Ritholtz Wealth Management acquired a new position in shares of Southwest Airlines Co. (NYSE:LUV) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,032 shares of the airline’s stock, valued at approximately $490,000.
Other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in Southwest Airlines by 1.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,560,218 shares of the airline’s stock valued at $445,602,000 after buying an additional 148,731 shares during the period. U S Global Investors Inc. boosted its holdings in shares of Southwest Airlines by 11.7% in the 1st quarter. U S Global Investors Inc. now owns 7,111,768 shares of the airline’s stock valued at $434,245,000 after purchasing an additional 743,197 shares in the last quarter. Parnassus Investments CA boosted its holdings in shares of Southwest Airlines by 0.3% in the 4th quarter. Parnassus Investments CA now owns 5,343,626 shares of the airline’s stock valued at $249,066,000 after purchasing an additional 15,851 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Southwest Airlines by 230.4% in the 4th quarter. Alliancebernstein L.P. now owns 4,240,120 shares of the airline’s stock valued at $197,632,000 after acquiring an additional 2,956,645 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Southwest Airlines by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,645,164 shares of the airline’s stock valued at $123,291,000 after acquiring an additional 114,481 shares during the last quarter. 78.17% of the stock is owned by institutional investors.
Several research analysts recently issued reports on LUV shares. The Goldman Sachs Group raised their target price on Southwest Airlines from $47.00 to $69.00 and gave the stock a “buy” rating in a research report on Tuesday, March 16th. Raymond James lifted their price target on Southwest Airlines from $54.00 to $71.00 and gave the company an “outperform” rating in a research note on Monday, April 12th. Deutsche Bank Aktiengesellschaft upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Monday, February 22nd. Barclays lifted their target price on shares of Southwest Airlines from $51.00 to $64.00 in a research report on Thursday, April 15th. Finally, Morgan Stanley lifted their target price on shares of Southwest Airlines from $59.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 6th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $60.38.
Southwest Airlines (NYSE:LUV) last issued its earnings results on Wednesday, April 21st. The airline reported ($1.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.85) by $0.13. Southwest Airlines had a negative net margin of 41.71% and a negative return on equity of 46.10%. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the firm posted ($0.15) EPS. The business’s revenue for the quarter was down 51.5% compared to the same quarter last year. As a group, analysts forecast that Southwest Airlines Co. will post -1.32 EPS for the current fiscal year.
In other Southwest Airlines news, Director John T. Montford sold 500 shares of the business’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $61.85, for a total transaction of $30,925.00. Following the sale, the director now owns 22,332 shares of the company’s stock, valued at approximately $1,381,234.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.
Southwest Airlines Company Profile
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, 2020, the company operated a total fleet of 718 Boeing 737 aircrafts; and served 107 destinations in 40 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.
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