Southwest Airlines Co. (NYSE:LUV) Shares Bought by Assetmark Inc.

Assetmark Inc. boosted its holdings in shares of Southwest Airlines Co. (NYSE:LUV - Free Report) by 12.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 144,692 shares of the airline's stock after purchasing an additional 15,689 shares during the period. Assetmark Inc.'s holdings in Southwest Airlines were worth $4,287,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of LUV. Olstein Capital Management L.P. boosted its holdings in shares of Southwest Airlines by 33.7% in the third quarter. Olstein Capital Management L.P. now owns 258,000 shares of the airline's stock valued at $7,645,000 after acquiring an additional 65,000 shares in the last quarter. Clearbridge Investments LLC purchased a new stake in shares of Southwest Airlines in the second quarter valued at about $609,000. Tidal Investments LLC boosted its holdings in shares of Southwest Airlines by 26.0% in the first quarter. Tidal Investments LLC now owns 100,351 shares of the airline's stock valued at $2,931,000 after acquiring an additional 20,694 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Southwest Airlines by 15.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 493,954 shares of the airline's stock valued at $14,419,000 after acquiring an additional 64,284 shares in the last quarter. Finally, Brown Financial Advisors purchased a new stake in shares of Southwest Airlines in the second quarter valued at about $764,000. 80.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LUV has been the topic of several analyst reports. TD Cowen lifted their target price on shares of Southwest Airlines from $19.00 to $25.00 and gave the company a "hold" rating in a report on Monday, September 30th. StockNews.com raised shares of Southwest Airlines from a "sell" rating to a "hold" rating in a report on Monday, October 28th. Bank of America started coverage on shares of Southwest Airlines in a report on Monday, November 4th. They set a "neutral" rating and a $33.00 price objective on the stock. Evercore ISI raised shares of Southwest Airlines from an "in-line" rating to an "outperform" rating and boosted their price objective for the stock from $30.00 to $35.00 in a report on Tuesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $29.00 target price (down previously from $32.00) on shares of Southwest Airlines in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $30.96.

Insider Activity

In related news, major shareholder Elliott Investment Management sold 1,203,920 shares of the company's stock in a transaction 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 sale, the insider now directly owns 59,912,580 shares of the company's stock, valued at $1,787,192,261.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Rakesh Gangwal purchased 643,788 shares of the business's stock in a transaction that occurred on 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 acquisition, the director now directly owns 3,606,311 shares of the company's stock, valued at approximately $108,117,203.78. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Elliott Investment Management sold 1,203,920 shares of the company's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $29.83, for a total transaction of $35,912,933.60. Following the completion of the sale, the insider now directly owns 59,912,580 shares in the company, valued at $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. Insiders own 0.33% of the company's stock.

Southwest Airlines Price Performance

Southwest Airlines stock traded up $0.35 during trading on Wednesday, reaching $32.38. The company had a trading volume of 7,170,972 shares, compared to its average volume of 9,290,193. Southwest Airlines Co. has a 12-month low of $23.46 and a 12-month high of $35.18. The stock's 50 day moving average price is $30.12 and its two-hundred day moving average price is $28.34. 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 - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The airline reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.10. The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.77 billion. Southwest Airlines had a negative net margin of 0.06% and a positive return on equity of 4.56%. Southwest Airlines's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 earnings per share. As a group, sell-side analysts forecast that Southwest Airlines Co. will post 0.75 earnings per share for the current year.

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.