Scott & Selber Inc. Invests $2,862,000 in Southwest Airlines Co. (LUV)
Scott & Selber Inc. purchased a new stake in shares of Southwest Airlines Co. (NYSE:LUV) during the second quarter, Holdings Channel reports. The fund purchased 72,986 shares of the airline’s stock, valued at approximately $2,862,000. Southwest Airlines makes up approximately 1.9% of Scott & Selber Inc.’s portfolio, making the stock its 24th largest position.
Several other institutional investors also recently made changes to their positions in LUV. Strs Ohio boosted its position in shares of Southwest Airlines by 393.0% in the second quarter. Strs Ohio now owns 776,030 shares of the airline’s stock valued at $30,428,000 after buying an additional 618,608 shares in the last quarter. Calamos Advisors LLC boosted its position in shares of Southwest Airlines by 15.9% in the second quarter. Calamos Advisors LLC now owns 1,242,786 shares of the airline’s stock valued at $48,730,000 after buying an additional 170,752 shares in the last quarter. First Republic Investment Management Inc. boosted its position in shares of Southwest Airlines by 97.8% in the first quarter. First Republic Investment Management Inc. now owns 1,151,824 shares of the airline’s stock valued at $51,602,000 after buying an additional 569,576 shares in the last quarter. Capital Fund Management S.A. boosted its position in shares of Southwest Airlines by 472.4% in the second quarter. Capital Fund Management S.A. now owns 1,718,192 shares of the airline’s stock valued at $67,370,000 after buying an additional 1,418,012 shares in the last quarter. Finally, Anchor Bolt Capital LP boosted its position in shares of Southwest Airlines by 2.5% in the first quarter. Anchor Bolt Capital LP now owns 4,100,671 shares of the airline’s stock valued at $183,710,000 after buying an additional 99,921 shares in the last quarter. Institutional investors own 78.37% of the company’s stock.
Shares of Southwest Airlines Co. (NYSE:LUV) traded up 1.07% during mid-day trading on Tuesday, reaching $41.68. 8,712,118 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $38.16 and its 200-day moving average price is $40.37. The company has a market capitalization of $25.85 billion, a PE ratio of 11.06 and a beta of 0.79. Southwest Airlines Co. has a one year low of $33.96 and a one year high of $51.34.
Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, July 21st. The airline reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by $0.02. The business had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.41 billion. Southwest Airlines had a net margin of 11.95% and a return on equity of 34.25%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the business posted $1.03 EPS. On average, equities analysts expect that Southwest Airlines Co. will post $3.78 earnings per share for the current year.
Several equities analysts recently issued reports on LUV shares. Vetr upgraded shares of Southwest Airlines from a “buy” rating to a “strong-buy” rating and set a $43.50 price target on the stock in a research report on Wednesday, September 28th. Deutsche Bank AG reissued a “buy” rating and set a $57.00 price objective on shares of Southwest Airlines in a research note on Saturday, June 25th. Credit Suisse Group AG set a $48.00 price objective on shares of Southwest Airlines and gave the stock a “buy” rating in a research note on Monday, September 12th. Imperial Capital initiated coverage on shares of Southwest Airlines in a research note on Friday, September 9th. They set an “outperform” rating and a $46.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research note on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $48.36.
In other news, Director William H. Dr Cunningham purchased 5,700 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average cost of $35.80 per share, for a total transaction of $204,060.00. Following the acquisition, the director now owns 56,283 shares of the company’s stock, valued at $2,014,931.40. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Mark R. Shaw sold 1,776 shares of the firm’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $37.62, for a total transaction of $66,813.12. Following the completion of the sale, the senior vice president now owns 5,226 shares in the company, valued at $196,602.12. The disclosure for this sale can be found here. Company 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.
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