07:41 AM EDT, 10/08/2024 (MT Newswires) -- Southwest Airlines ( LUV ) was the stock pick of the week from Smart Insider after the company's Director Rakesh Gangwal bought $107 million worth of shares at $29.64 apiece from Sept. 30 to Oct. 1.

"While new to the board it is encouraging to see him make such a large investment," Smart Insider said in a note Tuesday.

Executive Chair Gary Kelly also purchased $1 million worth of shares at $29.52 apiece, raising his stake in the company by 4%.

"These large purchases show confidence and support to current CEO Robert Jordan (CEO since 2022, joined 1988) and recent management and board changes, amid ongoing pressure from Elliott Investment Management," Smart Insider said.

Smart Insider said it ranked the stock +1, or strong positive signal.

Price: 31.07, Change: +0.03, Percent Change: +0.10