Meeder Asset Management Inc. Sells 69,763 Shares of United Airlines Holdings, Inc. (NASDAQ:UAL)

Meeder Asset Management Inc. lowered its holdings in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 55.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,439 shares of the transportation company’s stock after selling 69,763 shares during the quarter. Meeder Asset Management Inc.’s holdings in United Airlines were worth $3,220,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in 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 in the last quarter. Aigen Investment Management LP boosted its holdings in shares of United Airlines by 87.2% in the 3rd quarter. Aigen Investment Management LP now owns 18,912 shares of the transportation company’s stock worth $1,079,000 after purchasing an additional 8,808 shares during the period. Bessemer Group Inc. boosted its holdings in shares of United Airlines by 47.4% in the 1st quarter. Bessemer Group Inc. now owns 5,471 shares of the transportation company’s stock worth $261,000 after purchasing an additional 1,759 shares during the period. Tidal Investments LLC increased its position in shares of United Airlines by 16.4% during the 1st 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 last quarter. Finally, Senator Investment Group LP raised its holdings in United Airlines by 39.5% during the 2nd 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. 69.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on UAL shares. Jefferies Financial Group boosted their price objective on shares of United Airlines from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, October 21st. The Goldman Sachs Group reiterated a “buy” rating and set a $119.00 price target on shares of United Airlines in a report on Friday. Barclays boosted their target price on United Airlines from $75.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Susquehanna increased their price target on United Airlines from $70.00 to $85.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. Finally, Sanford C. Bernstein raised their price target on United Airlines from $68.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, United Airlines presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.61.

Insiders Place Their Bets

In related news, EVP Kate Gebo sold 17,500 shares of the company’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 transaction, the executive vice president now directly owns 40,012 shares of the company’s stock, valued at $3,218,565.28. This represents a 30.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of the firm’s 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 sale, 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 position. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by corporate insiders.

United Airlines Price Performance

Shares of UAL opened at $90.38 on Tuesday. The company has a 50 day moving average price of $67.78 and a 200-day moving average price of $54.77. United Airlines Holdings, Inc. has a fifty-two week low of $37.02 and a fifty-two week high of $93.33. The stock has a market capitalization of $29.72 billion, a PE ratio of 10.90, a PEG ratio of 1.08 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 (NASDAQ:UAL) last announced its earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.23. The business had revenue of $14.84 billion for the quarter, compared to analysts’ expectations 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 last year, the firm earned $3.65 EPS. Equities analysts predict that United Airlines Holdings, Inc. will post 10.23 earnings per share for the current fiscal year.

United Airlines announced that its board has authorized a stock repurchase program on Tuesday, October 15th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the transportation company to buy up to 7.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management 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.