Southwest Airlines Co (LUV) Holdings Reduced by First Mercantile Trust Co.

First Mercantile Trust Co. cut its position in Southwest Airlines Co (NYSE:LUV) by 53.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 9,530 shares of the airline’s stock after selling 10,963 shares during the quarter. First Mercantile Trust Co.’s holdings in Southwest Airlines were worth $494,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in LUV. Cetera Advisor Networks LLC lifted its position in shares of Southwest Airlines by 81.6% during the first quarter. Cetera Advisor Networks LLC now owns 25,817 shares of the airline’s stock worth $1,340,000 after purchasing an additional 11,598 shares in the last quarter. First Allied Advisory Services Inc. lifted its position in shares of Southwest Airlines by 6.2% during the first quarter. First Allied Advisory Services Inc. now owns 31,370 shares of the airline’s stock worth $1,637,000 after purchasing an additional 1,821 shares in the last quarter. OLD National Bancorp IN lifted its position in shares of Southwest Airlines by 5.2% during the first quarter. OLD National Bancorp IN now owns 36,367 shares of the airline’s stock worth $1,888,000 after purchasing an additional 1,804 shares in the last quarter. Markel Corp lifted its position in shares of Southwest Airlines by 131.9% during the first quarter. Markel Corp now owns 211,000 shares of the airline’s stock worth $10,953,000 after purchasing an additional 120,000 shares in the last quarter. Finally, Twin Capital Management Inc. lifted its position in shares of Southwest Airlines by 0.3% during the first quarter. Twin Capital Management Inc. now owns 128,310 shares of the airline’s stock worth $6,661,000 after purchasing an additional 410 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Shares of NYSE:LUV opened at $51.65 on Wednesday. Southwest Airlines Co has a 52 week low of $44.28 and a 52 week high of $64.02. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $27.72 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.28 and a beta of 1.49.

Southwest Airlines (NYSE:LUV) last issued its earnings results on Thursday, April 25th. The airline reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.09. Southwest Airlines had a net margin of 10.78% and a return on equity of 23.94%. The firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the prior year, the firm earned $0.79 earnings per share. The business’s quarterly revenue was up 4.1% on a year-over-year basis. On average, research analysts anticipate that Southwest Airlines Co will post 4.67 EPS for the current year.

LUV has been the subject of a number of recent research reports. Goldman Sachs Group downgraded shares of Southwest Airlines from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $66.00 to $54.00 in a research note on Wednesday, February 20th. ValuEngine downgraded shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Raymond James downgraded shares of Southwest Airlines from an “outperform” rating to a “market perform” rating and set a $53.25 price target for the company. in a research note on Monday, April 8th. Imperial Capital reissued an “in-line” rating and set a $58.00 price target (down from $60.00) on shares of Southwest Airlines in a research note on Thursday, February 21st. Finally, Cowen reissued a “market perform” rating and set a $58.00 price target (up from $54.00) on shares of Southwest Airlines in a research note on Friday, January 25th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. Southwest Airlines presently has a consensus rating of “Hold” and an average price target of $58.64.

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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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