Mutual of America Capital Management LLC Boosts Holdings in Southwest Airlines Co. (NYSE:LUV)

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Mutual of America Capital Management LLC raised its position in shares of Southwest Airlines Co. (NYSE:LUVGet Rating) by 1.2% during the 1st quarter, Holdings Channel reports. The fund owned 79,276 shares of the airline’s stock after purchasing an additional 962 shares during the period. Mutual of America Capital Management LLC’s holdings in Southwest Airlines were worth $3,631,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of LUV. Archer Investment Corp purchased a new stake in shares of Southwest Airlines during the 4th quarter worth approximately $25,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Southwest Airlines during the 4th quarter worth approximately $26,000. Atticus Wealth Management LLC raised its holdings in Southwest Airlines by 78.9% during the 1st quarter. Atticus Wealth Management LLC now owns 567 shares of the airline’s stock valued at $26,000 after buying an additional 250 shares during the period. Cornerstone Advisory LLC purchased a new stake in Southwest Airlines during the 4th quarter valued at $27,000. Finally, Manchester Capital Management LLC purchased a new stake in Southwest Airlines during the 4th quarter valued at $30,000. 76.74% of the stock is owned by hedge funds and other institutional investors.

Southwest Airlines Price Performance

LUV opened at $39.60 on Wednesday. Southwest Airlines Co. has a 12-month low of $34.36 and a 12-month high of $56.33. The company has a current ratio of 1.87, a quick ratio of 1.81 and a debt-to-equity ratio of 0.99. The business’s fifty day simple moving average is $39.86 and its 200-day simple moving average is $42.85. The company has a market capitalization of $23.48 billion, a price-to-earnings ratio of 42.13, a PEG ratio of 2.46 and a beta of 1.00.

Southwest Airlines (NYSE:LUVGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The airline reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.67 billion. Southwest Airlines had a negative return on equity of 4.39% and a net margin of 3.17%. The business’s revenue was up 128.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.72) EPS. On average, equities research analysts anticipate that Southwest Airlines Co. will post 2.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on LUV shares. Raymond James upgraded Southwest Airlines from an “outperform” rating to a “strong-buy” rating and decreased their price target for the company from $57.00 to $55.00 in a report on Thursday, June 23rd. Morgan Stanley increased their price target on Southwest Airlines from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, April 4th. Susquehanna upgraded Southwest Airlines from a “neutral” rating to a “positive” rating and set a $45.00 price target on the stock in a report on Tuesday, July 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Southwest Airlines in a research report on Friday, April 29th. Finally, assumed coverage on Southwest Airlines in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.94.

Insider Buying and Selling

In related news, Director John T. Montford sold 2,300 shares of the company’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $45.70, for a total transaction of $105,110.00. Following the completion of the sale, the director now directly owns 23,296 shares in the company, valued at approximately $1,064,627.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by company insiders.

About Southwest Airlines

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Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2021, the company operated a total fleet of 728 Boeing 737 aircrafts; and served 121 destinations in 42 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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