Southwest Airlines (LUV)

• Market cap: $20B
• 1 day: 1.53%
• 5 days: 0.85%
• 1 month: 4.75%
• 3 months: 14.60%
• 6 months: 18.60%
• Year to date: 16.85%
• 1 year: 14.48%
• 5 years: -39.08%
• 10 years: -19.34%
• Sector: Industrials
• Industry: Air Transportation, Scheduled

About: Southwest Airlines is the largest domestic air carrier in the United States by passengers boarded. Southwest operates nearly 800 aircraft in an all-Boeing 737 fleet. Despite offering some longer routes and a few perks for business travelers, the airline predominantly specializes in short-haul, leisure flights operated in a single, open-seating cabin configuration in a point-to-point network. In 2025, Southwest will modify its cabins to offer some seats with extra legroom and will update its ticketing process to offer assigned seats.

Employees: 73,463

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

31% more first-time investments, than exits

New positions opened: 106 | Existing positions closed: 81

13% more funds holding in top 10

Funds holding in top 10: 8 [Q2] → 9 (+1) [Q3]

3% more funds holding

Funds holding: 748 [Q2] → 773 (+25) [Q3]

3% more capital invested

Capital invested by funds: $15.6B [Q2] → $16B (+$467M) [Q3]

0.24% less ownership

Funds ownership: 90.87% [Q2] → 90.62% (-0.24%) [Q3]

15% less call options, than puts

Call options by funds: $485M | Put options by funds: $572M

30% less repeat investments, than reductions

Existing positions increased: 217 | Existing positions reduced: 312

Research analyst outlook

10 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $25 25% downside
• Avg. target: $31 7% downside
• High target: $42 26% upside

10 analyst ratings

• positive: 1 10%
• neutral: 7 70%
• negative: 2 20%

Bernstein David Vernon 64% 1-year accuracy 9 / 14 met price target	1% downside $33	Market Perform Maintained	11 Dec 2024
Morgan Stanley Ravi Shanker 53% 1-year accuracy 16 / 30 met price target	26% upside $42	Overweight Reinstated	11 Dec 2024
Barclays Brandon Oglenski 41% 1-year accuracy 26 / 64 met price target	5% upside $35	Equal-Weight Maintained	6 Dec 2024
UBS Thomas Wadewitz 36% 1-year accuracy 9 / 25 met price target	19% downside $27	Sell Assumed	26 Nov 2024
Goldman Sachs Catherine O'Brien 29% 1-year accuracy 2 / 7 met price target	16% downside $28	Sell Reinstated	15 Nov 2024