Nuance Investments LLC Has $20.78 Million Stock Holdings in Southwest Airlines Co. (NYSE:LUV)

Nuance Investments LLC lowered its position in shares of Southwest Airlines Co. (NYSE:LUV) by 7.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 701,400 shares of the airline’s stock after selling 52,636 shares during the quarter. Nuance Investments LLC’s holdings in Southwest Airlines were worth $20,782,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of LUV. Ashton Thomas Private Wealth LLC acquired a new position in shares of Southwest Airlines in the 2nd quarter valued at $29,000. CVA Family Office LLC lifted its holdings in Southwest Airlines by 179.5% during the second quarter. CVA Family Office LLC now owns 1,034 shares of the airline’s stock worth $30,000 after acquiring an additional 664 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Southwest Airlines in the third quarter valued at about $33,000. Innealta Capital LLC bought a new stake in shares of Southwest Airlines in the second quarter worth about $33,000. Finally, AM Squared Ltd acquired a new stake in shares of Southwest Airlines during the second quarter worth about $37,000. Institutional investors own 80.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LUV. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $29.00 price objective (down from $32.00) on shares of Southwest Airlines in a research report on Friday, July 26th. Susquehanna upped their price target on shares of Southwest Airlines from $25.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. BNP Paribas upgraded shares of Southwest Airlines to a “strong sell” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. boosted their price objective on shares of Southwest Airlines from $20.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Finally, TD Cowen increased their target price on Southwest Airlines from $19.00 to $25.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Southwest Airlines currently has a consensus rating of “Hold” and an average price target of $30.78.

Southwest Airlines Trading Up 0.1 %

Shares of Southwest Airlines stock opened at $32.36 on Wednesday. Southwest Airlines Co. has a 12-month low of $23.58 and a 12-month high of $35.18. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average is $30.40 and its 200-day moving average is $28.56. The stock has a market cap of $19.41 billion, a P/E ratio of -462.29, a P/E/G ratio of 7.62 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 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.10. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $0.38 earnings per share. Equities research analysts predict that Southwest Airlines Co. will post 0.75 earnings per share for the current fiscal year.

Insider Transactions at Southwest Airlines

In related news, Director Rakesh Gangwal purchased 643,788 shares of the stock in a transaction on Tuesday, October 1st. The shares were purchased at an average cost of $29.98 per share, with a total value of $19,300,764.24. Following the acquisition, the director now directly owns 3,606,311 shares in the company, valued at $108,117,203.78. The trade was a 21.73 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Elliott Investment Management sold 1,203,920 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $29.83, for a total value of $35,912,933.60. Following the sale, the insider now owns 59,912,580 shares of the company’s stock, valued at approximately $1,787,192,261.40. This represents a 1.97 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate 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.