Commerce Bank increased its position in shares of Southwest Airlines Co. (NYSE:LUV) by 48.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,044 shares of the airline’s stock after buying an additional 8,836 shares during the quarter. Commerce Bank’s holdings in Southwest Airlines were worth $1,014,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Aperio Group LLC raised its position in shares of Southwest Airlines by 6.6% during the 3rd quarter. Aperio Group LLC now owns 227,455 shares of the airline’s stock valued at $8,529,000 after buying an additional 14,182 shares during the period. Investment House LLC purchased a new stake in Southwest Airlines in the third quarter valued at approximately $1,269,000. Karani Asset Management LLC grew its stake in shares of Southwest Airlines by 21.5% in the third quarter. Karani Asset Management LLC now owns 18,283 shares of the airline’s stock worth $686,000 after acquiring an additional 3,230 shares in the last quarter. BFT Financial Group LLC acquired a new position in shares of Southwest Airlines in the third quarter worth $231,000. Finally, Blair William & Co. IL grew its stake in shares of Southwest Airlines by 3.8% during the third quarter. Blair William & Co. IL now owns 82,422 shares of the airline’s stock worth $3,091,000 after purchasing an additional 3,016 shares in the last quarter. 72.73% of the stock is currently owned by hedge funds and other institutional investors.
LUV stock opened at $45.60 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.01 and a current ratio of 2.07. The company’s 50-day simple moving average is $40.38 and its 200 day simple moving average is $35.60. Southwest Airlines Co. has a 52 week low of $22.47 and a 52 week high of $58.83. The company has a market capitalization of $26.92 billion, a PE ratio of -16.34 and a beta of 1.20.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, October 22nd. The airline reported ($1.99) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.35) by $0.36. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.71 billion. Southwest Airlines had a negative net margin of 12.94% and a negative return on equity of 22.65%. The business’s revenue for the quarter was down 68.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 earnings per share. On average, analysts forecast that Southwest Airlines Co. will post -6.67 EPS for the current year.
A number of brokerages have recently commented on LUV. JPMorgan Chase & Co. cut shares of Southwest Airlines from a “neutral” rating to an “underweight” rating and set a $41.00 target price for the company. in a report on Wednesday, October 7th. Smith Barney Citigroup lifted their price target on Southwest Airlines from $36.00 to $40.00 in a research note on Thursday, October 29th. Cowen lifted their price target on Southwest Airlines from $43.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, October 23rd. Berenberg Bank upgraded Southwest Airlines from a “hold” rating to a “buy” rating and boosted their target price for the stock from $37.00 to $45.00 in a research report on Wednesday, September 2nd. Finally, Jefferies Financial Group assumed coverage on Southwest Airlines in a research report on Tuesday. They set a “buy” rating and a $55.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. Southwest Airlines presently has an average rating of “Buy” and an average price target of $47.22.
Southwest Airlines Company Profile
Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2019, the company operated a total of 747 Boeing 737 aircraft; and served 101 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.
Featured Story: What does a neutral rating on stocks mean?
Want to see what other hedge funds are holding LUV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southwest Airlines Co. (NYSE:LUV).
Receive News & Ratings for Southwest Airlines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines and related companies with MarketBeat.com's FREE daily email newsletter.