Southwest Airlines Company (LUV) Position Lowered by Greenwood Capital Associates LLC
Greenwood Capital Associates LLC cut its stake in shares of Southwest Airlines Company (NYSE:LUV) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,157 shares of the airline’s stock after selling 51 shares during the period. Greenwood Capital Associates LLC’s holdings in Southwest Airlines were worth $2,992,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the stock. DnB Asset Management AS bought a new position in shares of Southwest Airlines during the first quarter valued at about $697,000. Columbus Circle Investors increased its position in shares of Southwest Airlines by 28.2% in the second quarter. Columbus Circle Investors now owns 220,903 shares of the airline’s stock valued at $13,727,000 after buying an additional 48,632 shares during the period. MARSHALL WACE ASIA Ltd bought a new position in shares of Southwest Airlines during the first quarter valued at about $22,797,000. Wedbush Securities Inc. increased its position in shares of Southwest Airlines by 21.3% in the first quarter. Wedbush Securities Inc. now owns 13,146 shares of the airline’s stock valued at $707,000 after buying an additional 2,311 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of Southwest Airlines by 2.5% in the first quarter. Parallel Advisors LLC now owns 21,857 shares of the airline’s stock valued at $1,271,000 after buying an additional 524 shares during the period. Institutional investors own 79.41% of the company’s stock.
Shares of Southwest Airlines Company (LUV) opened at 51.46 on Wednesday. Southwest Airlines Company has a 52 week low of $36.05 and a 52 week high of $64.39. The company has a market capitalization of $30.80 billion, a PE ratio of 15.78 and a beta of 1.26. The stock has a 50 day moving average price of $57.18 and a 200-day moving average price of $57.26. Southwest Airlines also saw some unusual options trading on Tuesday. Stock investors acquired 8,439 put options on the stock. This represents an increase of 450% compared to the typical volume of 1,533 put options.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, July 27th. The airline reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. Southwest Airlines had a return on equity of 26.07% and a net margin of 9.63%. The business had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same quarter last year, the business posted $1.19 EPS. The business’s revenue was up 6.7% on a year-over-year basis. Equities research analysts expect that Southwest Airlines Company will post $3.81 EPS for the current year.
Southwest Airlines announced that its board has authorized a stock repurchase program on Wednesday, May 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the airline to reacquire up to 5.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed 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 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Tuesday, August 22nd. Southwest Airlines’s dividend payout ratio (DPR) is currently 15.34%.
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Several research analysts recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and set a $66.00 price target (up previously from $65.00) on shares of Southwest Airlines in a research report on Monday, July 10th. Wolfe Research downgraded shares of Southwest Airlines from an “outperform” rating to a “market perform” rating and set a $63.00 price target on the stock. in a research report on Monday, July 10th. They noted that the move was a valuation call. BidaskClub downgraded shares of Southwest Airlines from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Tuesday, July 4th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $70.00 price target on shares of Southwest Airlines in a research report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $65.66.
In other Southwest Airlines news, Director William H. Dr Cunningham acquired 4,500 shares of the company’s stock in a transaction on Friday, August 11th. The stock was acquired at an average price of $54.00 per share, for a total transaction of $243,000.00. Following the acquisition, the director now owns 66,969 shares in the company, valued at approximately $3,616,326. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company 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.
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