Moody National Bank Trust Division lifted its stake in shares of Southwest Airlines Co. (NYSE:LUV – Get Rating) by 60.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,633 shares of the airline’s stock after purchasing an additional 5,920 shares during the quarter. Moody National Bank Trust Division’s holdings in Southwest Airlines were worth $565,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Atticus Wealth Management LLC raised its position in Southwest Airlines by 78.9% in the first quarter. Atticus Wealth Management LLC now owns 567 shares of the airline’s stock worth $26,000 after acquiring an additional 250 shares in the last quarter. Cornerstone Advisory LLC bought a new stake in Southwest Airlines in the fourth quarter worth about $27,000. Tcwp LLC bought a new stake in Southwest Airlines in the first quarter worth about $27,000. Samalin Investment Counsel LLC raised its position in Southwest Airlines by 247.5% in the first quarter. Samalin Investment Counsel LLC now owns 702 shares of the airline’s stock worth $32,000 after acquiring an additional 500 shares in the last quarter. Finally, MCF Advisors LLC bought a new stake in Southwest Airlines in the first quarter worth about $33,000. 76.40% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have commented on LUV. Argus cut shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Monday, August 15th. Morgan Stanley dropped their price target on shares of Southwest Airlines from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 2nd. Barclays dropped their price target on shares of Southwest Airlines from $58.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, June 23rd. Melius started coverage on Southwest Airlines in a research note on Monday, August 15th. They issued a “buy” rating on the stock. Finally, Susquehanna raised Southwest Airlines from a “neutral” rating to a “positive” rating and set a $45.00 price target on the stock in a research note on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.06.
Southwest Airlines Trading Down 5.9 %
Southwest Airlines (NYSE:LUV – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The airline reported $1.30 EPS for the quarter, beating the consensus estimate of $0.91 by $0.39. The business had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.69 billion. Southwest Airlines had a return on equity of 5.54% and a net margin of 4.71%. The firm’s quarterly revenue was up 67.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.35) EPS. On average, research analysts predict that Southwest Airlines Co. will post 2.14 earnings per share for the current fiscal year.
About Southwest Airlines
Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2021, the company operated a total fleet of 728 Boeing 737 aircrafts; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.
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