Stratos Wealth Partners LTD. cut its holdings in Southwest Airlines Co (NYSE:LUV) by 5.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 71,807 shares of the airline’s stock after selling 4,018 shares during the period. Stratos Wealth Partners LTD.’s holdings in Southwest Airlines were worth $4,484,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Daiwa Securities Group Inc. boosted its holdings in Southwest Airlines by 19.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 24,964 shares of the airline’s stock worth $1,559,000 after buying an additional 4,118 shares during the period. Tdam USA Inc. bought a new position in Southwest Airlines in the 3rd quarter valued at $228,000. Private Advisor Group LLC boosted its holdings in Southwest Airlines by 26.3% in the 3rd quarter. Private Advisor Group LLC now owns 18,452 shares of the airline’s stock valued at $1,152,000 after purchasing an additional 3,844 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Southwest Airlines by 5.6% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 20,018 shares of the airline’s stock valued at $1,245,000 after purchasing an additional 1,069 shares during the period. Finally, Signition LP bought a new position in Southwest Airlines in the 3rd quarter valued at $375,000. 78.03% of the stock is owned by institutional investors.
Southwest Airlines stock opened at $51.42 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.65 and a current ratio of 0.71. The firm has a market cap of $29.14 billion, a PE ratio of 14.69, a P/E/G ratio of 1.13 and a beta of 1.22. Southwest Airlines Co has a fifty-two week low of $47.10 and a fifty-two week high of $66.99.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, October 25th. The airline reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.02. The firm had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.56 billion. Southwest Airlines had a net margin of 17.18% and a return on equity of 22.27%. During the same quarter last year, the company posted $0.88 EPS. As a group, equities analysts forecast that Southwest Airlines Co will post 4.12 earnings per share for the current year.
Several brokerages have commented on LUV. JPMorgan Chase & Co. downgraded shares of Southwest Airlines from a “neutral” rating to an “underweight” rating and cut their price target for the company from $63.00 to $52.00 in a report on Tuesday, October 30th. Buckingham Research cut their price target on shares of Southwest Airlines from $73.00 to $65.00 and set a “buy” rating for the company in a report on Friday, October 26th. Raymond James cut their price target on shares of Southwest Airlines from $68.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, October 26th. Imperial Capital cut their price target on shares of Southwest Airlines from $66.00 to $56.00 and set an “in-line” rating for the company in a report on Friday, October 26th. Finally, Zacks Investment Research downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. Southwest Airlines currently has an average rating of “Buy” and a consensus target price of $66.78.
In other news, EVP Andrew M. Watterson sold 6,130 shares of the firm’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $59.28, for a total transaction of $363,386.40. Following the sale, the executive vice president now owns 16,597 shares in the company, valued at approximately $983,870.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.23% of the company’s stock.
Southwest Airlines Profile
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, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 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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