Insider Selling: MONTFORD JOHN T, Southwest Airlines Co. [LUV] Director divested 2,300 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Southwest Airlines Co. shares valued at $105,098 were sold by MONTFORD JOHN T on May 27. At $45.70 per share, MONTFORD JOHN T sold 2,300 shares. The insider’s holdings dropped to 23,296 shares worth approximately $0.79 million following the completion of this transaction.

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Also, MONTFORD JOHN T sold 540 shares, netting a total of over 23,697 in proceeds. Following the sale of shares at $43.88 each, the insider now holds 24,442 shares.

Before that, Gilligan Thomas W. had sold 11,188 shares from its account. In a trade valued at $529,601, the Director traded Southwest Airlines Co. shares for $47.34 each. Upon closing the transaction, the insider’s holdings decreased to 11,188 shares, worth approximately $0.27 million.

As published in a research note from Argus on August 15, 2022, Southwest Airlines Co. [LUV] has been rated down from a Buy to a Hold. Analysts at Susquehanna upgraded the stock from ‘”a Neutral”‘ to ‘”a Positive”‘ outlook in a report released in mid July. As of June 23, 2022, Raymond James has increased its “an Outperform” rating to a “Strong buy” for LUV. Earlier on March 03, 2022, Evercore ISI upgraded its rating. Their new recommendation was “an Outperform” for LUV stock which previously was a “an In-line”.

Analyzing LUV’s Price Performance

On Wednesday, Southwest Airlines Co. [NYSE: LUV] plunged -2.76% to $34.12. The stock’s lowest price that day was $34.12, but it reached a high of $35.27 in the same session. During the last five days, there has been a drop of approximately -10.28%. Over the course of the year, Southwest Airlines Co. shares have dropped approximately -20.35%. Shares of the company reached a 52-week high of $50.10 on 04/21/22 and a 52-week low of $34.12 on 09/21/22. A 50-day SMA is recorded $38.32, while a 200-day SMA reached $41.81. Nevertheless, trading volume fell to 6.1 million shares from 4.95 million shares the previous day.

Support And Resistance Levels for Southwest Airlines Co. (LUV)

According to the 24-hour chart, there is a support level at 33.74, which, if violated, would cause prices to drop to 33.35. In the upper region, resistance lies at 34.89. The next price resistance is at 35.65. RSI (Relative Strength Index) is 34.16 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.75, which suggests the price will decrease in the coming days. Percent R is at 100.00%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Southwest Airlines Co. subject to short interest?

Stocks of Southwest Airlines Co. saw a sharp steep in short interest on Jul 14, 2022 dropping by -2.5 million shares to 10.21 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 12.71 million shares. A decline of -24.49% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.61 of the overall float, the days-to-cover ratio (short ratio) decline to 1.61.

Which companies own the most shares of Southwest Airlines Co. (LUV)?

According to The Vanguard Group, Inc. filings, the company currently owns 62,508,202 shares, which is about 10.54% of the total LUV shares outstanding. The investor’s shares have appreciated by 1,162,859 from its previous 13-F filing of 61345343.0 shares. With the completion of the sale transaction, PRIMECAP Management Co.’s stake is now worth $1,942,161,211. SSgA Funds Management, Inc. reduced a -1.58% interest valued at $1.47 billion while T. Rowe Price Associates, Inc. purchased a 4,992,817 stake. A total of 134,339 shares of Southwest Airlines Co. were bought by BlackRock Fund Advisors during the quarter, and 830,085 were bought by Fidelity Management & Research Co. In its current portfolio, Columbia Management Investment Ad holds 15,828,622 shares valued at $580.91 million.


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