IHT Wealth Management LLC Sells 422 Shares of Southwest Airlines Co. (NYSE:LUV)

IHT Wealth Management LLC decreased its position in shares of Southwest Airlines Co. (NYSE:LUV) by 2.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 14,330 shares of the airline’s stock after selling 422 shares during the quarter. IHT Wealth Management LLC’s holdings in Southwest Airlines were worth $875,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in Southwest Airlines by 3.5% in the first quarter. Geode Capital Management LLC now owns 10,568,142 shares of the airline’s stock valued at $644,095,000 after buying an additional 362,019 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Southwest Airlines by 1.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,560,218 shares of the airline’s stock worth $445,602,000 after purchasing an additional 148,731 shares during the last quarter. U S Global Investors Inc. raised its stake in shares of Southwest Airlines by 11.7% in the first quarter. U S Global Investors Inc. now owns 7,111,768 shares of the airline’s stock worth $434,245,000 after purchasing an additional 743,197 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Southwest Airlines by 591.2% in the first quarter. Janus Henderson Group PLC now owns 3,547,680 shares of the airline’s stock worth $216,622,000 after purchasing an additional 3,034,431 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Southwest Airlines by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,645,164 shares of the airline’s stock worth $123,291,000 after purchasing an additional 114,481 shares during the last quarter. 77.89% of the stock is currently owned by institutional investors and hedge funds.

Southwest Airlines stock opened at $53.13 on Thursday. Southwest Airlines Co. has a fifty-two week low of $30.24 and a fifty-two week high of $64.75. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.97 and a quick ratio of 1.91. The stock has a market cap of $31.42 billion, a P/E ratio of -10.76 and a beta of 1.23. The firm has a 50-day moving average price of $56.43.

Southwest Airlines (NYSE:LUV) last posted its earnings results on Wednesday, April 21st. The airline reported ($1.72) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.85) by $0.13. Southwest Airlines had a negative return on equity of 46.10% and a negative net margin of 41.71%. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the business earned ($0.15) EPS. The business’s quarterly revenue was down 51.5% on a year-over-year basis. Sell-side analysts forecast that Southwest Airlines Co. will post -1.16 earnings per share for the current year.

Several research firms recently commented on LUV. MKM Partners began coverage on Southwest Airlines in a report on Thursday, June 10th. They set a “buy” rating and a $74.00 target price on the stock. Barclays lifted their price objective on Southwest Airlines from $51.00 to $64.00 in a research report on Thursday, April 15th. Raymond James lifted their price objective on Southwest Airlines from $54.00 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, April 12th. JPMorgan Chase & Co. upgraded Southwest Airlines from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $44.00 to $66.00 in a research report on Wednesday, April 14th. Finally, Zacks Investment Research upgraded Southwest Airlines from a “sell” rating to a “hold” rating and set a $65.00 price objective on the stock in a research report on Wednesday, March 31st. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Southwest Airlines presently has an average rating of “Buy” and a consensus target price of $61.45.

Southwest Airlines 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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