Atria Investments Inc Buys 5,450 Shares of Southwest Airlines Co. (NYSE:LUV)

Atria Investments Inc increased its position in shares of Southwest Airlines Co. (NYSE:LUV) by 30.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,351 shares of the airline’s stock after acquiring an additional 5,450 shares during the period. Atria Investments Inc’s holdings in Southwest Airlines were worth $692,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new stake in Southwest Airlines during the 2nd quarter worth approximately $29,000. CVA Family Office LLC increased its holdings in Southwest Airlines by 179.5% in the second quarter. CVA Family Office LLC now owns 1,034 shares of the airline’s stock valued at $30,000 after purchasing an additional 664 shares during the period. Innealta Capital LLC bought a new position in Southwest Airlines during the 2nd quarter worth $33,000. AM Squared Ltd acquired a new position in Southwest Airlines during the 2nd quarter worth about $37,000. Finally, Bank & Trust Co bought a new stake in shares of Southwest Airlines in the 2nd quarter valued at about $40,000. Institutional investors and hedge funds own 80.82% of the company’s stock.

Southwest Airlines Price Performance

Shares of LUV opened at $32.33 on Tuesday. The business’s fifty day moving average is $30.34 and its 200 day moving average is $28.51. Southwest Airlines Co. has a 12-month low of $23.58 and a 12-month high of $35.18. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.49. The stock has a market cap of $19.39 billion, a P/E ratio of -461.86, a P/E/G ratio of 7.62 and a beta of 1.15.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, October 24th. The airline reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.10. Southwest Airlines had a negative net margin of 0.06% and a positive return on equity of 4.56%. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.77 billion. During the same period last year, the firm earned $0.38 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Sell-side analysts anticipate that Southwest Airlines Co. will post 0.75 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Rakesh Gangwal bought 643,788 shares of the stock in a transaction dated Tuesday, October 1st. The stock was bought at an average price of $29.98 per share, for a total transaction of $19,300,764.24. Following the completion of the acquisition, the director now directly owns 3,606,311 shares in the company, valued at approximately $108,117,203.78. This trade represents a 21.73 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Elliott Investment Management sold 1,203,920 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $29.83, for a total transaction of $35,912,933.60. Following the transaction, the insider now directly owns 59,912,580 shares in the company, valued at $1,787,192,261.40. The trade was a 1.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LUV. Bank of America assumed coverage on Southwest Airlines in a research report on Monday, November 4th. They set a “neutral” rating and a $33.00 price objective for the company. Barclays boosted their price target on shares of Southwest Airlines from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. BNP Paribas upgraded shares of Southwest Airlines to a “strong sell” rating in a research report on Thursday, September 19th. The Goldman Sachs Group restated a “sell” rating and issued a $28.00 target price on shares of Southwest Airlines in a report on Friday. Finally, Susquehanna increased their price target on Southwest Airlines from $25.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $30.78.

About Southwest Airlines

Southwest Airlines Co operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.