Gotham Asset Management LLC trimmed its holdings in Southwest Airlines Company (NYSE:LUV) by 44.3% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 161,443 shares of the airline’s stock after selling 128,577 shares during the quarter. Gotham Asset Management LLC’s holdings in Southwest Airlines were worth $10,032,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Macquarie Group Ltd. lifted its holdings in shares of Southwest Airlines by 7.7% in the 2nd quarter. Macquarie Group Ltd. now owns 216,819 shares of the airline’s stock worth $13,472,000 after acquiring an additional 15,575 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Southwest Airlines by 2.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 466,121 shares of the airline’s stock valued at $28,965,000 after buying an additional 10,851 shares during the last quarter. Columbus Circle Investors raised its holdings in Southwest Airlines by 28.2% during the 2nd quarter. Columbus Circle Investors now owns 220,903 shares of the airline’s stock valued at $13,727,000 after buying an additional 48,632 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in Southwest Airlines during the 1st quarter valued at $22,797,000. Finally, Marshall Wace North America L.P. raised its holdings in Southwest Airlines by 912.7% during the 2nd quarter. Marshall Wace North America L.P. now owns 49,855 shares of the airline’s stock valued at $3,091,000 after buying an additional 44,932 shares during the last quarter. Hedge funds and other institutional investors own 79.41% of the company’s stock.
Shares of Southwest Airlines Company (NYSE:LUV) traded up 0.05% during trading on Wednesday, hitting $58.76. 818,396 shares of the stock traded hands. Southwest Airlines Company has a 52-week low of $36.91 and a 52-week high of $64.39. The firm has a market cap of $35.17 billion, a price-to-earnings ratio of 18.02 and a beta of 1.32. The stock has a 50 day moving average of $55.01 and a 200 day moving average of $57.18.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, July 27th. The airline reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Southwest Airlines had a return on equity of 26.07% and a net margin of 9.63%. Southwest Airlines’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.19 earnings per share. Analysts expect that Southwest Airlines Company will post $3.62 EPS for the current year.
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A number of equities research analysts recently commented on the stock. Vetr lowered shares of Southwest Airlines from a “buy” rating to a “hold” rating and set a $59.16 price target for the company. in a report on Wednesday, October 4th. Macquarie assumed coverage on shares of Southwest Airlines in a report on Monday, September 25th. They set an “outperform” rating and a $62.00 price target for the company. Zacks Investment Research lowered shares of Southwest Airlines from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. Raymond James Financial, Inc. raised shares of Southwest Airlines from a “market perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research report on Wednesday, September 20th. Finally, J P Morgan Chase & Co raised shares of Southwest Airlines from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $60.00 to $66.00 in a research report on Friday, September 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $66.95.
In other news, Director William H. Dr Cunningham acquired 4,500 shares of Southwest Airlines stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average cost of $54.00 per share, with a total value of $243,000.00. Following the completion of the acquisition, the director now owns 66,969 shares in the company, valued at approximately $3,616,326. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.
About Southwest Airlines
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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