Creative Planning lowered its holdings in Southwest Airlines Co. (NYSE:LUV) by 3.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 268,916 shares of the airline’s stock after selling 9,807 shares during the quarter. Creative Planning’s holdings in Southwest Airlines were worth $13,830,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Orion Portfolio Solutions LLC lifted its position in shares of Southwest Airlines by 10.8% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 6,845 shares of the airline’s stock worth $352,000 after acquiring an additional 669 shares during the period. Otter Creek Advisors LLC bought a new stake in shares of Southwest Airlines in the 3rd quarter worth approximately $2,572,000. Avidian Wealth Solutions LLC lifted its position in shares of Southwest Airlines by 88.9% in the 3rd quarter. Avidian Wealth Solutions LLC now owns 16,896 shares of the airline’s stock worth $869,000 after acquiring an additional 7,951 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in shares of Southwest Airlines in the 3rd quarter worth approximately $802,000. Finally, CIBC Asset Management Inc lifted its position in shares of Southwest Airlines by 15.4% in the 3rd quarter. CIBC Asset Management Inc now owns 913,868 shares of the airline’s stock worth $47,001,000 after acquiring an additional 122,252 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.
LUV has been the subject of a number of research reports. Susquehanna downgraded Southwest Airlines from a “positive” rating to a “neutral” rating and reduced their price objective for the stock from $52.00 to $50.00 in a research report on Thursday. UBS Group downgraded Southwest Airlines from a “buy” rating to a “neutral” rating in a research report on Thursday, December 9th. Morgan Stanley cut their target price on Southwest Airlines from $71.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, December 9th. MKM Partners downgraded Southwest Airlines from a “buy” rating to a “neutral” rating and set a $45.00 target price for the company. in a research report on Monday, January 3rd. Finally, Raymond James lowered their target price on Southwest Airlines from $62.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, November 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $55.72.
Southwest Airlines (NYSE:LUV) last released its earnings results on Wednesday, October 20th. The airline reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.04. Southwest Airlines had a negative return on equity of 22.34% and a net margin of 0.02%. The business had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.58 billion. During the same quarter in the prior year, the company posted ($1.99) earnings per share. Southwest Airlines’s revenue was up 161.0% on a year-over-year basis. On average, research analysts forecast that Southwest Airlines Co. will post -2.18 earnings per share for the current year.
In related news, Director Thomas W. Gilligan sold 11,188 shares of the company’s stock in a transaction dated Wednesday, October 27th. The stock was sold at an average price of $47.34, for a total transaction of $529,639.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.32% of the company’s stock.
Southwest Airlines 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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