Cypress Capital Management LLC WY Purchases Shares of 9,003 Southwest Airlines Co. (LUV)
Cypress Capital Management LLC WY acquired a new position in shares of Southwest Airlines Co. (NYSE:LUV) during the second quarter, Holdings Channel reports. The firm acquired 9,003 shares of the airline’s stock, valued at approximately $353,000.
Several other hedge funds also recently bought and sold shares of the stock. Quadrant Capital Group LLC raised its stake in Southwest Airlines by 2.0% in the second quarter. Quadrant Capital Group LLC now owns 3,540 shares of the airline’s stock worth $134,000 after buying an additional 70 shares during the last quarter. Huntington National Bank raised its stake in Southwest Airlines by 40.3% in the second quarter. Huntington National Bank now owns 4,365 shares of the airline’s stock worth $171,000 after buying an additional 1,254 shares during the last quarter. Markston International LLC bought a new stake in Southwest Airlines during the second quarter worth approximately $196,000. Checchi Capital Advisers LLC raised its stake in Southwest Airlines by 3.4% in the second quarter. Checchi Capital Advisers LLC now owns 6,071 shares of the airline’s stock worth $238,000 after buying an additional 202 shares during the last quarter. Finally, Pitcairn Co. raised its stake in Southwest Airlines by 2.8% in the second quarter. Pitcairn Co. now owns 6,071 shares of the airline’s stock worth $238,000 after buying an additional 165 shares during the last quarter. 78.37% of the stock is currently owned by institutional investors and hedge funds.
Shares of Southwest Airlines Co. (NYSE:LUV) traded down 0.19% during midday trading on Monday, reaching $41.24. The company’s stock had a trading volume of 5,509,896 shares. The stock’s 50-day moving average is $38.16 and its 200 day moving average is $40.37. The stock has a market capitalization of $25.58 billion, a P/E ratio of 10.94 and a beta of 0.79. Southwest Airlines Co. has a 12 month low of $33.96 and a 12 month high of $51.34.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings results on Thursday, July 21st. The airline reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by $0.02. Southwest Airlines had a net margin of 11.95% and a return on equity of 34.25%. The business had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.41 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, analysts expect that Southwest Airlines Co. will post $3.78 earnings per share for the current fiscal year.
A number of analysts recently commented on LUV shares. Evercore ISI raised 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 research note on Tuesday, July 26th. Cowen and Company reaffirmed a “buy” rating on shares of Southwest Airlines in a research note on Sunday, June 26th. Deutsche Bank AG reaffirmed a “buy” rating and set a $57.00 price objective on shares of Southwest Airlines in a research note on Saturday, June 25th. Vetr upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research report on Tuesday, August 2nd. Finally, Credit Suisse Group AG set a $48.00 target price on Southwest Airlines and gave the stock a “buy” rating in a research report on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $48.36.
In other news, insider Gary C. Kelly bought 28,106 shares of the stock in a transaction on Tuesday, August 2nd. The shares were purchased at an average price of $35.58 per share, for a total transaction of $1,000,011.48. Following the completion of the purchase, the insider now directly owns 505,119 shares of the company’s stock, valued at approximately $17,972,134.02. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, SVP Mark R. Shaw sold 1,776 shares of the business’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $37.62, for a total value of $66,813.12. Following the completion of the transaction, the senior vice president now owns 5,226 shares in the company, valued at approximately $196,602.12. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.
Southwest Airlines Company Profile
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.
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 Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines Co. and related companies with MarketBeat.com's FREE daily email newsletter.