The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. 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 $1.88 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 $92.99 million.
Analysts at Jefferies upgraded the stock from ‘”an Underperform”‘ to ‘”a Hold”‘ outlook in a report released in early October. As of September 30, 2024, TD Cowen has reiterated its “Hold” rating for LUV. Earlier on September 03, 2024, Evercore ISI upgraded its rating. Their new recommendation was “an Outperform” for LUV stock which previously was a “an In-line”.
Analyzing LUV Stock Performance
During the last five days, there has been a drop of approximately -0.25%. Over the course of the year, Southwest Airlines Co shares have jumped approximately 8.69%. 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 $29.89, while a 200-day SMA reached $29.02. Nevertheless, trading volume fell to 8.16 million shares from 5.79 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 30.95, which, if violated, would cause prices to drop to 30.51. In the upper region, resistance lies at 31.86. The next price resistance is at 32.34. RSI (Relative Strength Index) is 57.51 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.14, which suggests the price will decrease in the coming days. Percent R is at 15.36%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
