Amalgamated Bank Cuts Stock Position in Southwest Airlines Co. (NYSE:LUV)

Amalgamated Bank lessened its stake in Southwest Airlines Co. (NYSE:LUVGet Rating) by 6.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 148,373 shares of the airline’s stock after selling 10,807 shares during the quarter. Amalgamated Bank’s holdings in Southwest Airlines were worth $6,795,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stelac Advisory Services LLC acquired a new position in shares of Southwest Airlines during the 1st quarter valued at about $152,000. J.W. Cole Advisors Inc. increased its stake in shares of Southwest Airlines by 42.4% during the first quarter. J.W. Cole Advisors Inc. now owns 20,268 shares of the airline’s stock worth $928,000 after buying an additional 6,038 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Southwest Airlines by 16.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 132,894 shares of the airline’s stock worth $6,086,000 after buying an additional 18,624 shares during the period. City State Bank increased its stake in Southwest Airlines by 43.2% in the first quarter. City State Bank now owns 2,985 shares of the airline’s stock valued at $137,000 after purchasing an additional 900 shares during the last quarter. Finally, WealthTrust Asset Management LLC increased its stake in Southwest Airlines by 4.7% in the first quarter. WealthTrust Asset Management LLC now owns 44,072 shares of the airline’s stock valued at $2,018,000 after purchasing an additional 1,965 shares during the last quarter. Hedge funds and other institutional investors own 76.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Barclays lowered their target price 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. Susquehanna upgraded shares of Southwest Airlines from a “neutral” rating to a “positive” rating and set a $45.00 price objective for the company in a research note on Tuesday, July 12th. Raymond James upgraded shares of Southwest Airlines from an “outperform” rating to a “strong-buy” rating and cut their target price for the stock from $57.00 to $55.00 in a research report on Thursday, June 23rd. Argus cut shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Monday, August 15th. Finally, Susquehanna Bancshares upgraded shares of Southwest Airlines from a “neutral” rating to a “positive” rating and set a $45.00 price target for the company in a report on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.06.

Southwest Airlines Stock Performance

Shares of NYSE LUV opened at $34.73 on Monday. Southwest Airlines Co. has a 52 week low of $34.36 and a 52 week high of $56.33. The firm has a market cap of $20.61 billion, a price-to-earnings ratio of 22.12, a P/E/G ratio of 2.68 and a beta of 0.99. 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 business’s 50-day simple moving average is $38.46 and its 200-day simple moving average is $41.05.

Southwest Airlines (NYSE:LUVGet Rating) last announced its earnings results on Thursday, July 28th. The airline reported $1.30 EPS for the quarter, topping the consensus estimate of $0.91 by $0.39. Southwest Airlines had a net margin of 4.71% and a return on equity of 5.54%. The firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.69 billion. During the same quarter last year, the firm posted ($0.35) EPS. The business’s quarterly revenue was up 67.9% on a year-over-year basis. As a group, equities research analysts expect that Southwest Airlines Co. will post 2.14 earnings per share for the current fiscal year.

About Southwest Airlines

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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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Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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