Southwest Airlines Co (NYSE:LUV) Position Increased by Highland Capital Management LLC

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Highland Capital Management LLC boosted its holdings in shares of Southwest Airlines Co (NYSE:LUV) by 134.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,566 shares of the airline’s stock after acquiring an additional 11,794 shares during the period. Highland Capital Management LLC’s holdings in Southwest Airlines were worth $1,284,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of LUV. Financial Gravity Wealth Inc. acquired a new position in shares of Southwest Airlines during the 1st quarter worth about $168,000. A.R.T. Advisors LLC lifted its position in shares of Southwest Airlines by 79.7% during the 1st quarter. A.R.T. Advisors LLC now owns 30,900 shares of the airline’s stock worth $1,769,000 after purchasing an additional 13,700 shares during the last quarter. LPL Financial LLC lifted its position in shares of Southwest Airlines by 29.5% during the 1st quarter. LPL Financial LLC now owns 85,722 shares of the airline’s stock worth $4,910,000 after purchasing an additional 19,542 shares during the last quarter. Private Capital Group LLC lifted its position in shares of Southwest Airlines by 819.2% during the 1st quarter. Private Capital Group LLC now owns 1,866 shares of the airline’s stock worth $107,000 after purchasing an additional 1,663 shares during the last quarter. Finally, Amalgamated Bank lifted its position in shares of Southwest Airlines by 10.8% during the 1st quarter. Amalgamated Bank now owns 80,632 shares of the airline’s stock worth $4,619,000 after purchasing an additional 7,882 shares during the last quarter. 78.03% of the stock is owned by institutional investors.

NYSE:LUV traded down $0.23 during trading hours on Friday, hitting $52.49. 4,229,929 shares of the stock were exchanged, compared to its average volume of 6,956,857. Southwest Airlines Co has a twelve month low of $47.10 and a twelve month high of $66.99. 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 company has a market cap of $29.73 billion, a price-to-earnings ratio of 15.00, a P/E/G ratio of 1.15 and a beta of 1.22.

Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, October 25th. The airline reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.02. Southwest Airlines had a return on equity of 22.27% and a net margin of 17.18%. The firm had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.56 billion. During the same quarter in the prior year, the business earned $0.88 EPS. On average, equities analysts predict that Southwest Airlines Co will post 4.12 EPS for the current fiscal year.

Several equities analysts recently issued reports on the company. Zacks Investment Research lowered Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. Stephens set a $69.00 price target on Southwest Airlines and gave the company a “buy” rating in a research note on Friday, July 27th. JPMorgan Chase & Co. lowered Southwest Airlines from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $63.00 to $52.00 in a research note on Tuesday, October 30th. ValuEngine upgraded Southwest Airlines from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. Finally, Cowen increased their price target on Southwest Airlines from $63.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, July 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $66.78.

In other news, EVP Andrew M. Watterson sold 6,130 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $59.28, for a total value of $363,386.40. Following the transaction, the executive vice president now owns 16,597 shares of the company’s stock, valued at approximately $983,870.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.23% of the company’s stock.

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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, 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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Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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