NorthCoast Asset Management LLC Cuts Stake in Southwest Airlines Co. (NYSE:LUV)

NorthCoast Asset Management LLC decreased its holdings in Southwest Airlines Co. (NYSE:LUV) by 1.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 20,815 shares of the airline’s stock after selling 301 shares during the period. NorthCoast Asset Management LLC’s holdings in Southwest Airlines were worth $781,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Independent Advisor Alliance raised its holdings in Southwest Airlines by 262.5% in the second quarter. Independent Advisor Alliance now owns 33,244 shares of the airline’s stock valued at $1,078,000 after buying an additional 24,072 shares during the period. State of Michigan Retirement System raised its holdings in Southwest Airlines by 26.2% in the second quarter. State of Michigan Retirement System now owns 137,007 shares of the airline’s stock valued at $4,683,000 after buying an additional 28,423 shares during the period. State of Wisconsin Investment Board raised its holdings in Southwest Airlines by 36.7% in the second quarter. State of Wisconsin Investment Board now owns 344,832 shares of the airline’s stock valued at $11,786,000 after buying an additional 92,589 shares during the period. Swiss National Bank grew its position in Southwest Airlines by 12.1% in the second quarter. Swiss National Bank now owns 572,319 shares of the airline’s stock valued at $19,562,000 after acquiring an additional 61,700 shares in the last quarter. Finally, Stratos Wealth Partners LTD. grew its position in Southwest Airlines by 83.5% in the second quarter. Stratos Wealth Partners LTD. now owns 34,980 shares of the airline’s stock valued at $1,196,000 after acquiring an additional 15,918 shares in the last quarter. Hedge funds and other institutional investors own 72.73% of the company’s stock.

Southwest Airlines stock opened at $45.54 on Friday. The company has a market cap of $26.88 billion, a PE ratio of -16.32 and a beta of 1.20. The company has a fifty day moving average price of $40.71 and a two-hundred day moving average price of $35.77. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.07 and a quick ratio of 2.01. Southwest Airlines Co. has a 12 month low of $22.47 and a 12 month high of $58.83.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, October 22nd. The airline reported ($1.99) EPS for the quarter, topping analysts’ consensus estimates of ($2.35) by $0.36. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.71 billion. Southwest Airlines had a negative net margin of 12.94% and a negative return on equity of 22.65%. The firm’s revenue was down 68.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.23 earnings per share. Equities research analysts anticipate that Southwest Airlines Co. will post -6.67 earnings per share for the current year.

LUV has been the subject of several recent research reports. Smith Barney Citigroup increased their price objective on shares of Southwest Airlines from $36.00 to $40.00 in a research report on Thursday, October 29th. Raymond James increased their price objective on shares of Southwest Airlines from $45.00 to $49.00 and gave the company a “strong-buy” rating in a research report on Friday, October 23rd. UBS Group increased their price objective on shares of Southwest Airlines from $48.00 to $52.00 in a research report on Friday, October 23rd. Barclays increased their price objective on shares of Southwest Airlines from $35.00 to $40.00 in a research report on Friday, September 18th. Finally, ValuEngine raised shares of Southwest Airlines from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $47.22.

In other Southwest Airlines news, EVP Gregory D. Wells sold 15,166 shares of Southwest Airlines stock in a transaction on Wednesday, November 18th. The shares were sold at an average price of $46.80, for a total value of $709,768.80. Following the completion of the transaction, the executive vice president now owns 44,567 shares of the company’s stock, valued at $2,085,735.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.28% of the company’s stock.

Southwest Airlines Company 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, 2019, the company operated a total of 747 Boeing 737 aircraft; and served 101 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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