Quest Partners LLC grew its stake in United Airlines Holdings, Inc. (NASDAQ:UAL – Free Report) by 268.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,791 shares of the transportation company’s stock after acquiring an additional 2,034 shares during the quarter. Quest Partners LLC’s holdings in United Airlines were worth $159,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of UAL. Dimensional Fund Advisors LP raised its position in 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 buying an additional 1,263,604 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in United Airlines by 489.2% in the second quarter. Point72 Asset Management L.P. now owns 2,295,246 shares of the transportation company’s stock valued at $111,687,000 after acquiring an additional 1,905,664 shares during the period. Assenagon Asset Management S.A. increased its position in shares of United Airlines by 177.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,324,398 shares of the transportation company’s stock valued at $75,570,000 after purchasing an additional 847,348 shares during the last quarter. Senator Investment Group LP grew its position in United Airlines by 39.5% during the second quarter. Senator Investment Group LP now owns 1,046,051 shares of the transportation company’s stock valued at $50,901,000 after buying an additional 296,051 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in United Airlines by 217.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 675,919 shares of the transportation company’s stock worth $32,890,000 after acquiring an additional 462,957 shares during the period. Institutional investors own 69.69% of the company’s stock.
United Airlines Trading Down 0.2 %
UAL opened at $96.35 on Friday. The stock’s 50 day moving average price is $74.95 and its 200-day moving average price is $57.13. The stock has a market cap of $31.69 billion, a price-to-earnings ratio of 11.62, a P/E/G ratio of 1.15 and a beta of 1.39. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.72 and a current ratio of 0.79. United Airlines Holdings, Inc. has a one year low of $37.02 and a one year high of $101.60.
United Airlines declared that its board has authorized a share buyback program 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 shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the company. Sanford C. Bernstein lifted their target price on United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. The Goldman Sachs Group reiterated a “buy” rating and set a $119.00 target price on shares of United Airlines in a research report on Friday, November 15th. Jefferies Financial Group lifted their price target on shares of United Airlines from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday, October 21st. Morgan Stanley increased their price target on United Airlines from $80.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, TD Cowen raised their target price on shares of United Airlines from $100.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, United Airlines presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.15.
Get Our Latest Stock Analysis on UAL
Insider Buying and Selling
In other news, EVP Torbjorn J. Enqvist sold 14,500 shares of the 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 transaction, the executive vice president now directly owns 30,427 shares of the company’s stock, valued at approximately $2,190,744. This represents a 32.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Linda P. Jojo sold 60,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $95.12, for a total value of $5,707,200.00. Following the sale, the executive vice president now directly owns 63,599 shares in the company, valued at $6,049,536.88. This represents a 48.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,000 shares of company stock worth $8,158,900 in the last three months. 0.63% of the stock is owned by insiders.
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.
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