Concurrent Investment Advisors LLC Sells 1,102 Shares of Southwest Airlines Co. (NYSE:LUV)

Concurrent Investment Advisors LLC reduced its stake in Southwest Airlines Co. (NYSE:LUV) by 5.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,792 shares of the airline’s stock after selling 1,102 shares during the period. Concurrent Investment Advisors LLC’s holdings in Southwest Airlines were worth $598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LUV. Kestra Investment Management LLC bought a new stake in shares of Southwest Airlines during the fourth quarter worth about $26,000. Raleigh Capital Management Inc. increased its position in shares of Southwest Airlines by 186.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 883 shares of the airline’s stock worth $30,000 after acquiring an additional 575 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Southwest Airlines during the third quarter worth about $33,000. TD Private Client Wealth LLC increased its position in shares of Southwest Airlines by 41.1% during the third quarter. TD Private Client Wealth LLC now owns 1,184 shares of the airline’s stock worth $35,000 after acquiring an additional 345 shares in the last quarter. Finally, New England Capital Financial Advisors LLC boosted its holdings in Southwest Airlines by 35.3% during the third quarter. New England Capital Financial Advisors LLC now owns 1,923 shares of the airline’s stock worth $57,000 after purchasing an additional 502 shares during the last quarter. 80.82% of the stock is owned by institutional investors.

Southwest Airlines Stock Performance

Shares of LUV stock opened at $30.19 on Tuesday. The stock has a market capitalization of $17.89 billion, a P/E ratio of 41.93, a PEG ratio of 0.97 and a beta of 1.14. The company has a current ratio of 0.92, a quick ratio of 0.85 and a debt-to-equity ratio of 0.49. The firm’s 50 day moving average is $32.06 and its 200 day moving average is $30.91. Southwest Airlines Co. has a 12 month low of $23.58 and a 12 month high of $36.12.

Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Thursday, January 30th. The airline reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. Southwest Airlines had a net margin of 1.69% and a return on equity of 5.77%. On average, sell-side analysts anticipate that Southwest Airlines Co. will post 1.55 earnings per share for the current year.

Southwest Airlines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Wednesday, March 12th. Southwest Airlines’s dividend payout ratio (DPR) is presently 100.00%.

Analyst Ratings Changes

LUV has been the topic of several analyst reports. StockNews.com upgraded shares of Southwest Airlines from a “sell” rating to a “hold” rating in a report on Monday, October 28th. The Goldman Sachs Group restated a “sell” rating and set a $28.00 price target on shares of Southwest Airlines in a report on Friday, November 15th. UBS Group boosted their price target on shares of Southwest Airlines from $27.00 to $29.00 and gave the stock a “sell” rating in a report on Tuesday, January 7th. Citigroup restated a “sell” rating and set a $29.50 price target (down from $31.50) on shares of Southwest Airlines in a report on Thursday, January 16th. Finally, Morgan Stanley restated an “overweight” rating and set a $42.00 price target on shares of Southwest Airlines in a report on Wednesday, December 11th. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.78.

Insider Buying and Selling

In related news, insider Linda B. Rutherford sold 3,849 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $34.40, for a total transaction of $132,405.60. Following the sale, the insider now owns 89,376 shares of the company’s stock, valued at approximately $3,074,534.40. This represents a 4.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.33% of the stock is currently owned by insiders.

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.