Archford Capital Strategies LLC trimmed its position in Southwest Airlines Company (NYSE:LUV) by 34.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,206 shares of the airline’s stock after selling 641 shares during the quarter. Archford Capital Strategies LLC’s holdings in Southwest Airlines were worth $239,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cookson Peirce & Co. Inc. bought a new stake in shares of Southwest Airlines in the 2nd quarter valued at approximately $20,622,000. Advisory Services Network LLC increased its holdings in shares of Southwest Airlines by 1.0% in the 2nd quarter. Advisory Services Network LLC now owns 13,716 shares of the airline’s stock valued at $852,000 after acquiring an additional 132 shares during the last quarter. U S Global Investors Inc. increased its holdings in shares of Southwest Airlines by 63.7% in the 2nd quarter. U S Global Investors Inc. now owns 245,443 shares of the airline’s stock valued at $13,703,000 after acquiring an additional 95,484 shares during the last quarter. Mountain Capital Investment Advisors Inc bought a new stake in shares of Southwest Airlines in the 2nd quarter valued at approximately $256,000. Finally, Strategic Wealth Advisors Group LLC bought a new stake in shares of Southwest Airlines in the 2nd quarter valued at approximately $1,351,000. Institutional investors and hedge funds own 79.41% of the company’s stock.

Southwest Airlines Company (LUV) traded up 0.127% on Tuesday, hitting $58.955. The stock had a trading volume of 1,586,532 shares. The firm’s 50-day moving average price is $55.01 and its 200-day moving average price is $57.18. Southwest Airlines Company has a 1-year low of $36.91 and a 1-year high of $64.39. The firm has a market cap of $35.29 billion, a P/E ratio of 18.079 and a beta of 1.32.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Thursday, July 27th. The airline reported $1.24 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same period last year, the firm posted $1.19 EPS. The business’s revenue was up 6.7% on a year-over-year basis. On average, equities research analysts predict that Southwest Airlines Company will post $3.62 earnings per share for the current year.

A number of brokerages have recently weighed in on LUV. J P Morgan Chase & Co upgraded Southwest Airlines from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $60.00 to $66.00 in a report on Friday, September 15th. Cowen and Company reiterated a “buy” rating and issued a $67.00 price target on shares of Southwest Airlines in a report on Friday, September 1st. Citigroup Inc. reiterated a “buy” rating and issued a $64.00 price target (down from $65.00) on shares of Southwest Airlines in a report on Thursday, September 7th. Argus upgraded Southwest Airlines from a “hold” rating to a “buy” rating and boosted their price target for the company from $61.76 to $68.00 in a report on Thursday, June 22nd. Finally, Zacks Investment Research upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Tuesday, July 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company. Southwest Airlines has an average rating of “Buy” and a consensus price target of $66.95.

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In other Southwest Airlines news, Director William H. Dr Cunningham purchased 4,500 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average cost of $54.00 per share, with a total value of $243,000.00. Following the acquisition, the director now directly owns 66,969 shares of the company’s stock, valued at approximately $3,616,326. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 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.

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

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