Heritage Wealth Management LLC bought a new position in shares of Southwest Airlines Co. (NYSE:LUV) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 853 shares of the airline’s stock, valued at approximately $45,000.
A number of other large investors have also modified their holdings of LUV. Main Street Financial Solutions LLC boosted its stake in Southwest Airlines by 2.4% in the 1st quarter. Main Street Financial Solutions LLC now owns 8,393 shares of the airline’s stock worth $512,000 after purchasing an additional 195 shares during the period. Accel Wealth Management boosted its stake in Southwest Airlines by 18.5% in the 2nd quarter. Accel Wealth Management now owns 1,284 shares of the airline’s stock worth $68,000 after purchasing an additional 200 shares during the period. Bessemer Group Inc. boosted its stake in Southwest Airlines by 8.8% in the 2nd quarter. Bessemer Group Inc. now owns 2,591 shares of the airline’s stock worth $137,000 after purchasing an additional 209 shares during the period. Checchi Capital Advisers LLC boosted its stake in Southwest Airlines by 4.6% in the 1st quarter. Checchi Capital Advisers LLC now owns 4,792 shares of the airline’s stock worth $293,000 after purchasing an additional 210 shares during the period. Finally, Smith Moore & CO. boosted its stake in Southwest Airlines by 4.3% in the 1st quarter. Smith Moore & CO. now owns 5,164 shares of the airline’s stock worth $315,000 after purchasing an additional 214 shares during the period. Hedge funds and other institutional investors own 77.30% of the company’s stock.
LUV has been the subject of a number of recent analyst reports. Redburn Partners initiated coverage on shares of Southwest Airlines in a research note on Wednesday, August 11th. They issued a “buy” rating for the company. Zacks Investment Research raised shares of Southwest Airlines from a “sell” rating to a “hold” rating and set a $52.00 price objective for the company in a research note on Tuesday. Morgan Stanley cut their target price on shares of Southwest Airlines from $80.00 to $76.00 and set an “overweight” rating for the company in a research report on Tuesday, September 14th. Citigroup cut their target price on shares of Southwest Airlines from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $51.24 target price (down previously from $75.00) on shares of Southwest Airlines in a research report on Monday, July 26th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Southwest Airlines currently has an average rating of “Buy” and an average target price of $59.28.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Wednesday, July 21st. The airline reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $3.94 billion. Southwest Airlines had a negative net margin of 16.23% and a negative return on equity of 33.72%. The firm’s revenue for the quarter was up 297.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.67) EPS. On average, equities research analysts predict that Southwest Airlines Co. will post -1.55 earnings per share for the current year.
Southwest Airlines Company 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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