BofA’s Hartnett says concentrated U.S. stock returns are likely to persist
Lisa Atherton, a director at Southwest Airlines Co. (NYSE:LUV), recently acquired shares in the company, according to a recent SEC filing. On January 30, Atherton purchased 118 shares of Southwest Airlines common stock at a price of $31.28 per share, totaling approximately $3,691. The purchase price represents a premium to the current trading price of $28.18, though InvestingPro analysis indicates the stock is currently trading near its Fair Value. Following this transaction, Atherton holds a total of 6,122 shares in the company. The shares were acquired indirectly through her spouse. Southwest Airlines, with a market capitalization of $16.7 billion, has shown resilience with a 5.3% revenue growth over the last twelve months and is expected to remain profitable this year according to InvestingPro analysis, which offers 7 additional key insights about the company’s financial health and growth prospects through its comprehensive Pro Research Report.
In other recent news, Southwest Airlines reported several significant developments. The airline narrowly avoided a potential collision at Chicago Midway International Airport when a business jet crossed its runway without permission. The U.S. Federal Aviation Administration is investigating the incident, and Southwest emphasized the crew’s adherence to safety protocols. In corporate news, Southwest Airlines amended its agreement with Elliott Management, allowing the firm to increase its economic exposure in the airline. This amendment extends the restriction on Elliott acquiring more than 12.49% of Southwest’s common stock until April 2026.
Additionally, Southwest Airlines announced plans to cut approximately 1,750 leadership positions as a cost-cutting measure, affecting 15% of corporate roles. In a move to bolster its financial strategy, the airline appointed Tom Doxey as the new Executive Vice President and Chief Financial Officer. Doxey brings extensive experience from previous roles at Breeze Airways and United Airlines. Furthermore, board members Eduardo F. Conrado and Elaine Mendoza will retire following the 2025 Annual Meeting of Shareholders, as part of a planned board refreshment process. These developments reflect Southwest Airlines’ ongoing efforts to navigate industry challenges and optimize its operations.
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