Oxinas Partners Wealth Management LLC Cuts Stake in Southwest Airlines Co. (NYSE:LUV)

Oxinas Partners Wealth Management LLC lowered its holdings in shares of Southwest Airlines Co. (NYSE:LUV) by 7.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,450 shares of the airline’s stock after selling 978 shares during the quarter. Oxinas Partners Wealth Management LLC’s holdings in Southwest Airlines were worth $339,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Clearbridge Investments LLC bought a new stake in shares of Southwest Airlines in the 2nd quarter valued at approximately $609,000. Czech National Bank lifted its stake in shares of Southwest Airlines by 0.6% in the 1st quarter. Czech National Bank now owns 104,990 shares of the airline’s stock valued at $3,065,000 after purchasing an additional 585 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Southwest Airlines by 14.6% in the 1st quarter. GAMMA Investing LLC now owns 4,680 shares of the airline’s stock valued at $137,000 after purchasing an additional 595 shares during the last quarter. Polianta Ltd bought a new stake in shares of Southwest Airlines during the 1st quarter worth approximately $1,223,000. Finally, Tidal Investments LLC lifted its stake in shares of Southwest Airlines by 26.0% during the 1st quarter. Tidal Investments LLC now owns 100,351 shares of the airline’s stock worth $2,931,000 after acquiring an additional 20,694 shares during the last quarter. Hedge funds and other institutional investors own 80.82% of the company’s stock.

Southwest Airlines Stock Up 0.4 %

Shares of Southwest Airlines stock traded up $0.13 during trading on Tuesday, reaching $30.50. The company’s stock had a trading volume of 5,409,944 shares, compared to its average volume of 9,444,188. The company has a quick ratio of 0.85, a current ratio of 0.90 and a debt-to-equity ratio of 0.48. The company has a market cap of $18.25 billion, a price-to-earnings ratio of 48.41, a P/E/G ratio of 12.06 and a beta of 1.17. Southwest Airlines Co. has a 1-year low of $21.91 and a 1-year high of $35.18. The company has a 50-day simple moving average of $28.50 and a two-hundred day simple moving average of $28.00.

Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, July 25th. The airline reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.07. The firm had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $7.32 billion. Southwest Airlines had a return on equity of 5.92% and a net margin of 0.41%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.09 EPS. As a group, equities analysts forecast that Southwest Airlines Co. will post 0.54 earnings per share for the current year.

Southwest Airlines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, September 4th. This represents a $0.72 dividend on an annualized basis and a yield of 2.36%. Southwest Airlines’s dividend payout ratio is currently 114.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on LUV shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $29.00 price target (down from $32.00) on shares of Southwest Airlines in a research note on Friday, July 26th. TD Cowen raised their price target on Southwest Airlines from $19.00 to $25.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Barclays raised their price target on Southwest Airlines from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Jefferies Financial Group raised Southwest Airlines from an “underperform” rating to a “hold” rating and raised their price target for the stock from $24.00 to $32.00 in a research note on Wednesday, October 9th. Finally, Susquehanna raised their price objective on Southwest Airlines from $25.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Southwest Airlines currently has a consensus rating of “Hold” and an average price target of $30.33.

Insiders Place Their Bets

In other news, Director Rakesh Gangwal purchased 643,788 shares of the stock in a transaction on Tuesday, October 1st. The stock was bought at an average price of $29.98 per share, with a total value of $19,300,764.24. Following the transaction, the director now owns 3,606,311 shares in the company, valued at $108,117,203.78. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by insiders.

About Southwest Airlines

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.