Symphony Financial Ltd. Co. trimmed its holdings in Southwest Airlines Co. (NYSE:LUV) by 7.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,229 shares of the airline’s stock after selling 738 shares during the period. Symphony Financial Ltd. Co.’s holdings in Southwest Airlines were worth $416,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LUV. Cubist Systematic Strategies LLC increased its holdings in Southwest Airlines by 100.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 67,728 shares of the airline’s stock worth $2,315,000 after buying an additional 34,018 shares in the last quarter. Private Advisor Group LLC increased its holdings in Southwest Airlines by 328.4% in the 2nd quarter. Private Advisor Group LLC now owns 65,193 shares of the airline’s stock worth $1,704,000 after buying an additional 49,975 shares in the last quarter. B. Riley Wealth Management Inc. bought a new stake in Southwest Airlines in the 2nd quarter worth about $294,000. Orion Portfolio Solutions LLC increased its holdings in Southwest Airlines by 17.1% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 3,153 shares of the airline’s stock worth $108,000 after buying an additional 461 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Southwest Airlines by 16.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,402,857 shares of the airline’s stock worth $82,130,000 after buying an additional 346,109 shares in the last quarter. Institutional investors own 69.35% of the company’s stock.
A number of research firms have issued reports on LUV. Tigress Financial restated a “buy” rating on shares of Southwest Airlines in a research note on Thursday, October 1st. JPMorgan Chase & Co. downgraded Southwest Airlines from a “neutral” rating to an “underweight” rating and set a $41.00 price target for the company. in a research note on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft downgraded Southwest Airlines from a “buy” rating to a “hold” rating and boosted their price target for the company from $48.00 to $50.00 in a research note on Friday, December 11th. Cowen lifted their price objective on Southwest Airlines from $46.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, December 3rd. Finally, Morgan Stanley lifted their price objective on Southwest Airlines from $56.00 to $59.00 and gave the company an “overweight” rating in a research report on Friday, October 23rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $47.96.
Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, October 22nd. The airline reported ($1.99) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.35) by $0.36. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.71 billion. Southwest Airlines had a negative return on equity of 22.65% and a negative net margin of 12.94%. The company’s revenue for the quarter was down 68.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 EPS. As a group, analysts anticipate that Southwest Airlines Co. will post -6.52 EPS for the current year.
In other news, EVP Gregory D. Wells sold 15,166 shares of the business’s stock in a transaction that occurred on Wednesday, November 18th. The stock was sold at an average price of $46.80, for a total transaction of $709,768.80. Following the transaction, the executive vice president now owns 44,567 shares of the company’s stock, valued at approximately $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.
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, 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.
See Also: Net Income
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