Fulton Bank N.A. Decreases Stock Holdings in Southwest Airlines Co. (NYSE:LUV)

Fulton Bank N.A. lowered its stake in Southwest Airlines Co. (NYSE:LUV) by 22.0% during the first quarter, Holdings Channel.com reports. The fund owned 15,881 shares of the airline’s stock after selling 4,467 shares during the quarter. Fulton Bank N.A.’s holdings in Southwest Airlines were worth $970,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bay Harbor Wealth Management LLC lifted its stake in Southwest Airlines by 2,108.0% in the 4th quarter. Bay Harbor Wealth Management LLC now owns 552 shares of the airline’s stock valued at $26,000 after buying an additional 527 shares in the last quarter. Bellwether Advisors LLC acquired a new position in shares of Southwest Airlines during the fourth quarter valued at approximately $27,000. Phoenix Wealth Advisors purchased a new position in shares of Southwest Airlines in the fourth quarter valued at approximately $28,000. SOA Wealth Advisors LLC. acquired a new stake in shares of Southwest Airlines in the fourth quarter worth approximately $31,000. Finally, Jacobi Capital Management LLC increased its position in shares of Southwest Airlines by 368.0% during the fourth quarter. Jacobi Capital Management LLC now owns 702 shares of the airline’s stock worth $33,000 after purchasing an additional 552 shares in the last quarter. 74.00% of the stock is owned by institutional investors.

In other news, EVP Andrew M. Watterson sold 16,300 shares of the company’s stock in a transaction on Wednesday, February 24th. The stock was sold at an average price of $59.20, for a total transaction of $964,960.00. Following the sale, the executive vice president now owns 53,111 shares of the company’s stock, valued at $3,144,171.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO De Ven Michael G. Van sold 32,522 shares of the stock in a transaction on Tuesday, February 23rd. The shares were sold at an average price of $56.06, for a total value of $1,823,183.32. Following the completion of the sale, the chief operating officer now owns 262,319 shares in the company, valued at $14,705,603.14. The disclosure for this sale can be found here. Insiders have sold 56,418 shares of company stock worth $3,225,340 in the last three months. Corporate insiders own 0.28% of the company’s stock.

Several equities research analysts have issued reports on LUV shares. Susquehanna Bancshares lifted their target price on shares of Southwest Airlines from $50.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, January 14th. Zacks Investment Research upgraded shares of Southwest Airlines from a “sell” rating to a “hold” rating and set a $65.00 price target on the stock in a research report on Wednesday, March 31st. Credit Suisse Group increased their price objective on shares of Southwest Airlines from $51.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, January 29th. Morgan Stanley boosted their target price on Southwest Airlines from $59.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Citigroup lifted their price objective on Southwest Airlines from $40.00 to $50.00 in a research report on Tuesday, January 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $56.10.

Shares of NYSE:LUV traded down $1.05 during mid-day trading on Thursday, reaching $62.47. 21,664 shares of the company were exchanged, compared to its average volume of 8,082,563. Southwest Airlines Co. has a 1 year low of $22.47 and a 1 year high of $64.64. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.07 and a quick ratio of 2.01. The firm’s 50-day simple moving average is $58.83 and its 200 day simple moving average is $47.94. The firm has a market cap of $36.90 billion, a price-to-earnings ratio of -22.77, a P/E/G ratio of 139.97 and a beta of 1.23.

Southwest Airlines (NYSE:LUV) last announced its earnings results on Wednesday, January 27th. The airline reported ($1.29) EPS for the quarter, beating analysts’ consensus estimates of ($1.68) by $0.39. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Southwest Airlines had a negative return on equity of 22.65% and a negative net margin of 12.94%. Southwest Airlines’s revenue for the quarter was down 64.9% on a year-over-year basis. During the same period last year, the business posted $1.16 EPS. On average, research analysts forecast that Southwest Airlines Co. will post -6.54 earnings per share for the current fiscal year.

Southwest Airlines Company Profile

Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2020, the company operated a total fleet of 718 Boeing 737 aircrafts; and served 107 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten 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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