U S Global Investors Inc. Grows Position in Southwest Airlines Company (LUV)
U S Global Investors Inc. boosted its holdings in shares of Southwest Airlines Company (NYSE:LUV) by 63.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 245,443 shares of the airline’s stock after purchasing an additional 95,484 shares during the quarter. Southwest Airlines comprises about 4.7% of U S Global Investors Inc.’s investment portfolio, making the stock its 4th largest position. U S Global Investors Inc.’s holdings in Southwest Airlines were worth $13,703,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Macquarie Group Ltd. raised its stake in Southwest Airlines by 7.7% during the second quarter. Macquarie Group Ltd. now owns 216,819 shares of the airline’s stock valued at $13,472,000 after purchasing an additional 15,575 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Southwest Airlines by 2.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 466,121 shares of the airline’s stock valued at $28,965,000 after acquiring an additional 10,851 shares during the period. Columbus Circle Investors raised its stake in shares of Southwest Airlines by 28.2% in the second quarter. Columbus Circle Investors now owns 220,903 shares of the airline’s stock valued at $13,727,000 after acquiring an additional 48,632 shares during the period. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Southwest Airlines in the first quarter valued at $22,797,000. Finally, Marshall Wace North America L.P. raised its stake in shares of Southwest Airlines by 912.7% in the second quarter. Marshall Wace North America L.P. now owns 49,855 shares of the airline’s stock valued at $3,091,000 after acquiring an additional 44,932 shares during the period. 79.42% of the stock is currently owned by institutional investors.
In other Southwest Airlines news, Director William H. Dr Cunningham purchased 4,500 shares of the business’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $54.00 per share, for a total transaction of $243,000.00. Following the completion of the purchase, the director now directly owns 66,969 shares of the company’s stock, valued at $3,616,326. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is owned by corporate insiders.
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Shares of Southwest Airlines Company (NYSE LUV) traded up 0.53% on Friday, reaching $59.12. 3,138,689 shares of the company’s stock traded hands. Southwest Airlines Company has a 52 week low of $36.91 and a 52 week high of $64.39. The firm’s 50 day moving average is $54.94 and its 200 day moving average is $57.13. The firm has a market capitalization of $35.39 billion, a P/E ratio of 18.13 and a beta of 1.32.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, July 27th. The airline reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.73 billion. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. Southwest Airlines’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.19 EPS. Analysts expect that Southwest Airlines Company will post $3.62 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th were paid a dividend of $0.125 per share. The ex-dividend date was Tuesday, August 22nd. This represents a $0.50 dividend on an annualized basis and a yield of 0.85%. Southwest Airlines’s dividend payout ratio (DPR) is presently 15.34%.
Several brokerages have recently weighed in on LUV. Vetr downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating and set a $59.16 target price on the stock. in a research note on Wednesday, October 4th. Zacks Investment Research raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Tuesday, July 4th. BidaskClub downgraded shares of Southwest Airlines from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Argus raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and increased their target price for the company from $61.76 to $68.00 in a research note on Thursday, June 22nd. Finally, Wolfe Research raised shares of Southwest Airlines from a “market perform” rating to an “outperform” rating in a research note on Friday, August 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $66.95.
About Southwest Airlines
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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