Diversify Wealth Management LLC Decreases Holdings in Southwest Airlines Co. (NYSE:LUV)

Diversify Wealth Management LLC decreased its position in shares of Southwest Airlines Co. (NYSE:LUV) by 7.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,726 shares of the airline’s stock after selling 1,334 shares during the period. Diversify Wealth Management LLC’s holdings in Southwest Airlines were worth $483,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LUV. Capital World Investors raised its holdings in shares of Southwest Airlines by 14.9% in the first quarter. Capital World Investors now owns 61,422,187 shares of the airline’s stock worth $1,792,914,000 after buying an additional 7,946,199 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Southwest Airlines by 3.3% in the first quarter. Vanguard Group Inc. now owns 67,569,773 shares of the airline’s stock worth $1,972,362,000 after buying an additional 2,148,435 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Southwest Airlines in the second quarter worth $48,551,000. Canada Pension Plan Investment Board raised its holdings in shares of Southwest Airlines by 629.5% in the second quarter. Canada Pension Plan Investment Board now owns 1,590,298 shares of the airline’s stock worth $45,498,000 after buying an additional 1,372,305 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Southwest Airlines by 21.6% in the second quarter. Dimensional Fund Advisors LP now owns 5,828,166 shares of the airline’s stock worth $166,742,000 after buying an additional 1,034,496 shares during the last quarter. Hedge funds and other institutional investors own 80.82% of the company’s stock.

Southwest Airlines Stock Performance

Shares of NYSE LUV opened at $30.57 on Friday. The company’s 50-day simple moving average is $29.72 and its 200-day simple moving average is $28.19. Southwest Airlines Co. has a 52-week low of $21.91 and a 52-week high of $35.18. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 0.49.

Southwest Airlines (NYSE:LUV) last announced its earnings results on Thursday, October 24th. The airline reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.10. Southwest Airlines had a negative net margin of 0.06% and a positive return on equity of 4.56%. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.77 billion. During the same quarter last year, the business earned $0.38 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Sell-side analysts predict that Southwest Airlines Co. will post 0.7 EPS for the current year.

Insider Activity

In other Southwest Airlines news, Director Rakesh Gangwal purchased 643,788 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were purchased at an average cost of $29.98 per share, with a total value of $19,300,764.24. Following the completion of the purchase, the director now owns 3,606,311 shares in the company, valued at approximately $108,117,203.78. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other Southwest Airlines news, Director Rakesh Gangwal purchased 643,788 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were purchased at an average cost of $29.98 per share, with a total value of $19,300,764.24. Following the completion of the purchase, the director now owns 3,606,311 shares in the company, valued at approximately $108,117,203.78. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Elliott Investment Management sold 1,203,920 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $29.83, for a total transaction of $35,912,933.60. Following the completion of the transaction, the insider now directly owns 59,912,580 shares in the company, valued at approximately $1,787,192,261.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on LUV shares. Citigroup raised their price target on shares of Southwest Airlines from $28.25 to $31.50 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Jefferies Financial Group raised shares of Southwest Airlines from an “underperform” rating to a “hold” rating and raised their target price for the stock from $24.00 to $32.00 in a report on Wednesday, October 9th. StockNews.com raised shares of Southwest Airlines from a “sell” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. raised their target price on shares of Southwest Airlines from $20.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Finally, Susquehanna raised their target price on shares of Southwest Airlines from $25.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $30.14.

Southwest Airlines Profile

Southwest Airlines Co operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.