Avala Global LP Takes $31.08 Million Position in United Airlines Holdings, Inc. (NASDAQ:UAL)

Avala Global LP acquired a new stake in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 544,600 shares of the transportation company’s stock, valued at approximately $31,075,000. United Airlines comprises approximately 2.0% of Avala Global LP’s investment portfolio, making the stock its 23rd largest position. Avala Global LP owned approximately 0.17% of United Airlines as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in UAL. Global Trust Asset Management LLC purchased a new stake in United Airlines during the third quarter valued at approximately $29,000. Strategic Investment Solutions Inc. IL purchased a new stake in United Airlines during the second quarter valued at approximately $30,000. UMB Bank n.a. increased its holdings in United Airlines by 59.7% during the second quarter. UMB Bank n.a. now owns 682 shares of the transportation company’s stock valued at $33,000 after buying an additional 255 shares during the last quarter. Armstrong Advisory Group Inc. purchased a new stake in United Airlines during the third quarter valued at approximately $36,000. Finally, Quest Partners LLC increased its holdings in United Airlines by 3,504.8% during the second quarter. Quest Partners LLC now owns 757 shares of the transportation company’s stock valued at $37,000 after buying an additional 736 shares during the last quarter. 69.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UAL has been the subject of a number of research reports. Bank of America upped their target price on shares of United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 17th. The Goldman Sachs Group reissued a “buy” rating and issued a $119.00 price objective on shares of United Airlines in a research note on Friday, November 15th. Jefferies Financial Group increased their price objective 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. Morgan Stanley increased their price objective on shares of United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Citigroup increased their price objective on shares of United Airlines from $98.00 to $122.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $96.15.

United Airlines Price Performance

Shares of NASDAQ:UAL opened at $96.83 on Monday. 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 fifty day moving average price of $75.84 and a 200 day moving average price of $57.45. United Airlines Holdings, Inc. has a fifty-two week low of $37.02 and a fifty-two week high of $101.60. The firm has a market cap of $31.85 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 1.15 and a beta of 1.39.

United Airlines (NASDAQ:UAL) last released its quarterly earnings data on Tuesday, October 15th. The transportation company reported $3.33 EPS for the quarter, beating the consensus estimate of $3.10 by $0.23. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. The business had revenue of $14.84 billion during the quarter, compared to analyst estimates of $14.76 billion. During the same quarter last year, the business earned $3.65 earnings per share. As a group, sell-side analysts expect that United Airlines Holdings, Inc. will post 10.23 earnings per share for the current fiscal year.

United Airlines announced that its board has initiated a stock buyback program on Tuesday, October 15th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the transportation company to buy up to 7.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at United Airlines

In other United Airlines news, EVP Torbjorn J. Enqvist sold 14,500 shares of the stock in a transaction on Thursday, October 17th. The shares were 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 owns 30,427 shares in the company, valued at $2,190,744. This trade represents a 32.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kate Gebo sold 17,500 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 40,012 shares of the company’s stock, valued at $3,218,565.28. This trade represents a 30.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,000 shares of company stock worth $8,158,900 over the last 90 days. 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.