Sanctuary Wealth Management L.L.C. Raises Holdings in Southwest Airlines Co. (NYSE:LUV)

Sanctuary Wealth Management L.L.C. boosted its holdings in Southwest Airlines Co. (NYSE:LUV) by 196.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 889 shares of the airline’s stock after acquiring an additional 589 shares during the quarter. Sanctuary Wealth Management L.L.C.’s holdings in Southwest Airlines were worth $30,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. DnB Asset Management AS grew its holdings in shares of Southwest Airlines by 22.9% in the 4th quarter. DnB Asset Management AS now owns 147,565 shares of the airline’s stock worth $4,961,000 after acquiring an additional 27,520 shares during the period. Level Four Advisory Services LLC purchased a new stake in shares of Southwest Airlines in the 4th quarter worth about $264,000. New Age Alpha Advisors LLC acquired a new stake in Southwest Airlines in the 4th quarter valued at about $5,466,000. Norges Bank purchased a new position in Southwest Airlines during the 4th quarter valued at about $57,724,000. Finally, NEOS Investment Management LLC raised its position in Southwest Airlines by 31.7% during the fourth quarter. NEOS Investment Management LLC now owns 36,225 shares of the airline’s stock worth $1,218,000 after acquiring an additional 8,712 shares during the last quarter. Institutional investors and hedge funds own 80.82% of the company’s stock.

Insiders Place Their Bets

In other news, Director C. David Cush acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $30.03 per share, for a total transaction of $150,150.00. Following the completion of the acquisition, the director now owns 19,011 shares in the company, valued at approximately $570,900.33. The trade was a 35.69 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Southwest Airlines Stock Down 1.0 %

LUV stock opened at $33.58 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.85. The firm has a market cap of $19.90 billion, a PE ratio of 46.63, a P/E/G ratio of 0.97 and a beta of 1.10. Southwest Airlines Co. has a 12 month low of $23.58 and a 12 month high of $36.12. The firm has a 50 day simple moving average of $31.33 and a 200 day simple moving average of $31.54.

Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, January 30th. The airline reported $0.56 earnings per share 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 research analysts forecast that Southwest Airlines Co. will post 1.55 earnings per share for the current fiscal year.

Southwest Airlines Dividend Announcement

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 given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, March 12th. Southwest Airlines’s payout ratio is 100.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on shares of Southwest Airlines from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Tuesday, March 18th. Barclays boosted their price target on Southwest Airlines from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Citigroup lifted their price target on Southwest Airlines from $27.00 to $30.00 and gave the company a “sell” rating in a report on Friday. Melius Research upgraded shares of Southwest Airlines from a “sell” rating to a “hold” rating and lifted their price target for the company from $28.00 to $34.00 in a report on Thursday, March 20th. Finally, Morgan Stanley restated an “overweight” rating and set a $42.00 price target on shares of Southwest Airlines in a research note on Wednesday, December 11th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Southwest Airlines has a consensus rating of “Hold” and an average target price of $32.54.

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.