Victory Capital Management Inc. Sells 67,522 Shares of Southwest Airlines Co (LUV)

Victory Capital Management Inc. cut its stake in shares of Southwest Airlines Co (NYSE:LUV) by 8.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 762,805 shares of the airline’s stock after selling 67,522 shares during the period. Victory Capital Management Inc. owned 0.13% of Southwest Airlines worth $47,637,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Norman Fields Gottscho Capital Management LLC lifted its position in shares of Southwest Airlines by 1.9% in the third quarter. Norman Fields Gottscho Capital Management LLC now owns 45,180 shares of the airline’s stock valued at $2,821,000 after buying an additional 855 shares during the last quarter. AE Wealth Management LLC lifted its position in shares of Southwest Airlines by 19.0% in the second quarter. AE Wealth Management LLC now owns 5,432 shares of the airline’s stock valued at $276,000 after buying an additional 869 shares during the last quarter. IFM Investors Pty Ltd lifted its position in shares of Southwest Airlines by 11.4% in the third quarter. IFM Investors Pty Ltd now owns 8,674 shares of the airline’s stock valued at $542,000 after buying an additional 888 shares during the last quarter. Lucia Wealth Services LLC lifted its position in shares of Southwest Airlines by 22.7% in the second quarter. Lucia Wealth Services LLC now owns 4,854 shares of the airline’s stock valued at $247,000 after buying an additional 898 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Southwest Airlines by 0.4% in the second quarter. CIBC Asset Management Inc now owns 228,478 shares of the airline’s stock valued at $11,625,000 after buying an additional 956 shares during the last quarter. 78.03% of the stock is owned by hedge funds and other institutional investors.

In other Southwest Airlines news, EVP Andrew M. Watterson sold 6,130 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $59.28, for a total transaction of $363,386.40. Following the transaction, the executive vice president now owns 16,597 shares in the company, valued at approximately $983,870.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.23% of the stock is owned by company insiders.

Shares of NYSE LUV opened at $52.72 on Friday. The company has a market cap of $29.16 billion, a PE ratio of 13.44, a PEG ratio of 1.13 and a beta of 1.22. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.65 and a current ratio of 0.71. Southwest Airlines Co has a 1-year low of $47.10 and a 1-year high of $66.99.

Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, October 25th. The airline reported $1.08 EPS for the quarter, topping 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 analyst estimates of $5.56 billion. During the same quarter last year, the company earned $0.88 EPS. Equities research analysts predict that Southwest Airlines Co will post 4.12 earnings per share for the current year.

A number of analysts have recently issued reports on the company. Zacks Investment Research cut Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. Stephens set a $69.00 target price on Southwest Airlines and gave the stock a “buy” rating in a research note on Friday, July 27th. JPMorgan Chase & Co. lowered Southwest Airlines from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $63.00 to $52.00 in a research note on Tuesday, October 30th. ValuEngine upgraded Southwest Airlines from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. Finally, Cowen increased their target price on Southwest Airlines from $63.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Southwest Airlines has a consensus rating of “Buy” and an average target price of $66.78.

TRADEMARK VIOLATION NOTICE: “Victory Capital Management Inc. Sells 67,522 Shares of Southwest Airlines Co (LUV)” was published by WKRB News and is the property of of WKRB News. If you are reading this piece on another domain, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The legal version of this piece can be read at https://www.wkrb13.com/2018/11/09/victory-capital-management-inc-sells-67522-shares-of-southwest-airlines-co-luv.html.

Southwest Airlines 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, 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.

See Also: Inflation

Institutional Ownership by Quarter for Southwest Airlines (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.

Leave a Reply