Southwest Airlines Co. (NYSE:LUV) Shares Sold by Winthrop Advisory Group LLC

Winthrop Advisory Group LLC lowered its position in Southwest Airlines Co. (NYSE:LUV) by 4.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 17,207 shares of the airline’s stock after selling 854 shares during the quarter. Winthrop Advisory Group LLC’s holdings in Southwest Airlines were worth $510,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LUV. Axiom Advisory LLC raised its holdings in shares of Southwest Airlines by 2.1% in the 3rd quarter. Axiom Advisory LLC now owns 18,306 shares of the airline’s stock worth $507,000 after purchasing an additional 375 shares in the last quarter. GPS Wealth Strategies Group LLC increased its holdings in shares of Southwest Airlines by 35.4% in the second quarter. GPS Wealth Strategies Group LLC now owns 1,487 shares of the airline’s stock valued at $43,000 after buying an additional 389 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Southwest Airlines by 0.8% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 51,395 shares of the airline’s stock valued at $1,470,000 after acquiring an additional 416 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Southwest Airlines by 42.6% in the 2nd quarter. Versant Capital Management Inc now owns 1,412 shares of the airline’s stock worth $40,000 after acquiring an additional 422 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Southwest Airlines by 1.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,373 shares of the airline’s stock worth $959,000 after purchasing an additional 475 shares during the period. 80.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Southwest Airlines news, Director Rakesh Gangwal purchased 643,788 shares of the stock in a transaction dated Tuesday, October 1st. The shares were bought at an average cost of $29.98 per share, with a total value of $19,300,764.24. Following the completion of the transaction, the director now owns 3,606,311 shares in the company, valued at $108,117,203.78. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Rakesh Gangwal acquired 643,788 shares of the stock in a transaction dated Tuesday, October 1st. The shares were acquired at an average price of $29.98 per share, for a total transaction of $19,300,764.24. Following the completion of the purchase, the director now owns 3,606,311 shares in the company, valued at approximately $108,117,203.78. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Elliott Investment Management sold 1,203,920 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $29.83, for a total transaction of $35,912,933.60. Following the transaction, the insider now directly owns 59,912,580 shares in the company, valued at $1,787,192,261.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Southwest Airlines Stock Performance

LUV stock opened at $31.26 on Friday. The company has a market capitalization of $18.75 billion, a price-to-earnings ratio of -446.57, a P/E/G ratio of 9.28 and a beta of 1.15. The firm has a 50 day moving average of $29.89 and a two-hundred day moving average of $28.24. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.49. Southwest Airlines Co. has a 12 month low of $22.58 and a 12 month high of $35.18.

Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, October 24th. The airline reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.10. Southwest Airlines had a negative net margin of 0.06% and a positive return on equity of 4.56%. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.77 billion. During the same period in the prior year, the company posted $0.38 earnings per share. Southwest Airlines’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities analysts anticipate that Southwest Airlines Co. will post 0.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on LUV shares. Barclays increased their price target on Southwest Airlines from $27.00 to $32.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Jefferies Financial Group upgraded shares of Southwest Airlines from an “underperform” rating to a “hold” rating and boosted their price target for the company from $24.00 to $32.00 in a report on Wednesday, October 9th. Citigroup lifted their price objective on shares of Southwest Airlines from $28.25 to $31.50 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. StockNews.com raised Southwest Airlines from a “sell” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $29.00 price objective (down from $32.00) on shares of Southwest Airlines in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.31.

Southwest Airlines Profile

Southwest Airlines Co operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.