Southwest Airlines Co’s filing revealed that its 10% Owner Elliott Investment Management unloaded Company’s shares for reported $35.91 million on Oct 28 ’24. In the deal valued at $29.83 per share,1,203,920 shares were sold. As a result of this transaction, Elliott Investment Management now holds 59,912,580 shares worth roughly $1.83 billion.
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Then, GANGWAL RAKESH bought 643,788 shares, generating $19,300,400 in total proceeds. Upon buying the shares at $29.98, the Director now owns 3,606,311 shares.
Before that, GANGWAL RAKESH bought 530,918 shares. Southwest Airlines Co shares valued at $15,866,908 were divested by the Director at a price of $29.89 per share. As a result of the transaction, GANGWAL RAKESH now holds 2,962,523 shares, worth roughly $90.68 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 0.10% to $30.61. Over the last five days, the stock has gained 4.01%. Southwest Airlines Co shares have risen nearly 5.99% since the year began. Nevertheless, the stocks have risen 37.70% 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 $29.76, while 200 days put it at $29.01.
Levels Of Support And Resistance For LUV Stock
The 24-hour chart illustrates a support level at 30.41, which if violated will result in even more drops to 30.22. On the upside, there is a resistance level at 30.92. A further resistance level may holdings at 31.24. The Relative Strength Index (RSI) on the 14-day chart is 53.01, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.42, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 37.73%. Stochastics %K at 70.76% 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.
