Russell Investments Group Ltd. Sells 74,405 Shares of Southwest Airlines Co (NYSE:LUV)

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Russell Investments Group Ltd. cut its holdings in shares of Southwest Airlines Co (NYSE:LUV) by 21.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 267,159 shares of the airline’s stock after selling 74,405 shares during the period. Russell Investments Group Ltd. owned approximately 0.05% of Southwest Airlines worth $9,496,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Boston Partners lifted its holdings in Southwest Airlines by 2.8% during the fourth quarter. Boston Partners now owns 9,623,976 shares of the airline’s stock worth $519,561,000 after acquiring an additional 258,793 shares in the last quarter. Parnassus Investments CA bought a new position in Southwest Airlines during the first quarter worth about $188,169,000. FMR LLC lifted its holdings in Southwest Airlines by 1.1% during the fourth quarter. FMR LLC now owns 5,167,458 shares of the airline’s stock worth $278,940,000 after acquiring an additional 58,150 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Southwest Airlines by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 5,138,691 shares of the airline’s stock valued at $182,989,000 after purchasing an additional 77,258 shares in the last quarter. Finally, Provident Trust Co. lifted its holdings in shares of Southwest Airlines by 5.7% in the fourth quarter. Provident Trust Co. now owns 4,363,608 shares of the airline’s stock valued at $235,548,000 after purchasing an additional 234,583 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

A number of brokerages have recently commented on LUV. Barclays restated a “hold” rating on shares of Southwest Airlines in a report on Tuesday, March 24th. TheStreet lowered Southwest Airlines from a “b” rating to a “c+” rating in a report on Tuesday, March 3rd. Evercore ISI upgraded Southwest Airlines from an “in-line” rating to an “outperform” rating and set a $55.00 price target on the stock in a report on Monday, March 2nd. Raymond James upgraded Southwest Airlines from a “market perform” rating to a “strong-buy” rating and set a $50.00 price target on the stock in a report on Monday, March 23rd. Finally, Susquehanna Bancshares upgraded Southwest Airlines from a “neutral” rating to a “positive” rating and set a $41.00 price target on the stock in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Southwest Airlines has a consensus rating of “Hold” and an average target price of $51.33.

LUV opened at $29.60 on Friday. The business’s 50-day simple moving average is $29.87 and its 200 day simple moving average is $46.91. The firm has a market capitalization of $14.83 billion, a PE ratio of 8.50 and a beta of 1.27. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.64 and a current ratio of 0.69. Southwest Airlines Co has a 52-week low of $22.47 and a 52-week high of $58.83.

Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Tuesday, April 28th. The airline reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.33. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.55 billion. Southwest Airlines had a return on equity of 18.92% and a net margin of 8.46%. The business’s revenue was down 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.70 earnings per share. On average, research analysts forecast that Southwest Airlines Co will post -4.41 earnings per share for the current year.

In other Southwest Airlines news, major shareholder Berkshire Hathaway Inc sold 1,076,267 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $32.67, for a total transaction of $35,161,642.89. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.28% of the stock is owned by insiders.

Southwest Airlines 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, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 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.

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Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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