Southwest Airlines Co’s recent filing unveils 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 $106.13 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 $71.56 million.
Jefferies upgraded its Southwest Airlines Co [LUV] rating to a Hold from a an Underperform in a research note published on October 09, 2024; the price target was increased to $32 from $24. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in late September has reiterated a ‘”a Hold”‘ rating for it. Evercore ISI also remained covering LUV and has increased its forecast on September 03, 2024 with a “an Outperform” recommendation from previously “an In-line” rating. TD Cowen maintained its rating on July 17, 2024. It rated LUV as “a Hold”.
Price Performance Review of LUV
On Friday, Southwest Airlines Co [NYSE:LUV] saw its stock jump 1.41% to $29.43. Over the last five days, the stock has lost -5.00%. Southwest Airlines Co shares have risen nearly 1.90% since the year began. Nevertheless, the stocks have risen 24.70% 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 $29.34, while 200 days put it at $28.97.
Levels Of Support And Resistance For LUV Stock
The 24-hour chart illustrates a support level at 29.16, which if violated will result in even more drops to 28.88. On the upside, there is a resistance level at 29.67. A further resistance level may holdings at 29.91. The Relative Strength Index (RSI) on the 14-day chart is 45.99, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.65, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 71.76%. Stochastics %K at 25.84% 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 2024-10-15, dropping by -0.62 million shares to a total of 42.66 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 43.28 million shares. There was a decline of -1.44%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on June 10, 2024 when Melius resumed its ‘”a Sell”‘ rating for the stock and retained the price target to $26.
