Sigma Planning Corp Sells 935 Shares of Southwest Airlines Co. (NYSE:LUV)

Sigma Planning Corp reduced its position in shares of Southwest Airlines Co. (NYSE:LUV) by 10.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,843 shares of the airline’s stock after selling 935 shares during the quarter. Sigma Planning Corp’s holdings in Southwest Airlines were worth $232,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc boosted its holdings in shares of Southwest Airlines by 30.4% during the third quarter. Atria Investments Inc now owns 23,351 shares of the airline’s stock worth $692,000 after purchasing an additional 5,450 shares during the period. Assetmark Inc. lifted its holdings in Southwest Airlines by 12.2% in the 3rd quarter. Assetmark Inc. now owns 144,692 shares of the airline’s stock worth $4,287,000 after buying an additional 15,689 shares during the period. Olstein Capital Management L.P. grew its position in shares of Southwest Airlines by 33.7% in the 3rd quarter. Olstein Capital Management L.P. now owns 258,000 shares of the airline’s stock worth $7,645,000 after buying an additional 65,000 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Southwest Airlines by 3.3% during the third quarter. Principal Financial Group Inc. now owns 689,199 shares of the airline’s stock valued at $20,421,000 after buying an additional 21,805 shares during the period. Finally, Alterna Wealth Management Inc. purchased a new stake in Southwest Airlines in the third quarter worth $222,000. Hedge funds and other institutional investors own 80.82% of the company’s stock.

Southwest Airlines Price Performance

Shares of NYSE LUV opened at $32.60 on Friday. The company has a 50 day moving average of $30.29 and a 200 day moving average of $28.43. 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 Co. has a twelve month low of $23.58 and a twelve month high of $35.18. The firm has a market cap of $19.55 billion, a P/E ratio of -465.79, a PEG ratio of 7.57 and a beta of 1.15.

Southwest Airlines (NYSE:LUV) last posted its quarterly earnings results on Thursday, October 24th. The airline reported $0.15 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.77 billion. During the same quarter in the previous year, the business earned $0.38 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. As a group, research analysts expect that Southwest Airlines Co. will post 0.75 EPS for the current fiscal year.

Insider Buying and Selling at Southwest Airlines

In other Southwest Airlines news, major shareholder Elliott Investment Management sold 1,203,920 shares of Southwest Airlines 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rakesh Gangwal bought 643,788 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were bought at an average price of $29.98 per share, with a total value of $19,300,764.24. Following the completion of the purchase, the director now owns 3,606,311 shares in the company, valued at approximately $108,117,203.78. The trade was a 21.73 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on LUV. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $29.00 price objective (down from $32.00) on shares of Southwest Airlines in a research report on Friday, July 26th. TD Cowen boosted their price target on shares of Southwest Airlines from $19.00 to $25.00 and gave the company a “hold” rating in a research report on Monday, September 30th. StockNews.com raised Southwest Airlines from a “sell” rating to a “hold” rating in a research report on Monday, October 28th. Bank of America started coverage on Southwest Airlines in a research report on Monday, November 4th. They issued a “neutral” rating and a $33.00 target price for the company. Finally, The Goldman Sachs Group restated a “sell” rating and set a $28.00 price target on shares of Southwest Airlines in a research report on Friday. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Southwest Airlines presently has a consensus rating of “Hold” and an average price target of $30.78.

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.