Dark Forest Capital Management LP Increases Stock Position in United Airlines Holdings, Inc. (NASDAQ:UAL)

Dark Forest Capital Management LP grew its holdings in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 108.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,950 shares of the transportation company’s stock after buying an additional 4,666 shares during the period. Dark Forest Capital Management LP’s holdings in United Airlines were worth $436,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Commerce Bank raised its position in United Airlines by 51.8% in the fourth quarter. Commerce Bank now owns 16,922 shares of the transportation company’s stock worth $698,000 after acquiring an additional 5,771 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in shares of United Airlines by 0.9% during the 4th quarter. Treasurer of the State of North Carolina now owns 153,660 shares of the transportation company’s stock worth $6,340,000 after purchasing an additional 1,437 shares during the period. TFO Wealth Partners LLC lifted its stake in shares of United Airlines by 34,342.9% in the fourth quarter. TFO Wealth Partners LLC now owns 2,411 shares of the transportation company’s stock valued at $99,000 after purchasing an additional 2,404 shares during the period. Scotia Capital Inc. purchased a new stake in United Airlines during the fourth quarter worth about $206,000. Finally, Alberta Investment Management Corp acquired a new position in United Airlines during the fourth quarter worth about $507,000. 69.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on UAL. Redburn Atlantic raised United Airlines from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Thursday, June 6th. TD Cowen upped their target price on United Airlines from $65.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, United Airlines currently has an average rating of “Moderate Buy” and a consensus price target of $71.87.

United Airlines Stock Performance

Shares of UAL opened at $57.99 on Friday. The company has a market capitalization of $19.07 billion, a price-to-earnings ratio of 7.17, a PEG ratio of 1.12 and a beta of 1.43. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.71 and a current ratio of 0.77. United Airlines Holdings, Inc. has a 1 year low of $33.68 and a 1 year high of $60.23. The company’s 50 day simple moving average is $45.67 and its 200 day simple moving average is $47.82.

United Airlines (NASDAQ:UAL) last posted its quarterly earnings data on Wednesday, July 17th. The transportation company reported $4.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.97 by $0.17. United Airlines had a return on equity of 33.90% and a net margin of 5.28%. The business had revenue of $14.99 billion for the quarter, compared to analysts’ expectations of $15.04 billion. During the same quarter last year, the firm earned $5.03 earnings per share. The business’s revenue was up 5.7% on a year-over-year basis. On average, sell-side analysts predict that United Airlines Holdings, Inc. will post 9.78 EPS for the current year.

About United Airlines

United Airlines Holdings, Inc, through its subsidiaries, provides air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. The company transports people and cargo through its mainline and regional fleets. It also offers catering, ground handling, flight academy, and maintenance services for third parties.