Investors Sell Shares of Southwest Airlines Co. (LUV) on Strength (LUV)
Traders sold shares of Southwest Airlines Co. (NYSE:LUV) on strength during trading on Monday. $24.65 million flowed into the stock on the tick-up and $66.11 million flowed out of the stock on the tick-down, for a money net flow of $41.46 million out of the stock. Of all equities tracked, Southwest Airlines had the 0th highest net out-flow for the day. Southwest Airlines traded up $0.11 for the day and closed at $36.70
A number of brokerages have recently commented on LUV. Cowen and Company reissued a “buy” rating on shares of Southwest Airlines in a report on Sunday, June 26th. Vetr raised 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. Zacks Investment Research lowered Southwest Airlines from a “hold” rating to a “sell” rating in a report on Thursday, July 14th. Imperial Capital began coverage on Southwest Airlines in a report on Friday, September 9th. They set an “outperform” rating and a $46.00 price target on the stock. Finally, Deutsche Bank AG reissued a “buy” rating and set a $57.00 price target on shares of Southwest Airlines in a report on Saturday, June 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. Southwest Airlines presently has an average rating of “Buy” and an average price target of $47.85.
The firm has a market capitalization of $22.76 billion, a PE ratio of 9.73 and a beta of 0.84. The company has a 50 day moving average price of $36.92 and a 200 day moving average price of $41.03.
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 analysts’ consensus estimates of $1.21 by $0.02. The firm had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.41 billion. Southwest Airlines had a return on equity of 34.25% and a net margin of 11.95%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 EPS. Equities research analysts predict that Southwest Airlines Co. will post $3.80 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.09%. Southwest Airlines’s payout ratio is currently 10.61%.
In other news, insider Gary C. Kelly bought 28,106 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was bought at an average price of $35.58 per share, for a total transaction of $1,000,011.48. Following the completion of the transaction, the insider now directly owns 505,119 shares in the company, valued at approximately $17,972,134.02. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO De Ven Michael G. Van bought 4,200 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were purchased at an average price of $35.77 per share, with a total value of $150,234.00. Following the transaction, the chief operating officer now owns 183,245 shares of the company’s stock, valued at $6,554,673.65. The disclosure for this purchase can be found here. Insiders own 0.18% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Rench Wealth Management Inc. increased its stake in Southwest Airlines by 0.3% in the second quarter. Rench Wealth Management Inc. now owns 5,305 shares of the airline’s stock worth $208,000 after buying an additional 14 shares during the last quarter. Shell Asset Management Co. increased its stake in Southwest Airlines by 0.4% in the second quarter. Shell Asset Management Co. now owns 7,745 shares of the airline’s stock worth $304,000 after buying an additional 32 shares during the last quarter. Trust Investment Advisors increased its stake in Southwest Airlines by 0.3% in the second quarter. Trust Investment Advisors now owns 16,575 shares of the airline’s stock worth $650,000 after buying an additional 50 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in Southwest Airlines by 0.4% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 16,469 shares of the airline’s stock worth $645,000 after buying an additional 60 shares during the last quarter. Finally, Apex Capital Management increased its stake in Southwest Airlines by 0.4% in the first quarter. Apex Capital Management now owns 15,978 shares of the airline’s stock worth $716,000 after buying an additional 65 shares in the last quarter. Institutional investors own 78.50% 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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