Frontier Investment Mgmt Co. bought a new stake in Southwest Airlines Co (NYSE:LUV) in the fourth quarter, Holdings Channel reports. The fund bought 40,605 shares of the airline’s stock, valued at approximately $2,658,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BT Investment Management Ltd grew its stake in Southwest Airlines by 43.1% during the third quarter. BT Investment Management Ltd now owns 408,284 shares of the airline’s stock worth $22,857,000 after buying an additional 122,892 shares during the period. State of Alaska Department of Revenue grew its stake in Southwest Airlines by 162.0% during the fourth quarter. State of Alaska Department of Revenue now owns 83,494 shares of the airline’s stock worth $5,462,000 after buying an additional 51,620 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Southwest Airlines by 14.6% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 89,727 shares of the airline’s stock worth $5,023,000 after buying an additional 11,398 shares during the period. Kalos Management Inc. purchased a new stake in Southwest Airlines during the third quarter worth approximately $2,328,000. Finally, Rational Advisors LLC grew its stake in Southwest Airlines by 27.1% during the third quarter. Rational Advisors LLC now owns 17,800 shares of the airline’s stock worth $997,000 after buying an additional 3,800 shares during the period. Institutional investors own 78.97% of the company’s stock.
LUV has been the subject of several analyst reports. Cowen restated an “outperform” rating and issued a $64.00 target price (up from $62.00) on shares of Southwest Airlines in a research note on Friday, October 27th. Deutsche Bank restated a “buy” rating and issued a $71.00 target price on shares of Southwest Airlines in a research note on Friday, October 27th. Zacks Investment Research downgraded shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research note on Monday, October 30th. Stifel Nicolaus restated a “buy” rating and issued a $80.00 target price on shares of Southwest Airlines in a research note on Wednesday, November 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Southwest Airlines from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Southwest Airlines has a consensus rating of “Buy” and an average target price of $67.97.
In related news, Director John T. Montford sold 1,695 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $63.27, for a total value of $107,242.65. Following the sale, the director now directly owns 23,098 shares of the company’s stock, valued at $1,461,410.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William H. Dr Cunningham bought 3,500 shares of the company’s stock in a transaction on Monday, February 12th. The shares were acquired at an average cost of $56.25 per share, for a total transaction of $196,875.00. Following the completion of the acquisition, the director now directly owns 70,469 shares of the company’s stock, valued at approximately $3,963,881.25. The disclosure for this purchase can be found here. Corporate insiders own 0.21% of the company’s stock.
Shares of Southwest Airlines Co (NYSE:LUV) opened at $58.27 on Monday. The stock has a market cap of $34,259.91, a price-to-earnings ratio of 16.65, a P/E/G ratio of 1.04 and a beta of 1.17. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.45. Southwest Airlines Co has a twelve month low of $49.76 and a twelve month high of $66.99.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings results on Thursday, January 25th. The airline reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.01. The firm had revenue of $5.27 billion for the quarter, compared to analysts’ expectations of $5.25 billion. Southwest Airlines had a net margin of 16.48% and a return on equity of 23.43%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share. equities analysts predict that Southwest Airlines Co will post 5 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th will be issued a $0.125 dividend. The ex-dividend date is Tuesday, March 6th. This represents a $0.50 annualized dividend and a yield of 0.86%. Southwest Airlines’s dividend payout ratio is presently 8.59%.
TRADEMARK VIOLATION NOTICE: “Frontier Investment Mgmt Co. Buys New Holdings in Southwest Airlines Co (LUV)” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://ledgergazette.com/2018/02/19/frontier-investment-mgmt-co-buys-new-holdings-in-southwest-airlines-co-luv.html.
Southwest Airlines Profile
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
Want to see what other hedge funds are holding LUV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southwest Airlines Co (NYSE:LUV).
Receive News & Ratings for Southwest Airlines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines and related companies with MarketBeat.com's FREE daily email newsletter.