Southwest Airlines Co. (NYSE:LUV) Sees Large Decline in Short Interest

Southwest Airlines Co. (NYSE:LUVGet Rating) was the recipient of a large decrease in short interest during the month of July. As of July 15th, there was short interest totalling 10,210,000 shares, a decrease of 15.3% from the June 30th total of 12,050,000 shares. Currently, 1.7% of the shares of the company are short sold. Based on an average daily volume of 5,620,000 shares, the days-to-cover ratio is presently 1.8 days.

Insider Activity

In other news, Director John T. Montford sold 2,300 shares of the company’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $45.70, for a total transaction of $105,110.00. Following the completion of the sale, the director now owns 23,296 shares of the company’s stock, valued at approximately $1,064,627.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LUV. Oldfield Partners LLP bought a new stake in Southwest Airlines in the first quarter worth $107,911,000. Scout Investments Inc. bought a new stake in Southwest Airlines in the first quarter worth $92,502,000. Vanguard Group Inc. lifted its position in Southwest Airlines by 2.0% in the first quarter. Vanguard Group Inc. now owns 63,028,745 shares of the airline’s stock worth $2,886,717,000 after buying an additional 1,213,767 shares during the last quarter. Renaissance Technologies LLC lifted its position in Southwest Airlines by 39.4% in the fourth quarter. Renaissance Technologies LLC now owns 2,815,980 shares of the airline’s stock worth $120,637,000 after buying an additional 795,400 shares during the last quarter. Finally, Ruffer LLP bought a new stake in Southwest Airlines in the fourth quarter worth $32,581,000. 76.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LUV has been the subject of several research reports. Susquehanna Bancshares raised shares of Southwest Airlines from a “neutral” rating to a “positive” rating and set a $45.00 price target for the company in a research report on Tuesday, July 12th. Barclays reduced their target price on shares of Southwest Airlines from $58.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, June 23rd. JPMorgan Chase & Co. increased their target price on shares of Southwest Airlines from $62.00 to $72.00 in a report on Friday, April 29th. Raymond James reissued a “maintains” rating on shares of Southwest Airlines in a report on Friday, July 29th. Finally, Morgan Stanley reissued a “maintains” rating on shares of Southwest Airlines in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.56.

Southwest Airlines Stock Down 1.8 %

NYSE LUV opened at $37.62 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.59 and a current ratio of 1.66. The company has a market capitalization of $22.31 billion, a P/E ratio of 23.96, a P/E/G ratio of 2.34 and a beta of 1.00. Southwest Airlines has a one year low of $34.36 and a one year high of $56.33. The stock has a 50 day moving average price of $39.41 and a 200-day moving average price of $42.61.

Southwest Airlines (NYSE:LUVGet Rating) last posted its earnings results on Thursday, July 28th. The airline reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.39. The firm had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.69 billion. Southwest Airlines had a return on equity of 5.54% and a net margin of 4.71%. The company’s quarterly revenue was up 67.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.35) EPS. As a group, equities analysts predict that Southwest Airlines will post 2.71 EPS for the current fiscal year.

About Southwest Airlines

(Get Rating)

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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