Victory Capital Management Inc. Decreases Position in United Airlines Holdings, Inc. (NASDAQ:UAL)

Victory Capital Management Inc. decreased its position in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 0.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 145,854 shares of the transportation company’s stock after selling 720 shares during the period. Victory Capital Management Inc.’s holdings in United Airlines were worth $8,322,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of United Airlines by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,161,931 shares of the transportation company’s stock worth $55,634,000 after acquiring an additional 64,542 shares during the period. Aigen Investment Management LP lifted its position in United Airlines by 87.2% during the third quarter. Aigen Investment Management LP now owns 18,912 shares of the transportation company’s stock valued at $1,079,000 after purchasing an additional 8,808 shares in the last quarter. Bessemer Group Inc. grew its holdings in United Airlines by 47.4% during the first quarter. Bessemer Group Inc. now owns 5,471 shares of the transportation company’s stock valued at $261,000 after purchasing an additional 1,759 shares during the period. Tidal Investments LLC grew its holdings in United Airlines by 16.4% during the first quarter. Tidal Investments LLC now owns 17,429 shares of the transportation company’s stock valued at $835,000 after purchasing an additional 2,456 shares during the period. Finally, Senator Investment Group LP raised its stake in shares of United Airlines by 39.5% in the second quarter. Senator Investment Group LP now owns 1,046,051 shares of the transportation company’s stock worth $50,901,000 after buying an additional 296,051 shares during the period. Institutional investors own 69.69% of the company’s stock.

Wall Street Analyst Weigh In

UAL has been the subject of several research analyst reports. Barclays increased their target price on United Airlines from $75.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Susquehanna upped their target price on shares of United Airlines from $70.00 to $85.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. Sanford C. Bernstein lifted their price target on shares of United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Morgan Stanley boosted their target price on United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, TD Cowen raised their price target on United Airlines from $100.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $88.28.

United Airlines Price Performance

United Airlines stock opened at $94.59 on Friday. The company has a fifty day simple moving average of $70.52 and a 200-day simple moving average of $55.62. 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 has a market capitalization of $31.11 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 1.12 and a beta of 1.39. United Airlines Holdings, Inc. has a 52-week low of $37.02 and a 52-week high of $95.99.

United Airlines (NASDAQ:UAL) last announced its quarterly earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.23. The firm had revenue of $14.84 billion for the quarter, compared to analysts’ expectations of $14.76 billion. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. During the same quarter in the previous year, the company posted $3.65 EPS. On average, equities analysts anticipate that United Airlines Holdings, Inc. will post 10.23 EPS for the current fiscal year.

United Airlines announced that its board has authorized a share buyback 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 purchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at United Airlines

In other news, EVP Torbjorn J. Enqvist sold 14,500 shares of United Airlines stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 30,427 shares in the company, valued at approximately $2,190,744. This trade represents a 32.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kate Gebo sold 17,500 shares of United Airlines stock in a transaction on Friday, November 1st. The stock was sold at an average price of $80.44, for a total transaction of $1,407,700.00. Following the sale, the executive vice president now directly owns 40,012 shares of the company’s stock, valued at approximately $3,218,565.28. This trade represents a 30.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by corporate insiders.

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.