Bryce Point Capital LLC Sells 1,785 Shares of Southwest Airlines Co. $LUV

Bryce Point Capital LLC lessened its holdings in shares of Southwest Airlines Co. (NYSE:LUV) by 8.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,730 shares of the airline’s stock after selling 1,785 shares during the quarter. Bryce Point Capital LLC’s holdings in Southwest Airlines were worth $640,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Primecap Management Co. CA increased its holdings in shares of Southwest Airlines by 1.6% in the first quarter. Primecap Management Co. CA now owns 49,688,308 shares of the airline’s stock worth $1,668,533,000 after acquiring an additional 788,255 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Southwest Airlines by 3.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,602,939 shares of the airline’s stock valued at $120,987,000 after purchasing an additional 136,410 shares in the last quarter. Sound Shore Management Inc. CT grew its position in shares of Southwest Airlines by 12.7% in the 1st quarter. Sound Shore Management Inc. CT now owns 2,857,308 shares of the airline’s stock valued at $95,948,000 after purchasing an additional 321,258 shares during the period. Alyeska Investment Group L.P. bought a new stake in Southwest Airlines during the 1st quarter worth approximately $56,244,000. Finally, Nuveen LLC acquired a new stake in Southwest Airlines during the 1st quarter worth approximately $50,433,000. 80.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LUV has been the topic of a number of research reports. Wall Street Zen raised shares of Southwest Airlines from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Hsbc Global Res upgraded shares of Southwest Airlines to a “moderate sell” rating in a report on Thursday, July 24th. Barclays boosted their price objective on shares of Southwest Airlines from $26.00 to $34.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Jefferies Financial Group increased their target price on Southwest Airlines from $30.00 to $31.00 and gave the stock a “hold” rating in a report on Wednesday, October 1st. Finally, UBS Group dropped their price target on Southwest Airlines from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $33.38.

Southwest Airlines Stock Down 2.6%

Southwest Airlines stock opened at $29.65 on Wednesday. The company has a current ratio of 0.49, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. Southwest Airlines Co. has a 1-year low of $23.82 and a 1-year high of $37.96. The company has a fifty day simple moving average of $32.18 and a 200 day simple moving average of $32.00. The company has a market cap of $15.34 billion, a P/E ratio of 45.62, a price-to-earnings-growth ratio of 0.75 and a beta of 1.21.

Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Tuesday, February 6th. The airline reported ($0.38) EPS for the quarter. The business had revenue of $6.17 billion for the quarter. Southwest Airlines had a return on equity of 6.39% and a net margin of 1.38%. Research analysts anticipate that Southwest Airlines Co. will post 1.55 earnings per share for the current fiscal year.

Southwest Airlines announced that its Board of Directors has initiated a share repurchase program on Wednesday, July 23rd that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the airline to reacquire up to 9.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Southwest Airlines Company 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.