Campbell & CO Investment Adviser LLC bought a new stake in Southwest Airlines Co. (NYSE:LUV) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 33,800 shares of the airline’s stock, valued at approximately $1,794,000. Southwest Airlines comprises 0.7% of Campbell & CO Investment Adviser LLC’s investment portfolio, making the stock its 7th largest position.
Other institutional investors have also recently bought and sold shares of the company. Brookfield Asset Management Inc. purchased a new stake in shares of Southwest Airlines in the 1st quarter valued at about $1,484,000. Advisor Partners LLC lifted its holdings in shares of Southwest Airlines by 14.5% in the 1st quarter. Advisor Partners LLC now owns 18,655 shares of the airline’s stock valued at $1,139,000 after purchasing an additional 2,356 shares during the last quarter. TownSquare Capital LLC lifted its holdings in shares of Southwest Airlines by 170.7% in the 1st quarter. TownSquare Capital LLC now owns 20,250 shares of the airline’s stock valued at $1,236,000 after purchasing an additional 12,770 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Southwest Airlines by 3.4% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 141,884 shares of the airline’s stock valued at $7,532,000 after purchasing an additional 4,709 shares during the last quarter. Finally, Consolidated Capital Management LLC lifted its holdings in shares of Southwest Airlines by 2.9% in the 2nd quarter. Consolidated Capital Management LLC now owns 127,949 shares of the airline’s stock valued at $6,793,000 after purchasing an additional 3,574 shares during the last quarter. 77.30% of the stock is owned by institutional investors and hedge funds.
Several analysts have commented on the company. Citigroup reduced their price objective on Southwest Airlines from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Wednesday. Evercore ISI reduced their price objective on Southwest Airlines from $70.00 to $62.00 and set an “outperform” rating for the company in a research note on Friday, September 10th. Morgan Stanley reduced their price objective on Southwest Airlines from $80.00 to $76.00 and set an “overweight” rating for the company in a research note on Tuesday, September 14th. MKM Partners reduced their price objective on Southwest Airlines from $74.00 to $67.00 and set a “buy” rating for the company in a research note on Friday, July 23rd. Finally, Zacks Investment Research raised Southwest Airlines from a “sell” rating to a “hold” rating and set a $52.00 price objective for the company in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Southwest Airlines currently has an average rating of “Buy” and a consensus price target of $59.28.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Wednesday, July 21st. The airline reported ($0.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.12). The business had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Southwest Airlines had a negative net margin of 16.23% and a negative return on equity of 33.72%. Southwest Airlines’s revenue for the quarter was up 297.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.67) EPS. Sell-side analysts anticipate that Southwest Airlines Co. will post -1.55 earnings per share for the current fiscal year.
Southwest Airlines Company Profile
Southwest Airlines Co engages in the management of a passenger airline. It offers ancillary services such as earlybird check-in, upgraded boarding, and transportation of pets and unaccompanied minors. The firm operates in U.S. states, District of Columbia, the Commonwealth of Puerto Rico, Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.
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