Lake Street Financial LLC Acquires New Position in Southwest Airlines Co. (NYSE:LUV)

Lake Street Financial LLC bought a new stake in Southwest Airlines Co. (NYSE:LUVGet Rating) in the first quarter, HoldingsChannel.com reports. The fund bought 16,919 shares of the airline’s stock, valued at approximately $775,000.

A number of other institutional investors and hedge funds have also made changes to their positions in LUV. Lincoln National Corp lifted its holdings in shares of Southwest Airlines by 22.9% in the 1st quarter. Lincoln National Corp now owns 17,286 shares of the airline’s stock worth $792,000 after purchasing an additional 3,219 shares during the last quarter. Checchi Capital Advisers LLC bought a new stake in shares of Southwest Airlines in the 1st quarter worth approximately $236,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Southwest Airlines by 21.0% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 204,322 shares of the airline’s stock worth $9,358,000 after purchasing an additional 35,491 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Southwest Airlines by 36.3% in the 1st quarter. Qube Research & Technologies Ltd now owns 213,534 shares of the airline’s stock worth $9,780,000 after purchasing an additional 56,912 shares during the last quarter. Finally, TRUE Private Wealth Advisors lifted its holdings in shares of Southwest Airlines by 71.0% in the 1st quarter. TRUE Private Wealth Advisors now owns 10,752 shares of the airline’s stock worth $516,000 after purchasing an additional 4,465 shares during the last quarter. 76.74% of the stock is currently owned by institutional investors and hedge funds.

Southwest Airlines Stock Up 0.1 %

NYSE:LUV opened at $38.81 on Friday. The stock’s fifty day moving average price is $39.08 and its two-hundred day moving average price is $42.49. Southwest Airlines Co. has a 52-week low of $34.36 and a 52-week high of $56.33. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.59 and a current ratio of 1.66. The company has a market cap of $23.03 billion, a price-to-earnings ratio of 24.72, a P/E/G ratio of 2.66 and a beta of 1.00.

Southwest Airlines (NYSE:LUVGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The airline reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.39. Southwest Airlines had a return on equity of 5.54% and a net margin of 4.71%. The firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.69 billion. During the same quarter in the prior year, the business earned ($0.35) EPS. The business’s revenue for the quarter was up 67.9% compared to the same quarter last year. On average, analysts anticipate that Southwest Airlines Co. will post 2.43 EPS for the current year.

Analyst Upgrades and Downgrades

LUV has been the topic of several recent research reports. Citigroup raised their price target on Southwest Airlines from $48.00 to $53.00 in a report on Monday, May 2nd. JPMorgan Chase & Co. lifted their target price on Southwest Airlines from $62.00 to $72.00 in a research note on Friday, April 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $60.00 target price on shares of Southwest Airlines in a research note on Friday, April 29th. Susquehanna Bancshares raised Southwest Airlines from a “neutral” rating to a “positive” rating and set a $45.00 target price on the stock in a research note on Tuesday, July 12th. Finally, Barclays cut their target price on Southwest Airlines from $58.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, June 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Southwest Airlines has a consensus rating of “Moderate Buy” and a consensus price target of $53.06.

Insiders Place Their Bets

In other Southwest Airlines news, Director John T. Montford sold 2,300 shares of the company’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $45.70, for a total transaction of $105,110.00. Following the transaction, the director now owns 23,296 shares of the company’s stock, valued at approximately $1,064,627.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.32% of the company’s stock.

Southwest Airlines Profile

(Get Rating)

Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2021, the company operated a total fleet of 728 Boeing 737 aircrafts; and served 121 destinations in 42 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.

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

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