Southwest Airlines Co’s filing revealed that its Director GANGWAL RAKESH acquired Company’s shares for reported $19.3 million on Oct 01 ’24. In the deal valued at $29.98 per share,643,788 shares were bought. As a result of this transaction, GANGWAL RAKESH now holds 3,606,311 shares worth roughly $112.7 million.
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Then, GANGWAL RAKESH bought 530,918 shares, generating $15,866,908 in total proceeds. Upon buying the shares at $29.89, the Director now owns 2,962,523 shares.
Before that, GANGWAL RAKESH bought 127,195 shares. Southwest Airlines Co shares valued at $3,750,908 were divested by the Director at a price of $29.49 per share. As a result of the transaction, GANGWAL RAKESH now holds 2,431,605 shares, worth roughly $75.99 million.
TD Cowen reiterated its Southwest Airlines Co [LUV] rating to a Hold in a research note published on September 30, 2024; the price target was $25. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who increased its forecast for the stock in early September from “an In-line” to “an Outperform”. TD Cowen also remained covering LUV and reiterated its “Hold” recommendation on July 17, 2024. Melius maintained its rating on June 10, 2024. It rated LUV as “a Sell”.
Price Performance Review of LUV
On Friday, Southwest Airlines Co [NYSE:LUV] saw its stock jump 2.43% to $31.25. Over the last five days, the stock has gained 5.82%. Southwest Airlines Co shares have risen nearly 8.21% since the year began. Nevertheless, the stocks have risen 14.89% over the past one year. While a 52-week high of $35.18 was reached on 02/22/24, a 52-week low of $21.91 was recorded on 08/05/24. SMA at 50 days reached $27.91, while 200 days put it at $28.87.
Levels Of Support And Resistance For LUV Stock
The 24-hour chart illustrates a support level at 30.73, which if violated will result in even more drops to 30.22. On the upside, there is a resistance level at 31.98. A further resistance level may holdings at 32.72. The Relative Strength Index (RSI) on the 14-day chart is 66.98, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.92, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 23.63%. Stochastics %K at 61.29% indicates the stock is a holding.
How much short interest is there in Southwest Airlines Co?
A steep rise in short interest was recorded in Southwest Airlines Co stocks on 2024-09-13, dropping by -4.98 million shares to a total of 43.28 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 48.26 million shares. There was a decline of -11.5%, which implies that there is a negative sentiment for the stock.
