QRG Capital Management Inc. Decreases Stake in United Airlines Holdings, Inc. (NASDAQ:UAL)

QRG Capital Management Inc. lessened its stake in United Airlines Holdings, Inc. (NASDAQ:UAL) by 23.7% in the third quarter, HoldingsChannel.com reports. The firm owned 58,127 shares of the transportation company’s stock after selling 18,100 shares during the quarter. QRG Capital Management Inc.’s holdings in United Airlines were worth $3,317,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Interval Partners LP acquired a new stake in shares of United Airlines during the 1st quarter valued at approximately $103,354,000. Point72 Asset Management L.P. raised its holdings in United Airlines by 489.2% during the second quarter. Point72 Asset Management L.P. now owns 2,295,246 shares of the transportation company’s stock worth $111,687,000 after purchasing an additional 1,905,664 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in United Airlines by 29.1% during the second quarter. Dimensional Fund Advisors LP now owns 5,601,425 shares of the transportation company’s stock worth $272,559,000 after purchasing an additional 1,263,604 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in United Airlines by 177.6% during the third quarter. Assenagon Asset Management S.A. now owns 1,324,398 shares of the transportation company’s stock worth $75,570,000 after purchasing an additional 847,348 shares in the last quarter. Finally, Senator Investment Group LP acquired a new stake in United Airlines in the first quarter valued at $35,910,000. Institutional investors and hedge funds own 69.69% of the company’s stock.

Insider Transactions at United Airlines

In related news, EVP Kate Gebo sold 17,500 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were 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 approximately $3,218,565.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Kate Gebo sold 17,500 shares of the company’s stock in a transaction on Friday, November 1st. The shares were 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 directly owns 40,012 shares of the company’s stock, valued at approximately $3,218,565.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were 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 directly owns 30,427 shares in the company, valued at $2,190,744. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.63% of the company’s stock.

United Airlines Price Performance

UAL opened at $87.58 on Thursday. United Airlines Holdings, Inc. has a 1 year low of $36.23 and a 1 year high of $87.84. 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 company’s 50 day simple moving average is $60.67 and its 200 day simple moving average is $52.71. The stock has a market capitalization of $28.80 billion, a PE ratio of 10.56, a P/E/G ratio of 0.92 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, 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 business had revenue of $14.84 billion during the quarter, compared to the consensus estimate of $14.76 billion. During the same period in the prior year, the firm posted $3.65 EPS. As a group, sell-side analysts expect that United Airlines Holdings, Inc. will post 10.18 EPS for the current year.

United Airlines declared that its board has approved a share repurchase program on Tuesday, October 15th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the transportation company to repurchase up to 7.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on UAL shares. Susquehanna boosted their price objective 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. Barclays upped their price target on shares of United Airlines from $66.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Bank of America raised their price objective on shares of United Airlines from $70.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Sanford C. Bernstein upped their target price on United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Jefferies Financial Group raised their price target on United Airlines from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.94.

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.