Quadrant Capital Group LLC lifted its stake in Southwest Airlines Co (NYSE:LUV) by 9.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,430 shares of the airline’s stock after purchasing an additional 368 shares during the period. Quadrant Capital Group LLC’s holdings in Southwest Airlines were worth $232,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Railway Pension Investments Ltd lifted its holdings in Southwest Airlines by 9.9% during the 3rd quarter. Railway Pension Investments Ltd now owns 133,565 shares of the airline’s stock worth $7,213,000 after buying an additional 12,010 shares during the last quarter. Rhumbline Advisers lifted its holdings in Southwest Airlines by 4.0% during the 3rd quarter. Rhumbline Advisers now owns 1,066,579 shares of the airline’s stock worth $57,606,000 after buying an additional 40,863 shares during the last quarter. AdvisorNet Financial Inc lifted its holdings in Southwest Airlines by 323.3% during the 3rd quarter. AdvisorNet Financial Inc now owns 3,234 shares of the airline’s stock worth $175,000 after buying an additional 2,470 shares during the last quarter. Courant Investment Management LLC lifted its holdings in Southwest Airlines by 15.7% during the 3rd quarter. Courant Investment Management LLC now owns 368,055 shares of the airline’s stock worth $19,879,000 after buying an additional 50,000 shares during the last quarter. Finally, Ledyard National Bank lifted its holdings in Southwest Airlines by 2.4% during the 3rd quarter. Ledyard National Bank now owns 104,256 shares of the airline’s stock worth $5,630,000 after buying an additional 2,440 shares during the last quarter. 82.08% of the stock is owned by institutional investors.
Southwest Airlines stock opened at $56.74 on Friday. Southwest Airlines Co has a fifty-two week low of $44.28 and a fifty-two week high of $58.77. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.59 and a current ratio of 0.65. The company has a market capitalization of $30.26 billion, a P/E ratio of 13.38, a PEG ratio of 1.48 and a beta of 1.48. The stock has a 50-day simple moving average of $54.00 and a 200-day simple moving average of $52.23.
Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, October 24th. The airline reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.15. Southwest Airlines had a return on equity of 24.71% and a net margin of 10.90%. The business had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the previous year, the business earned $1.08 EPS. The business’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, analysts forecast that Southwest Airlines Co will post 4.27 earnings per share for the current year.
A number of brokerages have issued reports on LUV. Macquarie raised Southwest Airlines from a “neutral” rating to an “outperform” rating and set a $67.00 price target for the company in a report on Friday, September 13th. Stifel Nicolaus downgraded Southwest Airlines from a “buy” rating to a “hold” rating and decreased their price target for the stock from $75.00 to $60.00 in a report on Monday, October 21st. Tigress Financial reaffirmed a “buy” rating on shares of Southwest Airlines in a report on Thursday, September 26th. Wolfe Research raised Southwest Airlines from a “peer perform” rating to an “outperform” rating and set a $57.00 price target for the company in a report on Friday, August 16th. Finally, Argus downgraded Southwest Airlines from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $58.27.
About Southwest Airlines
Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 destinations in 40 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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