Congress Park Capital LLC trimmed its holdings in Southwest Airlines Co (NYSE:LUV) by 9.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 11,613 shares of the airline’s stock after selling 1,252 shares during the period. Congress Park Capital LLC’s holdings in Southwest Airlines were worth $725,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LUV. ACG Wealth boosted its position in Southwest Airlines by 18.6% in the third quarter. ACG Wealth now owns 45,188 shares of the airline’s stock worth $2,822,000 after purchasing an additional 7,098 shares during the last quarter. Salem Investment Counselors Inc. boosted its position in Southwest Airlines by 3,172.6% in the second quarter. Salem Investment Counselors Inc. now owns 22,843 shares of the airline’s stock worth $1,162,000 after purchasing an additional 22,145 shares during the last quarter. Wills Financial Group Inc. purchased a new position in Southwest Airlines in the second quarter worth about $1,222,000. Independent Advisor Alliance purchased a new position in Southwest Airlines in the second quarter worth about $366,000. Finally, CSat Investment Advisory L.P. purchased a new position in Southwest Airlines in the second quarter worth about $1,177,000. Institutional investors own 77.98% of the company’s stock.
Several brokerages have issued reports on LUV. Imperial Capital dropped their target price on Southwest Airlines from $66.00 to $56.00 and set an “inline” rating on the stock in a research report on Friday. Morgan Stanley reissued a “buy” rating on shares of Southwest Airlines in a research report on Tuesday, August 14th. ValuEngine raised Southwest Airlines from a “sell” rating to a “hold” rating in a research report on Thursday, July 26th. Buckingham Research raised their target price on Southwest Airlines from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, September 7th. Finally, Zacks Investment Research raised Southwest Airlines from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Southwest Airlines has a consensus rating of “Buy” and a consensus price target of $67.78.
LUV stock opened at $47.91 on Tuesday. Southwest Airlines Co has a twelve month low of $47.10 and a twelve month high of $66.99. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.65 and a current ratio of 0.71. The stock has a market cap of $28.41 billion, a PE ratio of 13.69, a P/E/G ratio of 1.08 and a beta of 1.06.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, October 25th. The airline reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.02. Southwest Airlines had a return on equity of 22.27% and a net margin of 17.18%. The firm had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.56 billion. During the same period in the previous year, the firm earned $0.88 EPS. As a group, equities analysts forecast that Southwest Airlines Co will post 4.11 earnings per share for the current fiscal year.
About Southwest Airlines
Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 destinations in 40 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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