Signition LP Takes Position in Southwest Airlines Co (LUV)

Signition LP bought a new stake in shares of Southwest Airlines Co (NYSE:LUV) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,005 shares of the airline’s stock, valued at approximately $375,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC purchased a new stake in Southwest Airlines in the 2nd quarter worth $55,219,000. Waddell & Reed Financial Inc. purchased a new stake in Southwest Airlines in the 2nd quarter worth $45,543,000. American Century Companies Inc. lifted its stake in Southwest Airlines by 33.9% in the 2nd quarter. American Century Companies Inc. now owns 3,500,152 shares of the airline’s stock worth $178,088,000 after purchasing an additional 886,325 shares in the last quarter. Morgan Stanley lifted its stake in Southwest Airlines by 37.8% in the 2nd quarter. Morgan Stanley now owns 3,167,424 shares of the airline’s stock worth $161,158,000 after purchasing an additional 868,643 shares in the last quarter. Finally, Scout Investments Inc. purchased a new stake in Southwest Airlines in the 2nd quarter worth $26,086,000. Institutional investors own 77.98% of the company’s stock.

Several analysts have commented on the stock. Macquarie upgraded shares of Southwest Airlines to an “outperform” rating in a research note on Tuesday, September 18th. ValuEngine upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating in a research note on Monday, September 17th. Imperial Capital reiterated an “outperform” rating and issued a $66.00 price target (up previously from $60.00) on shares of Southwest Airlines in a research note on Thursday, September 27th. Zacks Investment Research cut shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Finally, Buckingham Research boosted their price target on shares of Southwest Airlines from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $66.78.

In related news, Director John T. Montford sold 430 shares of the company’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $58.27, for a total transaction of $25,056.10. Following the transaction, the director now directly owns 23,853 shares in the company, valued at approximately $1,389,914.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew M. Watterson sold 6,130 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $59.28, for a total transaction of $363,386.40. Following the transaction, the executive vice president now owns 16,597 shares in the company, valued at $983,870.16. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

Shares of NYSE LUV opened at $51.82 on Friday. 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 stock has a market cap of $29.14 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 1.13 and a beta of 1.22. Southwest Airlines Co has a 12-month low of $47.10 and a 12-month high of $66.99.

Southwest Airlines (NYSE:LUV) last announced its earnings results on Thursday, October 25th. The airline reported $1.08 earnings per share (EPS) for the quarter, beating the 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 period in the prior year, the company earned $0.88 EPS. As a group, sell-side analysts expect that Southwest Airlines Co will post 4.12 EPS for the current year.

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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