Linscomb Wealth Inc. Sells 1,300 Shares of Southwest Airlines Co. (NYSE:LUV)

Linscomb Wealth Inc. lessened its stake in Southwest Airlines Co. (NYSE:LUV) by 9.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,831 shares of the airline’s stock after selling 1,300 shares during the period. Linscomb Wealth Inc.’s holdings in Southwest Airlines were worth $351,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of Southwest Airlines during the second quarter valued at $29,000. CVA Family Office LLC lifted its position in Southwest Airlines by 179.5% during the 2nd quarter. CVA Family Office LLC now owns 1,034 shares of the airline’s stock valued at $30,000 after purchasing an additional 664 shares during the period. Innealta Capital LLC bought a new position in shares of Southwest Airlines in the 2nd quarter valued at about $33,000. Ashton Thomas Securities LLC acquired a new stake in shares of Southwest Airlines during the 3rd quarter worth approximately $33,000. Finally, AM Squared Ltd bought a new stake in shares of Southwest Airlines during the second quarter worth approximately $37,000. Institutional investors and hedge funds own 80.82% of the company’s stock.

Southwest Airlines Stock Performance

LUV opened at $32.61 on Friday. The company has a market capitalization of $19.55 billion, a price-to-earnings ratio of -465.79, a P/E/G ratio of 7.57 and a beta of 1.15. The business’s 50-day moving average price is $30.29 and its two-hundred day moving average price is $28.43. Southwest Airlines Co. has a 1 year low of $23.58 and a 1 year high of $35.18. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.88 and a quick ratio of 0.83.

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 analysts’ consensus estimates of $0.05 by $0.10. Southwest Airlines had a positive return on equity of 4.56% and a negative net margin of 0.06%. 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 firm earned $0.38 EPS. Southwest Airlines’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts expect that Southwest Airlines Co. will post 0.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Sanford C. Bernstein lowered their target price on shares of Southwest Airlines from $26.00 to $24.00 and set a “market perform” rating for the company in a report on Monday, August 5th. Susquehanna lifted their price objective on Southwest Airlines from $25.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $29.00 target price (down previously from $32.00) on shares of Southwest Airlines in a research note on Friday, July 26th. BNP Paribas upgraded Southwest Airlines to a “strong sell” rating in a research report on Thursday, September 19th. Finally, JPMorgan Chase & Co. increased their price target on shares of Southwest Airlines from $20.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Southwest Airlines has an average rating of “Hold” and an average target price of $30.78.

Insider Transactions at Southwest Airlines

In related news, Director Rakesh Gangwal purchased 643,788 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was purchased at an average cost of $29.98 per share, for a total transaction of $19,300,764.24. Following the completion of the purchase, the director now directly owns 3,606,311 shares in the company, valued at $108,117,203.78. This trade represents a 21.73 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Elliott Investment Management sold 1,203,920 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $29.83, for a total value of $35,912,933.60. Following the completion of the sale, the insider now directly owns 59,912,580 shares of the company’s stock, valued at approximately $1,787,192,261.40. The trade was a 1.97 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

About Southwest Airlines

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.