Rafferty Asset Management LLC Increases Position in Southwest Airlines Co. (NYSE:LUV)

Rafferty Asset Management LLC raised its holdings in shares of Southwest Airlines Co. (NYSE:LUV) by 167.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,969 shares of the airline’s stock after buying an additional 41,313 shares during the period. Rafferty Asset Management LLC’s holdings in Southwest Airlines were worth $3,502,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Burleson & Company LLC purchased a new position in shares of Southwest Airlines during the first quarter valued at approximately $30,000. First Manhattan Co. boosted its position in shares of Southwest Airlines by 1,900.0% during the first quarter. First Manhattan Co. now owns 500 shares of the airline’s stock valued at $30,000 after buying an additional 475 shares during the period. Ten Capital Wealth Advisors LLC boosted its position in shares of Southwest Airlines by 407.0% during the first quarter. Ten Capital Wealth Advisors LLC now owns 507 shares of the airline’s stock valued at $30,000 after buying an additional 407 shares during the period. Avion Wealth boosted its position in shares of Southwest Airlines by 121.4% during the second quarter. Avion Wealth now owns 507 shares of the airline’s stock valued at $27,000 after buying an additional 278 shares during the period. Finally, Harvest Fund Management Co. Ltd boosted its position in shares of Southwest Airlines by 71.5% during the first quarter. Harvest Fund Management Co. Ltd now owns 645 shares of the airline’s stock valued at $39,000 after buying an additional 269 shares during the period. Institutional investors and hedge funds own 77.30% of the company’s stock.

NYSE LUV opened at $48.03 on Wednesday. The firm’s fifty day simple moving average is $50.21 and its two-hundred day simple moving average is $56.29. The company has a current ratio of 1.54, a quick ratio of 1.50 and a debt-to-equity ratio of 0.95. Southwest Airlines Co. has a 12-month low of $35.82 and a 12-month high of $64.75. The firm has a market capitalization of $28.42 billion, a P/E ratio of -17.53 and a beta of 1.24.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Wednesday, July 21st. The airline reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.12). Southwest Airlines had a negative return on equity of 33.72% and a negative net margin of 16.23%. The firm had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the prior year, the firm posted ($2.67) earnings per share. Southwest Airlines’s revenue for the quarter was up 297.6% compared to the same quarter last year. As a group, sell-side analysts predict that Southwest Airlines Co. will post -1.55 earnings per share for the current fiscal year.

Several brokerages have issued reports on LUV. Evercore ISI dropped their target price on Southwest Airlines from $70.00 to $62.00 and set an “outperform” rating for the company in a research report on Friday, September 10th. Citigroup started coverage on shares of Southwest Airlines in a research note on Wednesday, August 11th. They set a “buy” rating for the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $51.24 price target (down previously from $75.00) on shares of Southwest Airlines in a research note on Monday, July 26th. Morgan Stanley decreased their price target on shares of Southwest Airlines from $80.00 to $76.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $51.30 price target on shares of Southwest Airlines in a research note on Tuesday, July 27th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $59.68.

Southwest Airlines Profile

Southwest Airlines Co engages in the management of a passenger airline. It offers ancillary services such as earlybird check-in, upgraded boarding, and transportation of pets and unaccompanied minors. The firm operates in U.S. states, District of Columbia, the Commonwealth of Puerto Rico, Mexico, Jamaica, The Bahamas, Aruba, 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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