Southwest Airlines Co. (NYSE:LUV) Shares Purchased by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC boosted its stake in Southwest Airlines Co. (NYSE:LUV) by 2.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,295 shares of the airline’s stock after buying an additional 721 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Southwest Airlines were worth $1,046,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Capital World Investors lifted its holdings in shares of Southwest Airlines by 14.9% in the 1st quarter. Capital World Investors now owns 61,422,187 shares of the airline’s stock worth $1,792,914,000 after acquiring an additional 7,946,199 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Southwest Airlines by 3.3% during the first quarter. Vanguard Group Inc. now owns 67,569,773 shares of the airline’s stock worth $1,972,362,000 after buying an additional 2,148,435 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Southwest Airlines in the second quarter valued at $48,551,000. Canada Pension Plan Investment Board raised its holdings in shares of Southwest Airlines by 629.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,590,298 shares of the airline’s stock valued at $45,498,000 after buying an additional 1,372,305 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Southwest Airlines by 21.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,828,166 shares of the airline’s stock worth $166,742,000 after acquiring an additional 1,034,496 shares in the last quarter. Institutional investors and hedge funds own 80.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Citigroup boosted their price target on shares of Southwest Airlines from $28.25 to $31.50 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. StockNews.com raised shares of Southwest Airlines from a “sell” rating to a “hold” rating in a research note on Monday, October 28th. Sanford C. Bernstein decreased their price target on shares of Southwest Airlines from $26.00 to $24.00 and set a “market perform” rating for the company in a research report on Monday, August 5th. BNP Paribas raised Southwest Airlines to a “strong sell” rating in a research report on Thursday, September 19th. Finally, Bank of America assumed coverage on Southwest Airlines in a report on Monday, November 4th. They issued a “neutral” rating and a $33.00 target price for the company. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $30.96.

Insider Transactions at Southwest Airlines

In other news, major shareholder Elliott Investment Management sold 1,203,920 shares of Southwest Airlines stock in a transaction on Monday, October 28th. The shares were sold at an average price of $29.83, for a total value of $35,912,933.60. Following the transaction, the insider now directly owns 59,912,580 shares of the company’s stock, valued at $1,787,192,261.40. The trade was a 1.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rakesh Gangwal acquired 643,788 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was acquired at an average price of $29.98 per share, for a total transaction of $19,300,764.24. Following the completion of the purchase, the director now owns 3,606,311 shares of the company’s stock, valued at $108,117,203.78. This trade represents a 21.73 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Southwest Airlines Stock Up 0.1 %

LUV stock opened at $32.42 on Friday. The stock has a market cap of $19.44 billion, a P/E ratio of -463.07, a PEG ratio of 7.49 and a beta of 1.15. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 0.49. Southwest Airlines Co. has a twelve month low of $23.58 and a twelve month high of $35.18. The company’s 50 day moving average is $30.18 and its two-hundred day moving average is $28.36.

Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Thursday, October 24th. The airline reported $0.15 EPS for the quarter, topping the consensus estimate of $0.05 by $0.10. Southwest Airlines had a negative net margin of 0.06% and a positive return on equity of 4.56%. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.77 billion. During the same period last year, the business earned $0.38 EPS. Southwest Airlines’s revenue for the quarter was up 5.3% compared to the same quarter last year. Research analysts expect that Southwest Airlines Co. will post 0.75 earnings per share for the current fiscal year.

Southwest Airlines Profile

Southwest Airlines Co operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; and served 121 destinations in 42 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.