Origin Asset Management LLP Purchases 27,000 Shares of Southwest Airlines Company (LUV)
Origin Asset Management LLP increased its position in Southwest Airlines Company (NYSE:LUV) by 11.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 265,549 shares of the airline’s stock after acquiring an additional 27,000 shares during the quarter. Origin Asset Management LLP’s holdings in Southwest Airlines were worth $16,501,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in LUV. BDO Wealth Advisors LLC purchased a new stake in Southwest Airlines in the 2nd quarter worth about $102,000. Guardian Life Insurance Co. of America increased its holdings in Southwest Airlines by 0.6% in the 1st quarter. Guardian Life Insurance Co. of America now owns 2,374 shares of the airline’s stock worth $128,000 after acquiring an additional 15 shares during the last quarter. Pittenger & Anderson Inc. increased its holdings in Southwest Airlines by 13.5% in the 2nd quarter. Pittenger & Anderson Inc. now owns 2,100 shares of the airline’s stock worth $130,000 after acquiring an additional 250 shares during the last quarter. Van ECK Associates Corp increased its holdings in Southwest Airlines by 6.6% in the 1st quarter. Van ECK Associates Corp now owns 2,502 shares of the airline’s stock worth $135,000 after acquiring an additional 154 shares during the last quarter. Finally, National Pension Service purchased a new stake in Southwest Airlines in the 2nd quarter worth about $141,000. 79.42% of the stock is owned by institutional investors.
In related news, Director William H. Dr Cunningham purchased 4,500 shares of Southwest Airlines stock in a transaction on Friday, August 11th. The stock was acquired at an average price of $54.00 per share, for a total transaction of $243,000.00. Following the completion of the transaction, the director now directly owns 66,969 shares in the company, valued at approximately $3,616,326. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.21% of the company’s stock.
Shares of Southwest Airlines Company (NYSE LUV) traded up 0.82% during mid-day trading on Wednesday, hitting $54.39. The stock had a trading volume of 2,021,527 shares. The company has a market cap of $32.56 billion, a PE ratio of 16.68 and a beta of 1.29. Southwest Airlines Company has a 12 month low of $36.31 and a 12 month high of $64.39. The stock’s 50-day moving average is $54.23 and its 200 day moving average is $57.00.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings results on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Southwest Airlines had a return on equity of 26.07% and a net margin of 9.63%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.19 earnings per share. On average, equities research analysts forecast that Southwest Airlines Company will post $3.73 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Tuesday, August 22nd. Southwest Airlines’s payout ratio is 15.34%.
Southwest Airlines announced that its Board of Directors has approved a share repurchase program on Wednesday, May 17th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the airline to buy up to 5.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
LUV has been the subject of several recent research reports. Cowen and Company reissued a “buy” rating and issued a $67.00 price objective on shares of Southwest Airlines in a report on Friday, July 28th. BidaskClub lowered Southwest Airlines from a “hold” rating to a “sell” rating in a report on Sunday, July 30th. Morgan Stanley reissued an “overweight” rating and issued a $66.00 price objective (up previously from $65.00) on shares of Southwest Airlines in a report on Monday, July 10th. Bank of America Corporation lifted their price objective on Southwest Airlines from $62.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, June 30th. Finally, Vetr lowered Southwest Airlines from a “buy” rating to a “hold” rating and set a $63.80 price objective for the company. in a report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $67.30.
About Southwest Airlines
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
Want to see what other hedge funds are holding LUV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southwest Airlines Company (NYSE:LUV).
Receive News & Ratings for Southwest Airlines Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines Company and related companies with Analyst Ratings Network's FREE daily email newsletter.