Penserra Capital Management LLC Has $570,000 Stock Holdings in Southwest Airlines Co. (NYSE:LUV)

Penserra Capital Management LLC cut its position in shares of Southwest Airlines Co. (NYSE:LUV - Free Report) by 37.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,015 shares of the airline's stock after selling 10,039 shares during the quarter. Penserra Capital Management LLC's holdings in Southwest Airlines were worth $570,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Sanctuary Wealth Management L.L.C. raised its position in Southwest Airlines by 196.3% in the fourth quarter. Sanctuary Wealth Management L.L.C. now owns 889 shares of the airline's stock valued at $30,000 after purchasing an additional 589 shares during the period. VSM Wealth Advisory LLC acquired a new stake in shares of Southwest Airlines in the 4th quarter valued at about $42,000. Quent Capital LLC lifted its stake in Southwest Airlines by 78.6% during the first quarter. Quent Capital LLC now owns 1,472 shares of the airline's stock worth $49,000 after purchasing an additional 648 shares during the last quarter. Millstone Evans Group LLC bought a new stake in shares of Southwest Airlines during the 4th quarter valued at about $53,000. Finally, Optiver Holding B.V. lifted its holdings in shares of Southwest Airlines by 370.3% in the 4th quarter. Optiver Holding B.V. now owns 1,919 shares of the airline's stock worth $65,000 after purchasing an additional 1,511 shares during the last quarter. Hedge funds and other institutional investors own 80.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LUV. Deutsche Bank Aktiengesellschaft upgraded Southwest Airlines from a "hold" rating to a "buy" rating and set a $40.00 target price on the stock in a research report on Thursday, May 29th. UBS Group raised their price target on shares of Southwest Airlines from $27.00 to $34.00 and gave the stock a "neutral" rating in a report on Monday. JPMorgan Chase & Co. raised their price target on Southwest Airlines from $25.00 to $30.00 and gave the stock an "underweight" rating in a research note on Tuesday, March 18th. Melius upgraded shares of Southwest Airlines from a "sell" rating to a "hold" rating in a report on Thursday, March 20th. Finally, Melius Research raised Southwest Airlines from a "sell" rating to a "hold" rating and boosted their price target for the stock from $28.00 to $34.00 in a research report on Thursday, March 20th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $32.81.

Southwest Airlines Price Performance

LUV stock traded down $0.22 during trading on Friday, hitting $37.13. The company had a trading volume of 10,373,601 shares, compared to its average volume of 10,342,677. The company has a market cap of $21.16 billion, a P/E ratio of 32.20, a P/E/G ratio of 5.67 and a beta of 1.21. The company has a fifty day moving average price of $32.33 and a two-hundred day moving average price of $31.14. Southwest Airlines Co. has a fifty-two week low of $23.58 and a fifty-two week high of $37.85. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 0.44.

Southwest Airlines (NYSE:LUV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The airline reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.05. The firm had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.47 billion. Southwest Airlines had a net margin of 1.98% and a return on equity of 7.27%. The company's quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.36) EPS. Equities research analysts expect that Southwest Airlines Co. will post 1.55 earnings per share for the current fiscal year.

Southwest Airlines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were issued a $0.18 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.72 annualized dividend and a yield of 1.94%. Southwest Airlines's dividend payout ratio (DPR) is presently 84.71%.

Insider Activity

In other news, Director David P. Hess acquired 7,500 shares of the firm's stock in a transaction that occurred on Monday, April 28th. The stock was acquired at an average cost of $26.52 per share, for a total transaction of $198,900.00. Following the completion of the acquisition, the director owned 23,156 shares in the company, valued at $614,097.12. This represents a 47.90% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gregg A. Saretsky acquired 3,670 shares of the stock in a transaction dated Wednesday, April 30th. The stock was acquired at an average price of $27.29 per share, for a total transaction of $100,154.30. Following the completion of the acquisition, the director directly owned 14,881 shares of the company's stock, valued at $406,102.49. The trade was a 32.74% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.79% of the company's stock.

Southwest Airlines 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.