Koshinski Asset Management Inc. lifted its stake in Southwest Airlines Co. (NYSE:LUV – Get Rating) by 10.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,933 shares of the airline’s stock after acquiring an additional 936 shares during the period. Koshinski Asset Management Inc.’s holdings in Southwest Airlines were worth $359,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Oldfield Partners LLP purchased a new stake in shares of Southwest Airlines during the first quarter valued at about $107,911,000. Scout Investments Inc. purchased a new stake in Southwest Airlines during the first quarter valued at approximately $92,502,000. Vanguard Group Inc. boosted its stake in Southwest Airlines by 2.0% in the first quarter. Vanguard Group Inc. now owns 63,028,745 shares of the airline’s stock valued at $2,886,717,000 after acquiring an additional 1,213,767 shares in the last quarter. Interval Partners LP purchased a new position in Southwest Airlines in the first quarter worth $28,509,000. Finally, Carmignac Gestion acquired a new position in shares of Southwest Airlines during the first quarter worth $25,462,000. 76.40% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on LUV shares. Cowen dropped their target price on Southwest Airlines from $67.00 to $55.00 in a research note on Friday, July 29th. Susquehanna upgraded shares of Southwest Airlines from a “neutral” rating to a “positive” rating and set a $45.00 target price for the company in a research note on Tuesday, July 12th. Barclays cut 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 note on Thursday, June 23rd. Susquehanna Bancshares 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. Finally, Melius began coverage on Southwest Airlines in a research report on Monday, August 15th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.06.
Southwest Airlines Stock Down 3.3 %
Southwest Airlines (NYSE:LUV – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The airline reported $1.30 EPS for the quarter, beating the consensus estimate 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 firm’s 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. Equities analysts forecast that Southwest Airlines Co. will post 2.14 earnings per share for the current fiscal year.
Southwest Airlines Company Profile
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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