State of Alaska Department of Revenue Grows Position in United Airlines Holdings, Inc. (NASDAQ:UAL)

State of Alaska Department of Revenue increased its holdings in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 7.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,170 shares of the transportation company’s stock after acquiring an additional 2,590 shares during the quarter. State of Alaska Department of Revenue’s holdings in United Airlines were worth $2,177,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of United Airlines by 1.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 19,416 shares of the transportation company’s stock valued at $930,000 after purchasing an additional 287 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of United Airlines by 7.2% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 33,491 shares of the transportation company’s stock worth $1,604,000 after acquiring an additional 2,254 shares during the last quarter. Kovack Advisors Inc. acquired a new stake in shares of United Airlines in the 1st quarter worth $266,000. Diversify Advisory Services LLC acquired a new position in shares of United Airlines during the 1st quarter valued at about $220,000. Finally, Janney Montgomery Scott LLC grew its holdings in shares of United Airlines by 58.3% in the first quarter. Janney Montgomery Scott LLC now owns 50,806 shares of the transportation company’s stock valued at $2,433,000 after purchasing an additional 18,704 shares during the period. Hedge funds and other institutional investors own 69.69% of the company’s stock.

United Airlines Price Performance

Shares of UAL opened at $80.46 on Friday. The company has a market cap of $26.46 billion, a P/E ratio of 9.71, a PEG ratio of 0.96 and a beta of 1.44. United Airlines Holdings, Inc. has a fifty-two week low of $35.24 and a fifty-two week high of $81.35. The company has a quick ratio of 0.72, a current ratio of 0.79 and a debt-to-equity ratio of 1.95. The firm’s 50 day moving average price is $58.30 and its 200 day moving average price is $51.99.

United Airlines (NASDAQ:UAL) last posted its quarterly earnings data on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. The business had revenue of $14.84 billion for the quarter, compared to analyst estimates of $14.76 billion. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. During the same quarter in the prior year, the company earned $3.65 earnings per share. On average, research analysts forecast that United Airlines Holdings, Inc. will post 10.18 earnings per share for the current fiscal year.

United Airlines declared that its board has approved a share repurchase plan on Tuesday, October 15th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the transportation company to reacquire up to 7.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at United Airlines

In other news, EVP Torbjorn J. Enqvist sold 14,500 shares of the business’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $72.00, for a total transaction of $1,044,000.00. Following the completion of the transaction, the executive vice president now directly owns 30,427 shares of the company’s stock, valued at approximately $2,190,744. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.63% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on UAL. Jefferies Financial Group lifted their target price on shares of United Airlines from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Bank of America upped their price objective on United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Morgan Stanley raised their target price on United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Susquehanna upped their price target 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 objective 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 issued a buy rating to the company’s stock. According to MarketBeat.com, United Airlines presently has an average rating of “Moderate Buy” and a consensus price target of $78.94.

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.