Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Southwest Airlines Co shares valued at $35,912,934 were sold by Elliott Investment Management on Oct 28 ’24. At $29.83 per share, Elliott Investment Management sold 1,203,920 shares. The insider’s holdings dropped to 59,912,580 shares worth approximately $1.89 billion following the completion of this transaction.
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Also, GANGWAL RAKESH purchased 643,788 shares, netting a total of over 19,300,400 in proceeds. Following the buying of shares at $29.98 each, the insider now holds 3,606,311 shares.
Before that, GANGWAL RAKESH had added 530,918 shares to its account. In a trade valued at $15,866,908, the Director bought Southwest Airlines Co shares for $29.89 each. Upon closing the transaction, the insider’s holdings increased to 530,918 shares, worth approximately $93.23 million.
As published in a research note from Jefferies on October 09, 2024, Southwest Airlines Co [LUV] has been rated up from an Underperform to a Hold and the price target has been revised to $32 from $24. Analysts at TD Cowen resumed the stock at ‘”a Hold”‘ outlook in a report released in late September. As of September 03, 2024, Evercore ISI has increased its “an In-line” rating to a “an Outperform” for LUV. Earlier on July 17, 2024, TD Cowen resumed its rating. Their recommendation was “a Hold” for LUV stock.
Analyzing LUV Stock Performance
During the last five days, there has been a surge of approximately 2.41%. Over the course of the year, Southwest Airlines Co shares have jumped approximately 8.97%. Shares of the company reached a 52-week high of $35.18 on 02/22/24 and a 52-week low of $23.58 on 08/05/24. A 50-day SMA is recorded $29.61, while a 200-day SMA reached $29.00. Nevertheless, trading volume fell to 7.49 million shares from 9.44 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 31.07, which, if violated, would cause prices to drop to 30.68. In the upper region, resistance lies at 31.85. The next price resistance is at 32.24. RSI (Relative Strength Index) is 59.69 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.48, which suggests the price will decrease in the coming days. Percent R is at 11.35%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
