1,776 shares of the stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $37.62, for a total transaction of $66,813.12. Following the transaction, the senior vice president now directly owns 5,226 shares in the company, valued at $196,602.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO De Ven Michael G. Van bought 4,200 shares of Southwest Airlines stock in a transaction that occurred on Wednesday, August 3rd. The shares were acquired at an average price of $35.77 per share, for a total transaction of $150,234.00. Following the completion of the transaction, the chief operating officer now directly owns 183,245 shares of the company’s stock, valued at approximately $6,554,673.65. The disclosure for this purchase can be found here. Corporate insiders own 0.18% of the company’s stock.
About Southwest Airlines
Southwest Airlines Co (Southwest) operates Southwest Airlines. Southwest is a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company serves approximately 100 destinations in over 40 states, such as the District of Columbia, the Commonwealth of Puerto Rico, and approximately seven near-international countries, including Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, and Belize.
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