United Airlines Holdings, Inc. (NASDAQ:UAL) Shares Sold by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC trimmed its holdings in United Airlines Holdings, Inc. (NASDAQ:UAL) by 19.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,537 shares of the transportation company’s stock after selling 1,999 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in United Airlines were worth $487,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in UAL. Capital International Investors increased its position in shares of United Airlines by 2.4% during the first quarter. Capital International Investors now owns 18,502,761 shares of the transportation company’s stock worth $885,912,000 after purchasing an additional 429,501 shares in the last quarter. Dimensional Fund Advisors LP increased its position 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 buying an additional 1,263,604 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of United Airlines by 489.2% in the second quarter. Point72 Asset Management L.P. now owns 2,295,246 shares of the transportation company’s stock valued at $111,687,000 after acquiring an additional 1,905,664 shares during the period. Interval Partners LP purchased a new position in shares of United Airlines during the first quarter worth approximately $103,354,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of United Airlines by 177.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,324,398 shares of the transportation company’s stock valued at $75,570,000 after acquiring an additional 847,348 shares during the period. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

United Airlines Price Performance

Shares of NASDAQ:UAL opened at $85.43 on Friday. United Airlines Holdings, Inc. has a 12 month low of $37.02 and a 12 month high of $87.84. The firm has a market capitalization of $28.10 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 0.92 and a beta of 1.39. The business’s 50 day simple moving average is $60.67 and its 200-day simple moving average is $52.71. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.79 and a quick ratio of 0.72.

United Airlines (NASDAQ:UAL) last announced its quarterly earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, beating 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 analysts’ expectations of $14.76 billion. During the same quarter last year, the business posted $3.65 earnings per share. As a group, equities analysts forecast that United Airlines Holdings, Inc. will post 10.18 earnings per share for the current fiscal year.

United Airlines announced that its board has approved 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 repurchase up to 7.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have commented on UAL. Jefferies Financial Group lifted their price objective on shares of United Airlines from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Morgan Stanley upped their price objective on United Airlines from $80.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Barclays lifted their target price on United Airlines from $66.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. 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, TD Cowen boosted their price objective on shares of United Airlines from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, United Airlines currently has a consensus rating of “Moderate Buy” and an average target price of $78.94.

Insiders Place Their Bets

In other news, EVP Torbjorn J. Enqvist sold 14,500 shares of the firm’s stock in a transaction that occurred 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 directly owns 30,427 shares of the company’s stock, valued at $2,190,744. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other United Airlines news, EVP Kate Gebo sold 17,500 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 40,012 shares of the company’s stock, valued at $3,218,565.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of United Airlines stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $72.00, for a total transaction of $1,044,000.00. Following the sale, the executive vice president now owns 30,427 shares of the company’s stock, valued at approximately $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. 0.63% of the stock is currently owned by company insiders.

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.