Insight Capital Research & Management Inc. Takes Position in Southwest Airlines Company (LUV)

Insight Capital Research & Management Inc. purchased a new position in shares of Southwest Airlines Company (NYSE:LUV) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 30,406 shares of the airline’s stock, valued at approximately $1,889,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ibex Wealth Advisors boosted its position in shares of Southwest Airlines by 12.4% in the fourth quarter. Ibex Wealth Advisors now owns 26,296 shares of the airline’s stock valued at $1,343,000 after buying an additional 2,904 shares during the period. Wealthfront Inc. boosted its position in shares of Southwest Airlines by 14.9% in the fourth quarter. Wealthfront Inc. now owns 12,381 shares of the airline’s stock valued at $617,000 after buying an additional 1,610 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Southwest Airlines by 37.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,179,576 shares of the airline’s stock valued at $58,791,000 after buying an additional 319,866 shares during the period. Pegasus Partners Ltd. boosted its position in shares of Southwest Airlines by 1.1% in the fourth quarter. Pegasus Partners Ltd. now owns 26,131 shares of the airline’s stock valued at $1,302,000 after buying an additional 296 shares during the period. Finally, Teachers Advisors LLC boosted its position in shares of Southwest Airlines by 1.6% in the fourth quarter. Teachers Advisors LLC now owns 1,040,871 shares of the airline’s stock valued at $51,877,000 after buying an additional 16,081 shares during the period. 79.69% of the stock is owned by institutional investors.

Southwest Airlines Company (LUV) traded up 0.51% during trading on Wednesday, hitting $59.12. 537,069 shares of the stock traded hands. The stock has a market cap of $35.75 billion, a P/E ratio of 17.73 and a beta of 1.29. The stock has a 50 day moving average price of $61.20 and a 200-day moving average price of $56.77. Southwest Airlines Company has a 52-week low of $35.42 and a 52-week high of $64.39.

Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, April 27th. The airline reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by $0.01. The firm had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.91 billion. Southwest Airlines had a return on equity of 26.75% and a net margin of 10.16%. Southwest Airlines’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 EPS. On average, analysts anticipate that Southwest Airlines Company will post $3.90 EPS for the current fiscal year.

Southwest Airlines announced that its Board of Directors has initiated a stock repurchase program on Wednesday, May 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the airline to reacquire up to 5.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 28th. Stockholders of record on Wednesday, June 7th were paid a dividend of $0.125 per share. This is a boost from Southwest Airlines’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, June 5th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.85%. Southwest Airlines’s dividend payout ratio (DPR) is presently 15.11%.

COPYRIGHT VIOLATION WARNING: This story was reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this story on another site, it was stolen and reposted in violation of US & international copyright legislation. The original version of this story can be read at https://sportsperspectives.com/2017/07/26/insight-capital-research-management-inc-takes-position-in-southwest-airlines-company-luv.html.

LUV has been the subject of several recent analyst reports. Vetr raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $60.24 target price for the company in a report on Thursday, March 30th. Deutsche Bank AG lifted their target price on shares of Southwest Airlines from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 target price on shares of Southwest Airlines in a report on Friday, May 26th. Zacks Investment Research raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a report on Tuesday, May 30th. Finally, ValuEngine raised shares of Southwest Airlines from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $63.80.

In related news, EVP Jeff Lamb sold 19,800 shares of Southwest Airlines stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $61.00, for a total value of $1,207,800.00. Following the sale, the executive vice president now owns 92,468 shares of the company’s stock, valued at approximately $5,640,548. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mark R. Shaw sold 3,823 shares of Southwest Airlines stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $59.13, for a total transaction of $226,053.99. Following the completion of the sale, the senior vice president now directly owns 7,784 shares in the company, valued at approximately $460,267.92. The disclosure for this sale can be found here. Insiders have sold a total of 118,740 shares of company stock worth $6,923,568 in the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Southwest Airlines Company 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.

Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

Receive News & Ratings for Southwest Airlines Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines Company and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply