Wedbush Securities Inc. Has $350,000 Stock Holdings in Southwest Airlines Co. (NYSE:LUV)

Posted by on Apr 18th, 2023

Wedbush Securities Inc. decreased its position in shares of Southwest Airlines Co. (NYSE:LUV – Get Rating) by 5.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,380 shares of the airline’s stock after selling 650 shares during the quarter. Wedbush Securities Inc.’s holdings in Southwest Airlines were worth $350,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of LUV. Roundview Capital LLC lifted its holdings in Southwest Airlines by 21.2% during the 1st quarter. Roundview Capital LLC now owns 13,336 shares of the airline’s stock worth $611,000 after buying an additional 2,335 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Southwest Airlines in the 1st quarter valued at $403,000. APG Asset Management N.V. lifted its stake in shares of Southwest Airlines by 16.6% in the 1st quarter. APG Asset Management N.V. now owns 6,335 shares of the airline’s stock valued at $261,000 after purchasing an additional 900 shares during the period. Raymond James Trust N.A. lifted its stake in shares of Southwest Airlines by 5.3% in the 1st quarter. Raymond James Trust N.A. now owns 12,187 shares of the airline’s stock valued at $559,000 after purchasing an additional 615 shares during the period. Finally, Cibc World Market Inc. lifted its stake in shares of Southwest Airlines by 3.2% in the 1st quarter. Cibc World Market Inc. now owns 40,189 shares of the airline’s stock valued at $1,841,000 after purchasing an additional 1,246 shares during the period. Institutional investors and hedge funds own 74.71% of the company’s stock.

Southwest Airlines Price Performance

Shares of NYSE LUV opened at $32.31 on Tuesday. The stock has a market capitalization of $19.22 billion, a price-to-earnings ratio of 40.39, a PEG ratio of 0.38 and a beta of 1.15. The business has a 50-day moving average of $32.75 and a 200-day moving average of $34.81. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.43 and a quick ratio of 1.35. Southwest Airlines Co. has a fifty-two week low of $28.95 and a fifty-two week high of $50.10.

Southwest Airlines (NYSE:LUV – Get Rating) last issued its earnings results on Thursday, January 26th. The airline reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.35). Southwest Airlines had a net margin of 2.26% and a return on equity of 6.71%. The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.14 billion. During the same quarter last year, the business posted $0.14 earnings per share. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, sell-side analysts predict that Southwest Airlines Co. will post 2.68 earnings per share for the current fiscal year.

Southwest Airlines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 29th. Shareholders of record on Wednesday, March 8th were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, March 7th. This represents a $0.72 annualized dividend and a yield of 2.23%. Southwest Airlines’s dividend payout ratio (DPR) is presently 90.00%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LUV. Morgan Stanley cut their price target on Southwest Airlines from $68.00 to $63.00 and set an “overweight” rating on the stock in a research note on Monday, January 30th. Raymond James lowered their price objective on shares of Southwest Airlines from $48.00 to $45.00 and set a “strong-buy” rating for the company in a research report on Thursday, January 5th. Barclays cut shares of Southwest Airlines from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $42.00 to $38.00 in a research report on Friday, March 10th. Susquehanna cut shares of Southwest Airlines from a “positive” rating to a “neutral” rating and set a $40.00 price objective for the company. in a research report on Wednesday, January 11th. Finally, Citigroup lowered their target price on Southwest Airlines from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Monday, January 9th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Southwest Airlines has an average rating of “Moderate Buy” and an average target price of $47.07.

About Southwest Airlines

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Southwest Airlines Co engages in the operation and management of a passenger airline. The firm also offers ancillary services such as early bird check-in, upgraded boarding, and transportation of pets and unaccompanied minors. It operates in the United States, the Commonwealth of Puerto Rico, Mexico, Jamaica, the Bahamas, Aruba, Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.

See Also

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

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