Aigen Investment Management LP Makes New $537,000 Investment in Southwest Airlines Co. (NYSE:LUV)

Aigen Investment Management LP purchased a new stake in Southwest Airlines Co. (NYSE:LUV - Free Report) in the third quarter, according to its most recent filing with the SEC. The fund purchased 18,135 shares of the airline's stock, valued at approximately $537,000.

Several other hedge funds and other institutional investors have also modified their holdings of LUV. Ashton Thomas Private Wealth LLC bought a new stake in Southwest Airlines in the 2nd quarter valued at about $29,000. CVA Family Office LLC raised its stake in shares of Southwest Airlines by 179.5% during the second quarter. CVA Family Office LLC now owns 1,034 shares of the airline's stock valued at $30,000 after purchasing an additional 664 shares in the last quarter. Innealta Capital LLC acquired a new position in Southwest Airlines during the 2nd quarter valued at about $33,000. Ashton Thomas Securities LLC acquired a new stake in shares of Southwest Airlines in the 3rd quarter worth approximately $33,000. Finally, AM Squared Ltd acquired a new position in Southwest Airlines during the second quarter worth about $37,000. 80.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LUV has been the subject of several recent research reports. Barclays boosted their price target on Southwest Airlines from $27.00 to $32.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 15th. Sanford C. Bernstein reduced their price target on shares of Southwest Airlines from $26.00 to $24.00 and set a "market perform" rating on the stock in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their price target on Southwest Airlines from $20.00 to $26.00 and gave the stock a "neutral" rating in a research report on Friday, October 25th. Bank of America assumed coverage on shares of Southwest Airlines in a research note on Monday, November 4th. They set a "neutral" rating and a $33.00 price objective on the stock. Finally, Jefferies Financial Group upgraded shares of Southwest Airlines from an "underperform" rating to a "hold" rating and upped their price objective for the company from $24.00 to $32.00 in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $30.96.

Insiders Place Their Bets

In other news, major shareholder Elliott Investment Management sold 1,203,920 shares of the company's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $29.83, for a total transaction of $35,912,933.60. Following the completion of the sale, the insider now directly owns 59,912,580 shares in the company, valued at approximately $1,787,192,261.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Elliott Investment Management sold 1,203,920 shares of the business's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $29.83, for a total transaction of $35,912,933.60. Following the completion of the sale, the insider now directly owns 59,912,580 shares of the company's stock, valued at $1,787,192,261.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rakesh Gangwal acquired 643,788 shares of Southwest Airlines stock in a transaction on Tuesday, October 1st. The stock was acquired at an average price of $29.98 per share, with a total value of $19,300,764.24. Following the purchase, the director now directly owns 3,606,311 shares in the company, valued at approximately $108,117,203.78. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.33% of the company's stock.

Southwest Airlines Stock Performance

Southwest Airlines stock traded up $0.02 during trading hours on Thursday, reaching $32.40. 3,750,226 shares of the company were exchanged, compared to its average volume of 9,265,131. The stock has a 50-day moving average of $30.18 and a 200 day moving average of $28.36. The firm has a market cap of $19.43 billion, a price-to-earnings ratio of -462.57, a PEG ratio of 7.49 and a beta of 1.15. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 0.49. Southwest Airlines Co. has a 12 month low of $23.58 and a 12 month high of $35.18.

Southwest Airlines (NYSE:LUV - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The airline reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.10. Southwest Airlines had a negative net margin of 0.06% and a positive return on equity of 4.56%. The firm had revenue of $6.87 billion for the quarter, compared to analysts' expectations of $6.77 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. The company's quarterly revenue was up 5.3% compared to the same quarter last year. As a group, research analysts anticipate that Southwest Airlines Co. will post 0.75 earnings per share for the current year.

Southwest Airlines Company 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.