Stratos Wealth Partners LTD. lifted its position in shares of Southwest Airlines Co (NYSE:LUV) by 83.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,980 shares of the airline’s stock after buying an additional 15,918 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Southwest Airlines were worth $1,196,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Optimum Investment Advisors acquired a new position in shares of Southwest Airlines during the 2nd quarter worth $26,000. Atticus Wealth Management LLC raised its stake in shares of Southwest Airlines by 157.7% during the 2nd quarter. Atticus Wealth Management LLC now owns 817 shares of the airline’s stock worth $28,000 after buying an additional 500 shares during the last quarter. Bray Capital Advisors acquired a new position in shares of Southwest Airlines during the 1st quarter worth $30,000. Toth Financial Advisory Corp raised its stake in shares of Southwest Airlines by 427.5% during the 2nd quarter. Toth Financial Advisory Corp now owns 881 shares of the airline’s stock worth $30,000 after buying an additional 714 shares during the last quarter. Finally, Arkadios Wealth Advisors raised its stake in shares of Southwest Airlines by 426.3% during the 1st quarter. Arkadios Wealth Advisors now owns 900 shares of the airline’s stock worth $32,000 after buying an additional 729 shares during the last quarter. 82.71% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently issued reports on LUV. Susquehanna Bancshares raised Southwest Airlines from a “neutral” rating to a “positive” rating and set a $41.00 price target for the company in a research note on Tuesday, April 21st. Seaport Global Securities began coverage on Southwest Airlines in a research report on Wednesday, June 17th. They set a “buy” rating and a $44.00 price objective for the company. Citigroup dropped their price objective on Southwest Airlines from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, July 27th. Cowen reiterated a “buy” rating and set a $40.00 price objective on shares of Southwest Airlines in a research report on Friday, May 29th. Finally, UBS Group reiterated a “buy” rating on shares of Southwest Airlines in a research report on Thursday, June 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Southwest Airlines currently has a consensus rating of “Buy” and an average target price of $48.38.

Shares of NYSE:LUV opened at $30.89 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.65 and a current ratio of 1.70. Southwest Airlines Co has a 1 year low of $22.47 and a 1 year high of $58.83. The stock has a market capitalization of $18.22 billion, a P/E ratio of 77.23 and a beta of 1.25. The stock has a 50-day simple moving average of $33.69 and a 200-day simple moving average of $39.07.

Southwest Airlines (NYSE:LUV) last issued its earnings results on Thursday, July 23rd. The airline reported ($2.67) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($2.53) by ($0.14). Southwest Airlines had a negative return on equity of 4.11% and a net margin of 0.99%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $867.19 million. During the same quarter in the previous year, the firm posted $1.37 EPS. The firm’s revenue for the quarter was down 82.9% compared to the same quarter last year. Analysts predict that Southwest Airlines Co will post -5.54 earnings per share for the current year.

In other news, EVP Andrew M. Watterson sold 8,275 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $31.85, for a total transaction of $263,558.75. Following the completion of the sale, the executive vice president now owns 52,911 shares in the company, valued at approximately $1,685,215.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.28% of the stock is currently owned by insiders.

Southwest Airlines Profile

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, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 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.

See Also: Cost of Debt

Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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