Southwest Airlines Co. (NYSE:LUV) Short Interest Down 15.3% in March

Southwest Airlines Co. (NYSE:LUV) was the recipient of a large decrease in short interest in March. As of March 15th, there was short interest totalling 35,280,000 shares, a decrease of 15.3% from the February 28th total of 41,650,000 shares. Based on an average daily trading volume, of 10,220,000 shares, the days-to-cover ratio is currently 3.5 days. Approximately 6.0% of the shares of the company are sold short.

Southwest Airlines Trading Up 0.1 %

NYSE LUV opened at $33.63 on Tuesday. Southwest Airlines has a twelve month low of $23.58 and a twelve month high of $36.12. The business’s fifty day moving average is $31.36 and its 200 day moving average is $31.60. The company has a quick ratio of 0.85, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The company has a market cap of $19.93 billion, a price-to-earnings ratio of 46.70, a price-to-earnings-growth ratio of 0.97 and a beta of 1.10.

Southwest Airlines (NYSE:LUV) last released its quarterly 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 return on equity of 5.77% and a net margin of 1.69%. As a group, sell-side analysts expect that Southwest Airlines will post 1.55 EPS for the current fiscal year.

Southwest Airlines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.14%. The ex-dividend date is Wednesday, March 12th. Southwest Airlines’s dividend payout ratio (DPR) is currently 100.00%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LUV. Bank of America reissued an “underperform” rating and issued a $31.00 price objective (down previously from $33.00) on shares of Southwest Airlines in a report on Friday, January 17th. Susquehanna cut their price target on Southwest Airlines from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Melius upgraded Southwest Airlines from a “sell” rating to a “hold” rating in a research note on Thursday, March 20th. Morgan Stanley reiterated an “overweight” rating and set a $42.00 target price on shares of Southwest Airlines in a research report on Wednesday, December 11th. Finally, Sanford C. Bernstein raised their price target on Southwest Airlines from $30.00 to $33.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 11th. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $32.54.

Insider Buying and Selling at Southwest Airlines

In other Southwest Airlines news, Director C. David Cush bought 5,000 shares of Southwest Airlines stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $30.03 per share, with a total value of $150,150.00. Following the completion of the transaction, the director now owns 19,011 shares in the company, valued at $570,900.33. The trade was a 35.69 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Southwest Airlines

A number of hedge funds have recently modified their holdings of the business. CWC Advisors LLC. raised its position in Southwest Airlines by 2.4% during the 4th quarter. CWC Advisors LLC. now owns 13,310 shares of the airline’s stock worth $447,000 after purchasing an additional 311 shares during the last quarter. TD Private Client Wealth LLC raised its position in shares of Southwest Airlines by 41.1% during the third quarter. TD Private Client Wealth LLC now owns 1,184 shares of the airline’s stock worth $35,000 after acquiring an additional 345 shares during the last quarter. Avior Wealth Management LLC lifted its stake in shares of Southwest Airlines by 3.8% in the fourth quarter. Avior Wealth Management LLC now owns 10,116 shares of the airline’s stock worth $340,000 after acquiring an additional 369 shares during the period. V Square Quantitative Management LLC boosted its holdings in Southwest Airlines by 3.9% in the fourth quarter. V Square Quantitative Management LLC now owns 9,822 shares of the airline’s stock valued at $330,000 after acquiring an additional 369 shares during the last quarter. Finally, Wahed Invest LLC increased its position in Southwest Airlines by 11.5% during the 3rd quarter. Wahed Invest LLC now owns 3,638 shares of the airline’s stock valued at $108,000 after purchasing an additional 375 shares during the period. Institutional investors and hedge funds own 80.82% of the company’s stock.

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.