AlphaCore Capital LLC Buys New Stake in Southwest Airlines Co. (NYSE:LUV)

AlphaCore Capital LLC purchased a new position in Southwest Airlines Co. (NYSE:LUV) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,404 shares of the airline’s stock, valued at approximately $306,000.

A number of other hedge funds also recently bought and sold shares of LUV. Samalin Investment Counsel LLC raised its position in shares of Southwest Airlines by 247.5% during the 1st quarter. Samalin Investment Counsel LLC now owns 702 shares of the airline’s stock valued at $32,000 after buying an additional 500 shares in the last quarter. Pacific Center for Financial Services bought a new stake in Southwest Airlines in the first quarter worth about $33,000. Raleigh Capital Management Inc. boosted its holdings in Southwest Airlines by 279.2% during the 2nd quarter. Raleigh Capital Management Inc. now owns 948 shares of the airline’s stock valued at $34,000 after acquiring an additional 698 shares during the period. True Wealth Design LLC purchased a new stake in shares of Southwest Airlines during the fourth quarter valued at $38,000. Finally, ICA Group Wealth Management LLC bought a new position in Southwest Airlines in the 4th quarter worth about $42,000. Hedge funds and other institutional investors own 78.22% of the company’s stock.

Southwest Airlines Trading Up 5.2 %

Shares of Southwest Airlines stock opened at $24.30 on Wednesday. Southwest Airlines Co. has a fifty-two week low of $21.91 and a fifty-two week high of $40.38. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.14 and a current ratio of 1.21. The company has a market cap of $14.49 billion, a P/E ratio of 32.40, a price-to-earnings-growth ratio of 0.99 and a beta of 1.16. The firm has a 50-day simple moving average of $26.00 and a two-hundred day simple moving average of $30.39.

Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, October 26th. The airline reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. Southwest Airlines had a return on equity of 5.08% and a net margin of 1.95%. The business had revenue of $6.53 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same period in the previous year, the business earned $0.50 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts predict that Southwest Airlines Co. will post 1.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on LUV. Morgan Stanley reduced their price objective on Southwest Airlines from $50.00 to $47.00 and set an “overweight” rating on the stock in a report on Tuesday, October 31st. The Goldman Sachs Group reduced their target price on shares of Southwest Airlines from $34.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, August 17th. Barclays lowered their target price on shares of Southwest Airlines from $34.00 to $27.00 in a research note on Thursday, October 5th. BNP Paribas lowered Southwest Airlines from a “neutral” rating to an “underperform” rating and set a $20.00 price target on the stock. in a research note on Friday, November 10th. Finally, Redburn Partners downgraded Southwest Airlines from a “neutral” rating to a “sell” rating and set a $27.00 target price on the stock. in a research report on Monday, August 7th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Southwest Airlines presently has an average rating of “Hold” and an average target price of $32.06.

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, 2022, the company operated a total fleet of 770 Boeing 737 aircrafts; 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.