Allspring Global Investments Holdings LLC Sells 3,540 Shares of United Airlines Holdings, Inc. (NASDAQ:UAL)

Allspring Global Investments Holdings LLC reduced its holdings in United Airlines Holdings, Inc. (NASDAQ:UAL) by 0.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 672,379 shares of the transportation company’s stock after selling 3,540 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.20% of United Airlines worth $38,366,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital International Investors grew its position in United Airlines by 2.4% in the first quarter. Capital International Investors now owns 18,502,761 shares of the transportation company’s stock worth $885,912,000 after acquiring an additional 429,501 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of United Airlines by 29.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,601,425 shares of the transportation company’s stock worth $272,559,000 after purchasing an additional 1,263,604 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of United Airlines by 489.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,295,246 shares of the transportation company’s stock valued at $111,687,000 after purchasing an additional 1,905,664 shares during the last quarter. Interval Partners LP purchased a new position in shares of United Airlines during the 1st quarter valued at about $103,354,000. Finally, Price T Rowe Associates Inc. MD lifted its position in United Airlines by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,161,931 shares of the transportation company’s stock worth $55,634,000 after buying an additional 64,542 shares during the last quarter. Hedge funds and other institutional investors own 69.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Bank of America lifted their price target on shares of United Airlines from $70.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. TD Cowen boosted their price target on shares of United Airlines from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Jefferies Financial Group raised their price objective on United Airlines from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Monday. Susquehanna boosted their target price on United Airlines from $70.00 to $85.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Finally, Sanford C. Bernstein raised their price target on United Airlines from $68.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, United Airlines presently has an average rating of “Moderate Buy” and an average target price of $78.94.

Insiders Place Their Bets

In other news, EVP Torbjorn J. Enqvist sold 14,500 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $72.00, for a total value of $1,044,000.00. Following the sale, the executive vice president now directly owns 30,427 shares of the company’s stock, valued at $2,190,744. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.63% of the company’s stock.

United Airlines Stock Up 0.7 %

Shares of NASDAQ UAL opened at $74.49 on Wednesday. The firm has a fifty day simple moving average of $52.72 and a two-hundred day simple moving average of $50.18. The firm has a market capitalization of $24.49 billion, a PE ratio of 9.21, a price-to-earnings-growth ratio of 0.98 and a beta of 1.44. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.95. United Airlines Holdings, Inc. has a 12 month low of $33.68 and a 12 month high of $74.96.

United Airlines (NASDAQ:UAL) last issued its quarterly earnings data on Tuesday, October 15th. The transportation company reported $3.33 EPS for the quarter, topping the consensus estimate of $3.10 by $0.23. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. The business had revenue of $14.84 billion during the quarter, compared to analyst estimates of $14.76 billion. During the same period last year, the business posted $3.65 earnings per share. Equities analysts expect that United Airlines Holdings, Inc. will post 10.05 earnings per share for the current year.

United Airlines announced that its Board of Directors has authorized a stock buyback plan on Tuesday, October 15th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the transportation company to reacquire up to 7.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

United Airlines Company Profile

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.