BlueMountain Capital Management LLC Has $3.35 Million Stake in Southwest Airlines Company (LUV)
BlueMountain Capital Management LLC lifted its position in Southwest Airlines Company (NYSE:LUV) by 109.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,946 shares of the airline’s stock after acquiring an additional 28,133 shares during the period. BlueMountain Capital Management LLC’s holdings in Southwest Airlines were worth $3,352,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in LUV. Amalgamated Bank grew its position in Southwest Airlines by 39.8% during the second quarter. Amalgamated Bank now owns 67,156 shares of the airline’s stock valued at $4,173,000 after purchasing an additional 19,104 shares in the last quarter. Origin Asset Management LLP grew its position in Southwest Airlines by 11.3% during the second quarter. Origin Asset Management LLP now owns 265,549 shares of the airline’s stock valued at $16,501,000 after purchasing an additional 27,000 shares in the last quarter. Bridgewater Associates LP grew its position in Southwest Airlines by 214.2% during the second quarter. Bridgewater Associates LP now owns 167,833 shares of the airline’s stock valued at $10,429,000 after purchasing an additional 114,419 shares in the last quarter. Ameriprise Financial Inc. grew its position in Southwest Airlines by 13.1% during the second quarter. Ameriprise Financial Inc. now owns 8,836,067 shares of the airline’s stock valued at $549,016,000 after purchasing an additional 1,026,892 shares in the last quarter. Finally, Teachers Advisors LLC grew its position in Southwest Airlines by 1.7% during the second quarter. Teachers Advisors LLC now owns 1,096,668 shares of the airline’s stock valued at $68,147,000 after purchasing an additional 18,606 shares in the last quarter. 79.42% of the stock is currently owned by institutional investors and hedge funds.
Shares of Southwest Airlines Company (LUV) opened at 54.72 on Friday. The firm has a market capitalization of $32.75 billion, a PE ratio of 16.78 and a beta of 1.29. The stock has a 50 day moving average of $53.74 and a 200-day moving average of $56.91. Southwest Airlines Company has a 52 week low of $36.31 and a 52 week high of $64.39.
Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, July 27th. The airline reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The business had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same period last year, the business earned $1.19 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. Equities analysts anticipate that Southwest Airlines Company will post $3.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Thursday, August 24th were paid a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $0.50 annualized dividend and a dividend yield of 0.91%. Southwest Airlines’s dividend payout ratio is presently 15.34%.
LUV has been the topic of a number of research analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Southwest Airlines in a research report on Thursday, July 13th. BidaskClub downgraded shares of Southwest Airlines from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Vetr raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $64.21 price objective on the stock in a research report on Tuesday, June 27th. Finally, ValuEngine raised shares of Southwest Airlines from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Southwest Airlines presently has an average rating of “Buy” and a consensus price target of $67.77.
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In other news, Director William H. Dr Cunningham bought 4,500 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $54.00 per share, with a total value of $243,000.00. Following the completion of the purchase, the director now owns 66,969 shares of the company’s stock, valued at $3,616,326. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is currently owned by company insiders.
Southwest Airlines Profile
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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