BlueCrest Capital Management Ltd Increases Position in Southwest Airlines Company (LUV)
BlueCrest Capital Management Ltd boosted its holdings in shares of Southwest Airlines Company (NYSE:LUV) by 162.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,999 shares of the airline’s stock after acquiring an additional 85,373 shares during the period. BlueCrest Capital Management Ltd’s holdings in Southwest Airlines were worth $8,575,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Guardian Life Insurance Co. of America grew its stake in Southwest Airlines by 0.6% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,374 shares of the airline’s stock valued at $128,000 after acquiring an additional 15 shares in the last quarter. Bank of Hawaii grew its stake in Southwest Airlines by 0.3% during the 1st quarter. Bank of Hawaii now owns 12,867 shares of the airline’s stock valued at $692,000 after acquiring an additional 35 shares in the last quarter. First Heartland Consultants Inc. grew its stake in Southwest Airlines by 0.3% during the 1st quarter. First Heartland Consultants Inc. now owns 16,293 shares of the airline’s stock valued at $876,000 after acquiring an additional 43 shares in the last quarter. Harwood Advisory Group LLC grew its stake in Southwest Airlines by 0.9% during the 2nd quarter. Harwood Advisory Group LLC now owns 5,607 shares of the airline’s stock valued at $348,000 after acquiring an additional 51 shares in the last quarter. Finally, Alps Advisors Inc. grew its stake in Southwest Airlines by 0.6% during the 2nd quarter. Alps Advisors Inc. now owns 10,049 shares of the airline’s stock valued at $624,000 after acquiring an additional 62 shares in the last quarter. 79.42% of the stock is owned by institutional investors.
Shares of Southwest Airlines Company (NYSE LUV) traded up 0.26% during trading on Friday, hitting $58.44. 3,984,212 shares of the stock traded hands. The company’s 50 day moving average is $54.10 and its 200 day moving average is $56.92. The firm has a market cap of $34.98 billion, a PE ratio of 17.92 and a beta of 1.32. Southwest Airlines Company has a 52-week low of $36.91 and a 52-week high of $64.39.
Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.73 billion. During the same period in the previous year, the company posted $1.19 earnings per share. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities research analysts predict that Southwest Airlines Company will post $3.64 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.86%. Southwest Airlines’s payout ratio is currently 15.34%.
Several analysts recently issued reports on the stock. J P Morgan Chase & Co raised shares of Southwest Airlines from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $60.00 to $66.00 in a research note on Friday, September 15th. Cowen and Company reaffirmed a “buy” rating and set a $67.00 price objective on shares of Southwest Airlines in a research note on Friday, September 1st. Citigroup Inc. reaffirmed a “buy” rating and set a $64.00 price objective (down previously from $65.00) on shares of Southwest Airlines in a research note on Thursday, September 7th. Argus raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and upped their price objective for the company from $61.76 to $68.00 in a research note on Thursday, June 22nd. Finally, Zacks Investment Research raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Tuesday, July 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $66.95.
In other news, Director William H. Dr Cunningham bought 4,500 shares of Southwest Airlines stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $54.00 per share, with a total value of $243,000.00. Following the completion of the transaction, the director now owns 66,969 shares in the company, valued at approximately $3,616,326. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.21% of the company’s stock.
Southwest Airlines Profile
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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