Calamos Advisors LLC raised its holdings in Southwest Airlines Co (NYSE:LUV) by 7.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 139,892 shares of the airline’s stock after purchasing an additional 9,673 shares during the quarter. Calamos Advisors LLC’s holdings in Southwest Airlines were worth $7,556,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Sterling Investment Advisors Ltd. acquired a new stake in shares of Southwest Airlines during the 3rd quarter valued at $26,000. Global Wealth Management Investment Advisory Inc. boosted its holdings in shares of Southwest Airlines by 242.8% during the 2nd quarter. Global Wealth Management Investment Advisory Inc. now owns 713 shares of the airline’s stock valued at $36,000 after acquiring an additional 505 shares in the last quarter. American National Bank acquired a new stake in shares of Southwest Airlines during the 3rd quarter valued at $54,000. Doyle Wealth Management acquired a new stake in shares of Southwest Airlines during the 2nd quarter valued at $58,000. Finally, Westside Investment Management Inc. acquired a new stake in shares of Southwest Airlines during the 2nd quarter valued at $60,000. 82.08% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on LUV shares. Morgan Stanley raised their price objective on Southwest Airlines from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Berenberg Bank started coverage on Southwest Airlines in a report on Friday, September 6th. They set a “hold” rating and a $57.00 price objective on the stock. Wolfe Research raised Southwest Airlines from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a report on Friday, August 16th. Bank of America raised Southwest Airlines to a “buy” rating and set a $65.00 price objective on the stock in a report on Monday, September 23rd. Finally, Tigress Financial reissued a “buy” rating on shares of Southwest Airlines in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $58.07.
Southwest Airlines (NYSE:LUV) last announced its earnings results on Thursday, July 25th. The airline reported $1.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.02. The firm had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.94 billion. Southwest Airlines had a return on equity of 24.12% and a net margin of 10.73%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.26 EPS. Equities research analysts predict that Southwest Airlines Co will post 4.27 EPS for the current fiscal year.
About Southwest Airlines
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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