HighVista Strategies LLC boosted its stake in Southwest Airlines Company (NYSE:LUV) by 13.6% during the third quarter, Holdings Channel reports. The institutional investor owned 34,200 shares of the airline’s stock after buying an additional 4,100 shares during the period. HighVista Strategies LLC’s holdings in Southwest Airlines Company were worth $1,330,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. Hanson McClain Inc. raised its stake in shares of Southwest Airlines Company by 2.9% in the second quarter. Hanson McClain Inc. now owns 2,653 shares of the airline’s stock worth $104,000 after buying an additional 75 shares in the last quarter. Washington Trust Bank raised its stake in shares of Southwest Airlines Company by 6.9% in the third quarter. Washington Trust Bank now owns 2,704 shares of the airline’s stock worth $105,000 after buying an additional 174 shares in the last quarter. Baker Ellis Asset Management LLC raised its stake in shares of Southwest Airlines Company by 14.6% in the third quarter. Baker Ellis Asset Management LLC now owns 4,700 shares of the airline’s stock worth $183,000 after buying an additional 600 shares in the last quarter. Investment Centers of America Inc. bought a new stake in shares of Southwest Airlines Company during the second quarter worth $208,000. Finally, Rench Wealth Management Inc. raised its stake in shares of Southwest Airlines Company by 0.3% in the second quarter. Rench Wealth Management Inc. now owns 5,305 shares of the airline’s stock worth $208,000 after buying an additional 14 shares in the last quarter. Institutional investors and hedge funds own 76.89% of the company’s stock.
Southwest Airlines Company (NYSE:LUV) opened at 54.71 on Friday. The company’s 50-day moving average is $51.43 and its 200-day moving average is $43.54. Southwest Airlines Company has a 52 week low of $35.42 and a 52 week high of $54.87. The company has a market cap of $33.76 billion, a P/E ratio of 15.41 and a beta of 0.88.
Southwest Airlines Company (NYSE:LUV) last issued its quarterly earnings results on Thursday, January 26th. The airline reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.05. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.03 billion. Southwest Airlines Company had a net margin of 10.97% and a return on equity of 29.79%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.90 EPS. On average, analysts anticipate that Southwest Airlines Company will post $3.88 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Stockholders of record on Thursday, March 9th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Tuesday, March 7th. Southwest Airlines Company’s payout ratio is 11.33%.
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A number of brokerages have weighed in on LUV. Cowen and Company restated an “outperform” rating and issued a $55.00 target price (up previously from $44.00) on shares of Southwest Airlines Company in a research report on Friday, January 6th. Citigroup Inc. restated a “buy” rating on shares of Southwest Airlines Company in a research report on Tuesday, December 6th. Vetr upgraded shares of Southwest Airlines Company from a “buy” rating to a “strong-buy” rating and set a $57.44 target price on the stock in a research report on Monday, January 9th. Morgan Stanley upgraded shares of Southwest Airlines Company from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $45.00 to $55.00 in a research report on Thursday, January 5th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $63.00 target price (up previously from $50.00) on shares of Southwest Airlines Company in a research report on Wednesday, December 21st. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Southwest Airlines Company has an average rating of “Buy” and an average price target of $55.46.
In other Southwest Airlines Company news, EVP Jeff Lamb sold 14,534 shares of the stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $48.10, for a total transaction of $699,085.40. Following the completion of the sale, the executive vice president now owns 117,188 shares of the company’s stock, valued at approximately $5,636,742.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Tammy Romo sold 9,655 shares of the stock in a transaction on Monday, January 30th. The shares were sold at an average price of $51.79, for a total transaction of $500,032.45. Following the sale, the chief financial officer now directly owns 77,937 shares of the company’s stock, valued at approximately $4,036,357.23. The disclosure for this sale can be found here. Insiders sold a total of 24,699 shares of company stock worth $1,225,092 in the last three months. Insiders own 0.18% of the company’s stock.
About Southwest Airlines Company
Southwest Airlines Co (Southwest) operates Southwest Airlines. Southwest is a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company serves approximately 100 destinations in over 40 states, such as the District of Columbia, the Commonwealth of Puerto Rico, and approximately seven near-international countries, including Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, and Belize.
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