Courant Investment Management LLC Has $19.88 Million Holdings in Southwest Airlines Co (NYSE:LUV)

Courant Investment Management LLC boosted its position in shares of Southwest Airlines Co (NYSE:LUV) by 15.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 368,055 shares of the airline’s stock after acquiring an additional 50,000 shares during the quarter. Southwest Airlines makes up approximately 13.1% of Courant Investment Management LLC’s holdings, making the stock its 2nd biggest holding. Courant Investment Management LLC’s holdings in Southwest Airlines were worth $19,879,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Nuveen Asset Management LLC raised its holdings in Southwest Airlines by 333.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,739,565 shares of the airline’s stock worth $189,895,000 after purchasing an additional 2,877,170 shares in the last quarter. AQR Capital Management LLC raised its holdings in Southwest Airlines by 50.7% in the 2nd quarter. AQR Capital Management LLC now owns 5,547,705 shares of the airline’s stock worth $281,712,000 after purchasing an additional 1,865,500 shares in the last quarter. Schroder Investment Management Group raised its holdings in Southwest Airlines by 938.6% in the 2nd quarter. Schroder Investment Management Group now owns 385,935 shares of the airline’s stock worth $19,598,000 after purchasing an additional 348,777 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in Southwest Airlines by 975.2% in the 2nd quarter. Panagora Asset Management Inc. now owns 378,124 shares of the airline’s stock worth $19,201,000 after purchasing an additional 342,955 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Southwest Airlines by 120.2% in the 2nd quarter. Renaissance Technologies LLC now owns 611,780 shares of the airline’s stock worth $31,066,000 after buying an additional 333,900 shares during the period. Institutional investors own 82.08% of the company’s stock.

LUV stock traded up $2.67 during trading on Thursday, hitting $55.91. 324,641 shares of the stock traded hands, compared to its average volume of 3,951,721. Southwest Airlines Co has a 1 year low of $44.28 and a 1 year high of $58.77. The firm’s 50 day moving average is $53.82 and its two-hundred day moving average is $52.20. The stock has a market cap of $28.45 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 1.39 and a beta of 1.48. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.64 and a quick ratio of 0.59.

Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, July 25th. The airline reported $1.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.02. The company had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.94 billion. Southwest Airlines had a net margin of 10.73% and a return on equity of 24.12%. Southwest Airlines’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 EPS. As a group, analysts anticipate that Southwest Airlines Co will post 4.27 EPS for the current fiscal year.

A number of analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Southwest Airlines from a “sell” rating to a “hold” rating and set a $59.00 target price on the stock in a research report on Monday, September 16th. Tigress Financial reaffirmed a “buy” rating on shares of Southwest Airlines in a research report on Thursday, September 26th. Cowen reaffirmed a “market perform” rating and issued a $57.00 target price (up from $55.00) on shares of Southwest Airlines in a research report on Friday, July 26th. Stifel Nicolaus downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating and reduced their target price for the stock from $75.00 to $60.00 in a research report on Monday. Finally, Bank of America raised shares of Southwest Airlines to a “buy” rating and set a $65.00 target price on the stock in a research report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. Southwest Airlines presently has an average rating of “Hold” and an average target price of $58.07.

Southwest Airlines Company Profile

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, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 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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Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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