Envestnet Asset Management Inc. Sells 10,829 Shares of United Airlines Holdings, Inc. (NASDAQ:UAL)

Envestnet Asset Management Inc. trimmed its stake in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 8.7% in the second quarter, Holdings Channel.com reports. The fund owned 113,800 shares of the transportation company’s stock after selling 10,829 shares during the quarter. Envestnet Asset Management Inc.’s holdings in United Airlines were worth $5,538,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Federated Hermes Inc. increased its holdings in United Airlines by 16,098.1% in the second quarter. Federated Hermes Inc. now owns 8,585 shares of the transportation company’s stock worth $418,000 after purchasing an additional 8,532 shares in the last quarter. Meeder Advisory Services Inc. increased its holdings in United Airlines by 42.6% in the second quarter. Meeder Advisory Services Inc. now owns 8,178 shares of the transportation company’s stock worth $398,000 after purchasing an additional 2,444 shares in the last quarter. American Century Companies Inc. increased its holdings in United Airlines by 20.5% in the second quarter. American Century Companies Inc. now owns 488,640 shares of the transportation company’s stock worth $23,777,000 after purchasing an additional 83,184 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in United Airlines by 12.7% in the second quarter. Daiwa Securities Group Inc. now owns 18,459 shares of the transportation company’s stock worth $898,000 after purchasing an additional 2,080 shares in the last quarter. Finally, Royal London Asset Management Ltd. bought a new stake in shares of United Airlines during the second quarter valued at approximately $166,000. 69.69% of the stock is currently owned by institutional investors.

United Airlines Stock Down 1.6 %

Shares of NASDAQ:UAL opened at $57.06 on Tuesday. The stock has a market cap of $18.76 billion, a price-to-earnings ratio of 7.05, a PEG ratio of 1.21 and a beta of 1.43. The company has a quick ratio of 0.71, a current ratio of 0.77 and a debt-to-equity ratio of 2.07. United Airlines Holdings, Inc. has a 12-month low of $33.68 and a 12-month high of $60.23. The business’s 50 day moving average is $46.05 and its 200 day moving average is $48.10.

United Airlines (NASDAQ:UAL) last posted its quarterly earnings data on Wednesday, July 17th. The transportation company reported $4.14 earnings per share 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 in the previous 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 forecast that United Airlines Holdings, Inc. will post 9.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on UAL shares. Redburn Atlantic upgraded United Airlines from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Thursday, June 6th. TD Cowen boosted their price objective on United Airlines from $65.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, United Airlines presently has an average rating of “Moderate Buy” and an average target price of $71.87.

United Airlines 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.