Toroso Investments LLC lifted its holdings in Southwest Airlines Co. (NYSE:LUV) by 276.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,922 shares of the airline’s stock after acquiring an additional 24,910 shares during the quarter. Toroso Investments LLC’s holdings in Southwest Airlines were worth $1,801,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC grew its position in Southwest Airlines by 591.2% during the first quarter. Janus Henderson Group PLC now owns 3,547,680 shares of the airline’s stock valued at $216,622,000 after buying an additional 3,034,431 shares during the period. Rothschild & Co. Asset Management US Inc. acquired a new stake in Southwest Airlines during the first quarter valued at $70,745,000. Artisan Partners Limited Partnership grew its position in Southwest Airlines by 8.7% during the second quarter. Artisan Partners Limited Partnership now owns 10,113,685 shares of the airline’s stock valued at $536,936,000 after buying an additional 808,601 shares during the period. Clearbridge Investments LLC purchased a new position in Southwest Airlines during the first quarter valued at $40,333,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Southwest Airlines by 884.8% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 690,802 shares of the airline’s stock valued at $36,675,000 after purchasing an additional 620,657 shares in the last quarter. Hedge funds and other institutional investors own 77.30% of the company’s stock.
Several equities analysts have issued reports on LUV shares. JPMorgan Chase & Co. raised shares of Southwest Airlines from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $64.00 to $70.00 in a report on Friday, October 1st. Barclays raised shares of Southwest Airlines from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $64.00 to $75.00 in a report on Monday, October 4th. Evercore ISI decreased their price objective on shares of Southwest Airlines from $70.00 to $62.00 and set an “outperform” rating on the stock in a report on Friday, September 10th. Jefferies Financial Group reaffirmed a “buy” rating and set a $51.24 price objective (down from $75.00) on shares of Southwest Airlines in a report on Monday, July 26th. Finally, Redburn Partners started coverage on shares of Southwest Airlines in a research report on Wednesday, August 11th. They set a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $60.03.
Southwest Airlines (NYSE:LUV) last issued its earnings results on Wednesday, July 21st. The airline reported ($0.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.12). The company had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Southwest Airlines had a negative net margin of 16.23% and a negative return on equity of 33.72%. The company’s quarterly revenue was up 297.6% on a year-over-year basis. During the same period last year, the business posted ($2.67) earnings per share. On average, sell-side analysts forecast that Southwest Airlines Co. will post -1.55 EPS for the current fiscal year.
Southwest Airlines Company Profile
Southwest Airlines Co engages in the management of a passenger airline. It offers ancillary services such as earlybird check-in, upgraded boarding, and transportation of pets and unaccompanied minors. The firm operates in U.S. states, District of Columbia, the Commonwealth of Puerto Rico, Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.
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