Traders Buy Shares of Southwest Airlines Co. (LUV) on Weakness
Traders purchased shares of Southwest Airlines Co. (NYSE:LUV) on weakness during trading hours on Thursday. $102.81 million flowed into the stock on the tick-up and $31.44 million flowed out of the stock on the tick-down, for a money net flow of $71.37 million into the stock. Of all companies tracked, Southwest Airlines had the 12th highest net in-flow for the day. Southwest Airlines traded down ($0.30) for the day and closed at $36.88
LUV has been the subject of a number of analyst reports. Cowen and Company restated a “buy” rating on shares of Southwest Airlines in a research report on Sunday, June 26th. Deutsche Bank AG restated a “buy” rating and issued a $57.00 price target on shares of Southwest Airlines in a research report on Saturday, June 25th. Vetr lowered Southwest Airlines from a “strong-buy” rating to a “buy” rating and set a $48.33 price target for the company. in a research report on Wednesday, June 8th. Sterne Agee CRT reiterated a “buy” rating on shares of Southwest Airlines in a report on Monday, May 16th. Finally, Evercore ISI upgraded Southwest Airlines from a “hold” rating to a “buy” rating and decreased their price objective for the company from $47.00 to $37.36 in a report on Tuesday, July 26th. One equities 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. The company currently has an average rating of “Buy” and an average target price of $48.94.
The stock’s 50 day moving average is $37.58 and its 200 day moving average is $41.29. The company has a market cap of $22.88 billion and a price-to-earnings ratio of 9.79.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, July 21st. The airline reported $1.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.21 by $0.02. During the same period last year, the business posted $1.03 earnings per share. The firm had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.41 billion. Southwest Airlines’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities analysts anticipate that Southwest Airlines Co. will post $3.81 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.08%.
In other news, insider Gary C. Kelly bought 28,106 shares of the stock in a transaction on Tuesday, August 2nd. The stock was purchased at an average cost of $35.58 per share, with a total value of $1,000,011.48. Following the purchase, the insider now owns 505,119 shares of the company’s stock, valued at $17,972,134.02. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO De Ven Michael G. Van bought 4,200 shares of the stock in a transaction on Wednesday, August 3rd. The stock was purchased at an average cost of $35.77 per share, with a total value of $150,234.00. Following the completion of the purchase, the chief operating officer now directly owns 183,245 shares in the company, valued at approximately $6,554,673.65. The disclosure for this purchase can be found here.
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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