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

Concurrent Investment Advisors LLC decreased its stake in Southwest Airlines Co. (NYSE:LUV) by 5.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,792 shares of the airline’s stock after selling 1,102 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Southwest Airlines were worth $598,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in LUV. Sequoia Financial Advisors LLC increased its holdings in shares of Southwest Airlines by 15.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 12,497 shares of the airline’s stock worth $370,000 after buying an additional 1,700 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Southwest Airlines by 1.5% in the 3rd quarter. Private Advisor Group LLC now owns 48,422 shares of the airline’s stock valued at $1,435,000 after purchasing an additional 697 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Southwest Airlines by 2,299.6% in the 3rd quarter. International Assets Investment Management LLC now owns 116,238 shares of the airline’s stock valued at $3,444,000 after purchasing an additional 111,394 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Southwest Airlines in the 3rd quarter valued at $1,611,000. Finally, Allworth Financial LP boosted its stake in shares of Southwest Airlines by 98.4% in the 3rd quarter. Allworth Financial LP now owns 29,222 shares of the airline’s stock valued at $866,000 after purchasing an additional 14,494 shares in the last quarter. Institutional investors own 80.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LUV. StockNews.com raised shares of Southwest Airlines from a “sell” rating to a “hold” rating in a research note on Monday, October 28th. Barclays upped their price objective on shares of Southwest Airlines from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Susquehanna dropped their price target on shares of Southwest Airlines from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. UBS Group increased their price target on shares of Southwest Airlines from $27.00 to $29.00 and gave the company a “sell” rating in a research report on Tuesday, January 7th. Finally, Citigroup reissued a “sell” rating and set a $29.50 price target (down previously from $31.50) on shares of Southwest Airlines in a research report on Thursday, January 16th. Six research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $31.78.

Southwest Airlines Trading Up 1.3 %

NYSE:LUV opened at $30.19 on Tuesday. The company has a 50-day moving average price of $32.06 and a 200-day moving average price of $30.91. Southwest Airlines Co. has a 12 month low of $23.58 and a 12 month high of $36.12. 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 stock has a market cap of $17.89 billion, a price-to-earnings ratio of 41.93, a P/E/G ratio of 0.97 and a beta of 1.14.

Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, January 30th. The airline reported $0.56 EPS for the quarter, topping the consensus estimate of $0.45 by $0.11. Southwest Airlines had a net margin of 1.69% and a return on equity of 5.77%. Equities analysts predict that Southwest Airlines Co. will post 1.55 EPS for the current year.

Southwest Airlines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.72 annualized dividend and a dividend yield of 2.38%. Southwest Airlines’s payout ratio is 100.00%.

Insider Buying and Selling

In related news, insider Linda B. Rutherford sold 3,849 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $34.40, for a total value of $132,405.60. Following the completion of the transaction, the insider now directly owns 89,376 shares in the company, valued at $3,074,534.40. This trade represents a 4.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is owned by company insiders.

About Southwest Airlines

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.