Southwest Airlines Co. (NYSE:LUV – Get Free Report) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 41,650,000 shares, an increase of 29.1% from the February 13th total of 32,250,000 shares. Based on an average trading volume of 8,920,000 shares, the days-to-cover ratio is presently 4.7 days. Currently, 7.1% of the company’s stock are short sold.
Southwest Airlines Trading Up 2.0 %
NYSE LUV traded up $0.64 on Monday, hitting $32.37. 6,561,111 shares of the stock were exchanged, compared to its average volume of 8,949,955. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 0.92. The stock has a fifty day moving average price of $31.12 and a two-hundred day moving average price of $31.24. The firm has a market capitalization of $19.18 billion, a P/E ratio of 44.96, a P/E/G ratio of 0.97 and a beta of 1.10. Southwest Airlines has a 52-week low of $23.58 and a 52-week high of $36.12.
Southwest Airlines (NYSE:LUV – Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The airline reported $0.56 EPS for the quarter, topping the consensus estimate of $0.45 by $0.11. Southwest Airlines had a net margin of 1.69% and a return on equity of 5.77%. Research analysts forecast that Southwest Airlines will post 1.55 EPS for the current fiscal year.
Southwest Airlines Dividend Announcement
Insider Buying and Selling
In other Southwest Airlines news, Director C. David Cush purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average cost of $30.03 per share, for a total transaction of $150,150.00. Following the purchase, the director now directly owns 19,011 shares in the company, valued at $570,900.33. The trade was a 35.69 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by company insiders.
Institutional Trading of Southwest Airlines
Large investors have recently made changes to their positions in the stock. Kestra Investment Management LLC purchased a new stake in shares of Southwest Airlines during the fourth quarter valued at $26,000. Raleigh Capital Management Inc. raised its holdings in shares of Southwest Airlines by 186.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 883 shares of the airline’s stock valued at $30,000 after acquiring an additional 575 shares in the last quarter. Sanctuary Wealth Management L.L.C. raised its holdings in shares of Southwest Airlines by 196.3% in the fourth quarter. Sanctuary Wealth Management L.L.C. now owns 889 shares of the airline’s stock valued at $30,000 after acquiring an additional 589 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Southwest Airlines by 41.1% in the third quarter. TD Private Client Wealth LLC now owns 1,184 shares of the airline’s stock valued at $35,000 after acquiring an additional 345 shares in the last quarter. Finally, VSM Wealth Advisory LLC bought a new stake in shares of Southwest Airlines in the fourth quarter valued at about $42,000. 80.82% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts recently commented on the stock. JPMorgan Chase & Co. reissued an “underweight” rating and set a $25.00 price objective on shares of Southwest Airlines in a research report on Monday, March 3rd. TD Cowen increased their price objective on shares of Southwest Airlines from $25.00 to $28.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Raymond James increased their price objective on shares of Southwest Airlines from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 30th. Bank of America reissued an “underperform” rating and set a $31.00 price objective (down from $33.00) on shares of Southwest Airlines in a research report on Friday, January 17th. Finally, UBS Group lifted their price objective on shares of Southwest Airlines from $27.00 to $29.00 and gave the company a “sell” rating in a research report on Tuesday, January 7th. Seven analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $31.72.
Get Our Latest Report on Southwest Airlines
Southwest Airlines Company Profile
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.
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