Intercontinental Wealth Advisors LLC Trims Stock Holdings in Southwest Airlines Co. (NYSE:LUV)

Intercontinental Wealth Advisors LLC decreased its holdings in Southwest Airlines Co. (NYSE:LUVGet Rating) by 25.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 6,249 shares of the airline’s stock after selling 2,105 shares during the period. Intercontinental Wealth Advisors LLC’s holdings in Southwest Airlines were worth $286,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of LUV. Archer Investment Corp purchased a new position in shares of Southwest Airlines in the fourth quarter worth about $25,000. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Southwest Airlines in the fourth quarter valued at approximately $26,000. Atticus Wealth Management LLC boosted its position in shares of Southwest Airlines by 78.9% in the first quarter. Atticus Wealth Management LLC now owns 567 shares of the airline’s stock valued at $26,000 after acquiring an additional 250 shares during the period. Cornerstone Advisory LLC bought a new position in shares of Southwest Airlines in the fourth quarter valued at approximately $27,000. Finally, Manchester Capital Management LLC bought a new position in shares of Southwest Airlines in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 76.74% of the company’s stock.

Southwest Airlines Trading Up 0.1 %

LUV stock opened at $38.81 on Friday. The company has a market capitalization of $23.03 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 2.66 and a beta of 1.00. Southwest Airlines Co. has a one year low of $34.36 and a one year high of $56.33. The company’s 50 day moving average price is $39.08 and its two-hundred day moving average price is $42.49. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.59 and a current ratio of 1.66.

Southwest Airlines (NYSE:LUVGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The airline reported $1.30 EPS for the quarter, topping the consensus estimate of $0.91 by $0.39. The firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.69 billion. Southwest Airlines had a net margin of 4.71% and a return on equity of 5.54%. The business’s revenue was up 67.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.35) earnings per share. As a group, analysts predict that Southwest Airlines Co. will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director John T. Montford sold 2,300 shares of Southwest Airlines stock in a transaction on Friday, May 27th. The shares were sold at an average price of $45.70, for a total value of $105,110.00. Following the transaction, the director now directly owns 23,296 shares of the company’s stock, valued at $1,064,627.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Morgan Stanley cut their price objective on shares of Southwest Airlines from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday. Raymond James upgraded shares of Southwest Airlines from an “outperform” rating to a “strong-buy” rating and cut their price objective for the company from $57.00 to $55.00 in a research report on Thursday, June 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $60.00 price objective on shares of Southwest Airlines in a research report on Friday, April 29th. Cowen cut their price objective on shares of Southwest Airlines from $67.00 to $55.00 in a research report on Friday, July 29th. Finally, Citigroup lifted their target price on shares of Southwest Airlines from $48.00 to $53.00 in a research report on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Southwest Airlines currently has an average rating of “Moderate Buy” and an average target price of $53.06.

About Southwest Airlines

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Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2021, the company operated a total fleet of 728 Boeing 737 aircrafts; and served 121 destinations in 42 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

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

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