ProShare Advisors LLC Sells 2,497 Shares of Southwest Airlines Co. $LUV

by · The Cerbat Gem

ProShare Advisors LLC lowered its position in Southwest Airlines Co. (NYSE:LUV – Free Report) by 1.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 134,668 shares of the airline’s stock after selling 2,497 shares during the period. ProShare Advisors LLC’s holdings in Southwest Airlines were worth $4,369,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in Southwest Airlines in the second quarter valued at $31,000. Pandora Wealth Inc. bought a new position in shares of Southwest Airlines in the 1st quarter worth about $34,000. Hantz Financial Services Inc. lifted its stake in shares of Southwest Airlines by 81.4% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,056 shares of the airline’s stock valued at $34,000 after purchasing an additional 474 shares during the period. Cheviot Value Management LLC bought a new stake in shares of Southwest Airlines during the 1st quarter valued at about $42,000. Finally, Armstrong Advisory Group Inc. bought a new stake in shares of Southwest Airlines during the 2nd quarter valued at about $42,000. 80.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Jefferies Financial Group boosted their price target on Southwest Airlines from $30.00 to $31.00 and gave the company a “hold” rating in a research note on Wednesday, October 1st. Susquehanna lifted their price objective on shares of Southwest Airlines from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. HSBC downgraded shares of Southwest Airlines from a “hold” rating to a “reduce” rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. raised their price target on shares of Southwest Airlines from $35.00 to $36.00 and gave the stock an “underweight” rating in a report on Friday, October 24th. Finally, Hsbc Global Res raised shares of Southwest Airlines to a “moderate sell” rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, Southwest Airlines currently has a consensus rating of “Hold” and a consensus price target of $33.73.

Read Our Latest Research Report on Southwest Airlines

Southwest Airlines Stock Performance

Shares of LUV stock opened at $32.83 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $32.19 and a two-hundred day simple moving average of $32.29. Southwest Airlines Co. has a 12 month low of $23.82 and a 12 month high of $37.96. The firm has a market capitalization of $16.98 billion, a PE ratio of 50.50, a price-to-earnings-growth ratio of 0.75 and a beta of 1.23.

Southwest Airlines (NYSE:LUV – Get Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The airline reported ($0.38) earnings per share (EPS) for the quarter. The business had revenue of $6.17 billion for the quarter. Southwest Airlines had a net margin of 1.38% and a return on equity of 6.39%. Analysts forecast that Southwest Airlines Co. will post 1.55 EPS for the current fiscal year.

Southwest Airlines announced that its Board of Directors has approved a share repurchase program on Wednesday, July 23rd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the airline to purchase up to 9.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

About Southwest Airlines

(Free Report)

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.

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