Southwest Airlines Co. (NYSE:LUV) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its stake in shares of Southwest Airlines Co. (NYSE:LUV - Free Report) by 19.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,500 shares of the airline's stock after selling 23,986 shares during the period. Nisa Investment Advisors LLC's holdings in Southwest Airlines were worth $2,889,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LUV. Asahi Life Asset Management CO. LTD. acquired a new stake in shares of Southwest Airlines in the third quarter worth approximately $344,000. Hedges Asset Management LLC lifted its holdings in Southwest Airlines by 23.6% in the 3rd quarter. Hedges Asset Management LLC now owns 133,400 shares of the airline's stock valued at $3,953,000 after purchasing an additional 25,500 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Southwest Airlines by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 69,463 shares of the airline's stock worth $2,058,000 after purchasing an additional 4,720 shares during the last quarter. Modera Wealth Management LLC acquired a new stake in Southwest Airlines during the 3rd quarter worth $207,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Southwest Airlines by 45.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,188 shares of the airline's stock worth $1,128,000 after buying an additional 11,936 shares in the last quarter. 80.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Elliott Investment Management sold 1,203,920 shares of the company's stock in a transaction that occurred 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Southwest Airlines news, major shareholder Elliott Investment Management sold 1,203,920 shares of the company's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $29.83, for a total transaction of $35,912,933.60. Following the sale, the insider now owns 59,912,580 shares in the company, valued at $1,787,192,261.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rakesh Gangwal acquired 643,788 shares of the firm's stock in a transaction dated Tuesday, October 1st. The stock was bought at an average price of $29.98 per share, with a total value of $19,300,764.24. Following the purchase, the director now directly owns 3,606,311 shares in the company, valued at approximately $108,117,203.78. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.33% of the company's stock.

Southwest Airlines Trading Up 0.1 %

NYSE LUV traded up $0.03 on Friday, reaching $30.61. The stock had a trading volume of 6,158,239 shares, compared to its average volume of 7,881,361. Southwest Airlines Co. has a 12-month low of $22.44 and a 12-month high of $35.18. The stock has a fifty day moving average price of $29.77 and a two-hundred day moving average price of $28.21. The firm has a market capitalization of $18.36 billion, a price-to-earnings ratio of -437.29, a P/E/G ratio of 9.49 and a beta of 1.15. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.49.

Southwest Airlines (NYSE:LUV - Get Free Report) last posted its earnings results 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 firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.77 billion. Southwest Airlines had a positive return on equity of 4.56% and a negative net margin of 0.06%. Southwest Airlines's revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. As a group, sell-side analysts forecast that Southwest Airlines Co. will post 0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LUV has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on shares of Southwest Airlines from $20.00 to $26.00 and gave the stock a "neutral" rating in a research report on Friday, October 25th. Susquehanna upped their price target on Southwest Airlines from $25.00 to $30.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $29.00 price objective (down previously from $32.00) on shares of Southwest Airlines in a research report on Friday, July 26th. BNP Paribas upgraded Southwest Airlines to a "strong sell" rating in a report on Thursday, September 19th. Finally, Sanford C. Bernstein reduced their price target on Southwest Airlines from $26.00 to $24.00 and set a "market perform" rating on the stock in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $30.14.

Southwest Airlines Company Profile

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.