Investors Sell Shares of Southwest Airlines (LUV) on Strength (LUV)
Investors sold shares of Southwest Airlines Co (NYSE:LUV) on strength during trading on Thursday. $33.41 million flowed into the stock on the tick-up and $72.63 million flowed out of the stock on the tick-down, for a money net flow of $39.22 million out of the stock. Of all stocks tracked, Southwest Airlines had the 29th highest net out-flow for the day. Southwest Airlines traded up $0.62 for the day and closed at $62.71
Several analysts recently commented on the stock. Morgan Stanley reiterated a “buy” rating on shares of Southwest Airlines in a research note on Tuesday, August 14th. Argus cut shares of Southwest Airlines from a “buy” rating to a “hold” rating and reduced their price objective for the company from $66.99 to $49.76 in a research note on Friday, June 15th. Edward Jones upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating in a research note on Tuesday, June 12th. Macquarie upgraded shares of Southwest Airlines to an “outperform” rating in a research note on Tuesday, September 18th. Finally, Cowen reduced their price objective on shares of Southwest Airlines from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Monday, June 4th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Southwest Airlines presently has an average rating of “Buy” and an average target price of $69.53.
The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.64 and a current ratio of 0.70. The company has a market cap of $35.33 billion, a P/E ratio of 18.01, a PEG ratio of 1.23 and a beta of 1.10.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 12th. Shareholders of record on Wednesday, August 22nd were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date was Tuesday, August 21st. Southwest Airlines’s payout ratio is currently 18.29%.
In other Southwest Airlines news, Director John T. Montford sold 430 shares of Southwest Airlines stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $58.27, for a total transaction of $25,056.10. Following the completion of the transaction, the director now owns 23,853 shares in the company, valued at $1,389,914.31. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Andrew M. Watterson sold 6,130 shares of Southwest Airlines stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $59.28, for a total transaction of $363,386.40. Following the transaction, the executive vice president now owns 16,597 shares of the company’s stock, valued at approximately $983,870.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,470 shares of company stock valued at $674,941. 0.23% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. AE Wealth Management LLC raised its position in Southwest Airlines by 19.0% during the second quarter. AE Wealth Management LLC now owns 5,432 shares of the airline’s stock worth $276,000 after acquiring an additional 869 shares during the last quarter. Lucia Wealth Services LLC raised its position in Southwest Airlines by 22.7% during the second quarter. Lucia Wealth Services LLC now owns 4,854 shares of the airline’s stock worth $247,000 after acquiring an additional 898 shares during the last quarter. CIBC Asset Management Inc raised its position in Southwest Airlines by 0.4% during the second quarter. CIBC Asset Management Inc now owns 228,478 shares of the airline’s stock worth $11,625,000 after acquiring an additional 956 shares during the last quarter. Telos Capital Management Inc. raised its position in shares of Southwest Airlines by 2.9% in the second quarter. Telos Capital Management Inc. now owns 34,775 shares of the airline’s stock valued at $1,769,000 after buying an additional 972 shares during the last quarter. Finally, New Jersey Better Educational Savings Trust raised its position in shares of Southwest Airlines by 10.0% in the second quarter. New Jersey Better Educational Savings Trust now owns 11,000 shares of the airline’s stock valued at $560,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 77.97% of the company’s stock.
About Southwest Airlines (NYSE:LUV)
Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 destinations in 40 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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