Southwest Airlines Co’s recent filing unveils 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 $1.9 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 $94.15 million.
A number of analysts have revised their coverage, including Jefferies’s analysts, who increased its forecast for the stock in early October from “an Underperform” to “a Hold”. TD Cowen also remained covering LUV and reiterated its “Hold” recommendation on September 30, 2024. Evercore ISI revised its rating on September 03, 2024. It rated LUV as “an Outperform” which previously was an “an In-line”.
Price Performance Review of LUV
On Friday, Southwest Airlines Co [NYSE:LUV] saw its stock jump 1.66% to $31.78. Over the last five days, the stock has gained 3.82%. Southwest Airlines Co shares have risen nearly 10.04% since the year began. Nevertheless, the stocks have risen 32.47% over the past one year. While a 52-week high of $35.18 was reached on 02/22/24, a 52-week low of $22.58 was recorded on 08/05/24. SMA at 50 days reached $30.00, while 200 days put it at $29.03.
Levels Of Support And Resistance For LUV Stock
The 24-hour chart illustrates a support level at 31.39, which if violated will result in even more drops to 31.01. On the upside, there is a resistance level at 32.02. A further resistance level may holdings at 32.27. The Relative Strength Index (RSI) on the 14-day chart is 59.57, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.86, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 3.61%. Stochastics %K at 87.25% indicates the stock is a selling.
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 July 17, 2024 when TD Cowen resumed its ‘”a Hold”‘ rating for the stock and retained the price target to $19.
