Schonfeld Strategic Advisors LLC Buys 21,430 Shares of Southwest Airlines Co. (NYSE:LUV)

Schonfeld Strategic Advisors LLC increased its position in Southwest Airlines Co. (NYSE:LUV - Free Report) by 278.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,130 shares of the airline's stock after buying an additional 21,430 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Southwest Airlines were worth $979,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Kestra Investment Management LLC bought a new position in Southwest Airlines in the 4th quarter worth about $26,000. Raleigh Capital Management Inc. boosted its position in shares of Southwest Airlines by 186.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 883 shares of the airline's stock valued at $30,000 after acquiring an additional 575 shares during the last quarter. Sanctuary Wealth Management L.L.C. lifted 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 worth $30,000 after buying an additional 589 shares during the last quarter. VSM Wealth Advisory LLC bought a new stake in shares of Southwest Airlines during the fourth quarter worth $42,000. Finally, Millstone Evans Group LLC bought a new stake in shares of Southwest Airlines during the fourth quarter worth $53,000. 80.82% of the stock is owned by hedge funds and other institutional investors.

Southwest Airlines Trading Up 0.4%

Shares of LUV traded up $0.11 during trading hours on Monday, reaching $31.29. The stock had a trading volume of 5,670,227 shares, compared to its average volume of 9,980,958. The company has a quick ratio of 0.85, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. Southwest Airlines Co. has a 52 week low of $23.58 and a 52 week high of $36.12. The firm has a 50-day moving average of $29.22 and a 200 day moving average of $31.03. The company has a market cap of $17.83 billion, a P/E ratio of 43.46, a P/E/G ratio of 0.97 and a beta of 1.18.

Southwest Airlines (NYSE:LUV - Get Free Report) last announced 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. Southwest Airlines had a return on equity of 5.77% and a net margin of 1.69%. The company had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.47 billion. During the same quarter last year, the company earned ($0.36) EPS. Southwest Airlines's revenue for the quarter was up 1.6% compared to the same quarter last year. On average, sell-side analysts expect that Southwest Airlines Co. will post 1.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on LUV shares. Bank of America reissued an "underperform" rating and issued a $31.00 price target (down previously from $33.00) on shares of Southwest Airlines in a report on Friday, January 17th. Raymond James reiterated an "outperform" rating and set a $40.00 price target (down from $42.00) on shares of Southwest Airlines in a research report on Tuesday, April 29th. Melius raised Southwest Airlines from a "sell" rating to a "hold" rating in a research note on Thursday, March 20th. Barclays lowered their price target on Southwest Airlines from $32.00 to $26.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Finally, Citigroup reduced their price target on Southwest Airlines from $30.00 to $23.00 and set a "sell" rating on the stock in a research report on Monday, April 14th. Six analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $30.43.

Insider Activity at Southwest Airlines

In other news, Director David P. Hess bought 7,500 shares of the company's stock in a transaction that occurred on Monday, April 28th. The shares were acquired at an average price of $26.52 per share, for a total transaction of $198,900.00. Following the completion of the acquisition, the director now directly owns 23,156 shares in the company, valued at approximately $614,097.12. This represents a 47.90% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gregg A. Saretsky bought 3,670 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was purchased at an average price of $27.29 per share, for a total transaction of $100,154.30. Following the acquisition, the director now owns 14,881 shares of the company's stock, valued at $406,102.49. This trade represents a 32.74% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 16,670 shares of company stock valued at $464,944 over the last three months. 0.79% of the stock is owned by insiders.

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.