King Luther Capital Management Corp Buys 935 Shares of Southwest Airlines Co. (NYSE:LUV)

King Luther Capital Management Corp increased its stake in shares of Southwest Airlines Co. (NYSE:LUVGet Rating) by 9.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,998 shares of the airline’s stock after buying an additional 935 shares during the period. King Luther Capital Management Corp’s holdings in Southwest Airlines were worth $397,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of LUV. Mutual of America Capital Management LLC raised its stake in Southwest Airlines by 1.2% in the 1st quarter. Mutual of America Capital Management LLC now owns 79,276 shares of the airline’s stock worth $3,631,000 after purchasing an additional 962 shares in the last quarter. National Asset Management Inc. raised its stake in Southwest Airlines by 24.6% in the 1st quarter. National Asset Management Inc. now owns 13,719 shares of the airline’s stock worth $629,000 after purchasing an additional 2,706 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in Southwest Airlines by 3.9% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 91,094 shares of the airline’s stock worth $4,172,000 after purchasing an additional 3,416 shares in the last quarter. Metis Global Partners LLC raised its stake in Southwest Airlines by 30.7% in the 1st quarter. Metis Global Partners LLC now owns 6,748 shares of the airline’s stock worth $309,000 after purchasing an additional 1,584 shares in the last quarter. Finally, Sandy Spring Bank raised its stake in Southwest Airlines by 24.4% in the 1st quarter. Sandy Spring Bank now owns 2,412 shares of the airline’s stock worth $110,000 after purchasing an additional 473 shares in the last quarter. Institutional investors own 76.40% of the company’s stock.

Insiders Place Their Bets

In other Southwest Airlines news, Director John T. Montford sold 2,250 shares of the business’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $38.87, for a total transaction of $87,457.50. Following the sale, the director now directly owns 21,046 shares of the company’s stock, valued at approximately $818,058.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.

Southwest Airlines Trading Up 1.2 %

Shares of Southwest Airlines stock opened at $38.63 on Thursday. The firm has a market capitalization of $22.94 billion, a PE ratio of 30.18, a price-to-earnings-growth ratio of 2.78 and a beta of 1.07. The company has a current ratio of 1.58, a quick ratio of 1.50 and a debt-to-equity ratio of 0.76. The firm’s 50 day moving average is $34.75 and its 200 day moving average is $37.84. Southwest Airlines Co. has a 1 year low of $30.20 and a 1 year high of $50.10.

Southwest Airlines (NYSE:LUVGet Rating) last announced its quarterly earnings results on Thursday, October 27th. The airline reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.08. Southwest Airlines had a net margin of 3.64% and a return on equity of 9.66%. The company had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.22 billion. During the same period in the previous year, the firm posted ($0.23) EPS. The firm’s revenue was up 32.5% on a year-over-year basis. Equities research analysts forecast that Southwest Airlines Co. will post 2.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on LUV. Susquehanna Bancshares dropped their price objective on shares of Southwest Airlines from $45.00 to $40.00 in a research note on Tuesday, October 11th. Barclays dropped their target price on shares of Southwest Airlines from $50.00 to $40.00 in a research report on Wednesday, October 12th. StockNews.com upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating in a research report on Friday, October 28th. Cowen dropped their target price on shares of Southwest Airlines from $67.00 to $55.00 in a research report on Friday, July 29th. Finally, Morgan Stanley dropped their target price on shares of Southwest Airlines from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.76.

Southwest Airlines Profile

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Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2021, the company operated a total fleet of 728 Boeing 737 aircrafts; and served 121 destinations in 42 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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Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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