Point72 Asset Management L.P. Has $111.69 Million Position in United Airlines Holdings, Inc. (NASDAQ:UAL)

Point72 Asset Management L.P. grew its position in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 489.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,295,246 shares of the transportation company’s stock after purchasing an additional 1,905,664 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.70% of United Airlines worth $111,687,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in United Airlines by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,161,931 shares of the transportation company’s stock worth $55,634,000 after buying an additional 64,542 shares during the period. Bessemer Group Inc. boosted its holdings in United Airlines by 47.4% in the first quarter. Bessemer Group Inc. now owns 5,471 shares of the transportation company’s stock valued at $261,000 after acquiring an additional 1,759 shares during the last quarter. Tidal Investments LLC boosted its holdings in United Airlines by 16.4% in the first quarter. Tidal Investments LLC now owns 17,429 shares of the transportation company’s stock valued at $835,000 after acquiring an additional 2,456 shares during the last quarter. Jade Capital Advisors LLC acquired a new stake in United Airlines during the 4th quarter valued at approximately $7,145,000. Finally, Texas Permanent School Fund Corp raised its holdings in United Airlines by 1.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 67,719 shares of the transportation company’s stock worth $3,242,000 after purchasing an additional 669 shares during the last quarter. 69.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on UAL. TD Cowen lifted their target price on shares of United Airlines from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Jefferies Financial Group raised United Airlines from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $54.00 to $65.00 in a research report on Wednesday, May 29th. Citigroup upped their target price on United Airlines from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Finally, Redburn Atlantic upgraded United Airlines from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a report on Thursday, June 6th. Two research 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.68.

United Airlines Stock Up 2.4 %

Shares of NASDAQ UAL opened at $53.63 on Wednesday. The company has a debt-to-equity ratio of 2.07, a current ratio of 0.77 and a quick ratio of 0.71. The company has a 50-day moving average price of $45.27 and a 200-day moving average price of $47.70. The stock has a market capitalization of $17.64 billion, a P/E ratio of 6.63, a P/E/G ratio of 1.10 and a beta of 1.43. United Airlines Holdings, Inc. has a 1 year low of $33.68 and a 1 year high of $56.17.

United Airlines (NASDAQ:UAL) last released its quarterly earnings results on Wednesday, July 17th. The transportation company reported $4.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.97 by $0.17. United Airlines had a return on equity of 33.90% and a net margin of 5.28%. The business had revenue of $14.99 billion during the quarter, compared to the consensus estimate of $15.04 billion. During the same quarter in the previous year, the business earned $5.03 EPS. The company’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities research analysts forecast that United Airlines Holdings, Inc. will post 9.73 EPS for the current fiscal year.

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.