Rubric Capital Management LP purchased a new position in shares of United Airlines Holdings, Inc. (NASDAQ:UAL – Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,112,623 shares of the transportation company’s stock, valued at approximately $63,486,000. United Airlines comprises about 1.0% of Rubric Capital Management LP’s portfolio, making the stock its 24th largest position. Rubric Capital Management LP owned 0.34% of United Airlines as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of UAL. Sanders Capital LLC raised its stake in United Airlines by 12.4% during the 3rd quarter. Sanders Capital LLC now owns 9,457,587 shares of the transportation company’s stock valued at $539,650,000 after acquiring an additional 1,040,589 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of United Airlines during the third quarter valued at approximately $115,000. Qsemble Capital Management LP boosted its stake in United Airlines by 5.0% during the 3rd quarter. Qsemble Capital Management LP now owns 20,681 shares of the transportation company’s stock valued at $1,180,000 after purchasing an additional 994 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of United Airlines by 8.5% in the third quarter. Daiwa Securities Group Inc. now owns 20,022 shares of the transportation company’s stock valued at $1,142,000 after buying an additional 1,563 shares during the period. Finally, Centaurus Financial Inc. boosted its stake in United Airlines by 33.0% during the third quarter. Centaurus Financial Inc. now owns 6,188 shares of the transportation company’s stock valued at $353,000 after buying an additional 1,534 shares in the last quarter. Institutional investors and hedge funds own 69.69% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. TD Cowen raised their price objective on United Airlines from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Jefferies Financial Group upped their target price on United Airlines from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. UBS Group reiterated a “buy” rating and issued a $139.00 price objective on shares of United Airlines in a report on Tuesday. Bank of America boosted their price target on United Airlines from $70.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Sanford C. Bernstein boosted their price objective on shares of United Airlines from $68.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.15.
Insider Buying and Selling
In related news, EVP Kate Gebo sold 17,500 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.44, for a total value of $1,407,700.00. Following the completion of the transaction, the executive vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Linda P. Jojo sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $95.12, for a total value of $5,707,200.00. Following the completion of the transaction, the executive vice president now owns 63,599 shares of the company’s stock, valued at approximately $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 have sold 92,000 shares of company stock valued at $8,158,900 in the last 90 days. 0.63% of the stock is owned by insiders.
United Airlines Stock Performance
Shares of NASDAQ:UAL opened at $96.51 on Wednesday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.72 and a current ratio of 0.79. The firm has a market cap of $31.74 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 1.15 and a beta of 1.39. United Airlines Holdings, Inc. has a twelve month low of $37.02 and a twelve month high of $101.60. The business has a fifty day moving average of $73.21 and a 200-day moving average of $56.57.
United Airlines (NASDAQ:UAL – Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The transportation company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. The firm had revenue of $14.84 billion during the quarter, compared to analyst estimates of $14.76 billion. During the same period last year, the company earned $3.65 earnings per share. On average, equities research analysts predict that United Airlines Holdings, Inc. will post 10.23 EPS for the current fiscal year.
United Airlines declared that its board has approved a stock buyback plan on Tuesday, October 15th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the transportation company to purchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors 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.
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