Fernwood Investment Management LLC Invests $449,000 in Southwest Airlines Company (LUV)
Fernwood Investment Management LLC acquired a new stake in shares of Southwest Airlines Company (NYSE:LUV) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,230 shares of the airline’s stock, valued at approximately $449,000.
Several other large investors have also recently added to or reduced their stakes in LUV. Guardian Life Insurance Co. of America increased its stake in Southwest Airlines by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 2,374 shares of the airline’s stock valued at $128,000 after buying an additional 15 shares in the last quarter. Buckingham Asset Management LLC increased its stake in Southwest Airlines by 0.3% in the first quarter. Buckingham Asset Management LLC now owns 5,690 shares of the airline’s stock valued at $306,000 after buying an additional 16 shares in the last quarter. Bank of Hawaii increased its stake in Southwest Airlines by 0.3% in the first quarter. Bank of Hawaii now owns 12,867 shares of the airline’s stock valued at $692,000 after buying an additional 35 shares in the last quarter. First Heartland Consultants Inc. increased its stake in Southwest Airlines by 0.3% in the first quarter. First Heartland Consultants Inc. now owns 16,293 shares of the airline’s stock valued at $876,000 after buying an additional 43 shares in the last quarter. Finally, Harwood Advisory Group LLC increased its stake in Southwest Airlines by 0.9% in the second quarter. Harwood Advisory Group LLC now owns 5,607 shares of the airline’s stock valued at $348,000 after buying an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 80.58% of the company’s stock.
Southwest Airlines Company (NYSE:LUV) opened at 55.31 on Thursday. The firm has a 50-day moving average price of $58.99 and a 200-day moving average price of $57.30. Southwest Airlines Company has a 52 week low of $36.05 and a 52 week high of $64.39. The company has a market cap of $33.11 billion, a P/E ratio of 16.96 and a beta of 1.26.
Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.04. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.73 billion. Southwest Airlines had a return on equity of 26.07% and a net margin of 9.63%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.19 EPS. Equities research analysts anticipate that Southwest Airlines Company will post $3.80 EPS for the current fiscal year.
Southwest Airlines announced that its Board of Directors has approved a stock buyback program on Wednesday, May 17th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the airline to reacquire up to 5.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Tuesday, August 22nd. Southwest Airlines’s payout ratio is 15.34%.
ILLEGAL ACTIVITY NOTICE: “Fernwood Investment Management LLC Invests $449,000 in Southwest Airlines Company (LUV)” was first posted by Watch List News and is the sole property of of Watch List News. If you are reading this story on another site, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be read at https://www.watchlistnews.com/fernwood-investment-management-llc-invests-449000-in-southwest-airlines-company-luv/1498911.html.
Several research firms have recently commented on LUV. Zacks Investment Research upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a report on Tuesday, June 13th. BidaskClub downgraded Southwest Airlines from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Vetr upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $63.80 price objective for the company in a report on Monday, June 5th. Argus upgraded Southwest Airlines from a “hold” rating to a “buy” rating and boosted their price objective for the company from $61.76 to $68.00 in a report on Thursday, June 22nd. Finally, Cowen and Company boosted their price objective on Southwest Airlines from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, April 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $65.78.
In related news, EVP Jeff Lamb sold 19,800 shares of Southwest Airlines stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $61.00, for a total value of $1,207,800.00. Following the completion of the sale, the executive vice president now owns 92,468 shares of the company’s stock, valued at $5,640,548. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William H. Dr Cunningham acquired 4,500 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average cost of $54.00 per share, with a total value of $243,000.00. Following the acquisition, the director now directly owns 66,969 shares of the company’s stock, valued at $3,616,326. The disclosure for this purchase can be found here. In the last three months, insiders sold 52,467 shares of company stock valued at $3,140,809. Corporate insiders own 0.21% of the company’s stock.
Southwest Airlines Company 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.
Want to see what other hedge funds are holding LUV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southwest Airlines Company (NYSE:LUV).
Receive News & Ratings for Southwest Airlines Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines Company and related companies with Analyst Ratings Network's FREE daily email newsletter.