Traders Sell Shares of Southwest Airlines Co. (LUV) on Strength (LUV)
Investors sold shares of Southwest Airlines Co. (NYSE:LUV) on strength during trading on Thursday. $42.79 million flowed into the stock on the tick-up and $70.16 million flowed out of the stock on the tick-down, for a money net flow of $27.37 million out of the stock. Of all equities tracked, Southwest Airlines had the 11th highest net out-flow for the day. Southwest Airlines traded up $0.54 for the day and closed at $36.42
A number of brokerages recently issued reports on LUV. Vetr upgraded shares of Southwest Airlines from a “buy” rating to a “strong-buy” rating and set a $49.09 target price for the company in a research report on Wednesday, April 6th. Evercore ISI raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and cut their price target for the company from $47.00 to $37.36 in a report on Tuesday, July 26th. Barclays PLC raised shares of Southwest Airlines from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $41.00 to $48.00 in a report on Thursday, April 14th. Sterne Agee CRT reissued a “buy” rating on shares of Southwest Airlines in a report on Monday, May 16th. Finally, Credit Suisse Group AG reissued an “outperform” rating and issued a $48.00 price target on shares of Southwest Airlines in a report on Monday, July 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $49.51.
The stock has a market cap of $22.59 billion and a PE ratio of 9.66. The company has a 50-day moving average price of $39.34 and a 200-day moving average price of $41.38.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, July 21st. The airline reported $1.19 EPS for the quarter, missing the Zacks’ consensus estimate of $1.21 by $0.02. During the same period last year, the firm posted $1.03 EPS. The company earned $5.38 billion during the quarter, compared to analysts’ expectations of $5.41 billion. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts expect that Southwest Airlines Co. will post $3.84 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Thursday, August 18th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $0.40 dividend on an annualized basis and a yield of 1.10%.
In other Southwest Airlines news, EVP Jeff Lamb sold 18,765 shares of the firm’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $41.79, for a total transaction of $784,189.35. Following the transaction, the executive vice president now owns 150,487 shares in the company, valued at $6,288,851.73. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John T. Montford sold 1,210 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $43.31, for a total value of $52,405.10. Following the transaction, the director now owns 27,155 shares in the company, valued at approximately $1,176,083.05. The disclosure for this sale can be found here.
A number of institutional investors recently modified their holdings of the company. BlackRock Advisors LLC boosted its position in shares of Southwest Airlines by 19.8% in the fourth quarter. BlackRock Advisors LLC now owns 3,788,715 shares of the airline’s stock worth $163,142,000 after buying an additional 626,035 shares during the period. KBC Group NV boosted its position in shares of Southwest Airlines by 8.3% in the fourth quarter. KBC Group NV now owns 282,545 shares of the airline’s stock worth $12,167,000 after buying an additional 21,720 shares during the period. State of Tennessee Treasury Department boosted its position in shares of Southwest Airlines by 87.1% in the fourth quarter. State of Tennessee Treasury Department now owns 1,240,247 shares of the airline’s stock worth $53,405,000 after buying an additional 577,482 shares during the period. Gluskin Sheff & Assoc Inc. bought a new position in shares of Southwest Airlines during the fourth quarter worth about $1,615,000. Finally, Redwood Investments LLC boosted its position in shares of Southwest Airlines by 172.5% in the fourth quarter. Redwood Investments LLC now owns 118,498 shares of the airline’s stock worth $5,103,000 after buying an additional 75,007 shares during the period.
Southwest Airlines Co (Southwest) operates Southwest Airlines. Southwest is a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company serves approximately 100 destinations in over 40 states, such as the District of Columbia, the Commonwealth of Puerto Rico, and approximately seven near-international countries, including Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, and Belize.
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