Penserra Capital Management LLC Sells 4,321 Shares of United Airlines Holdings, Inc. (NASDAQ:UAL)

Penserra Capital Management LLC lowered its position in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 20.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 16,309 shares of the transportation company’s stock after selling 4,321 shares during the quarter. Penserra Capital Management LLC’s holdings in United Airlines were worth $929,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of UAL. Global Trust Asset Management LLC purchased a new stake in shares of United Airlines during the third quarter valued at approximately $29,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of United Airlines during the 2nd quarter valued at $30,000. Armstrong Advisory Group Inc. bought a new stake in shares of United Airlines during the 3rd quarter worth $36,000. UMB Bank n.a. boosted its holdings in shares of United Airlines by 59.7% in the 2nd quarter. UMB Bank n.a. now owns 682 shares of the transportation company’s stock worth $33,000 after buying an additional 255 shares during the last quarter. Finally, Blue Trust Inc. grew its position in United Airlines by 108.6% during the third quarter. Blue Trust Inc. now owns 753 shares of the transportation company’s stock valued at $43,000 after buying an additional 392 shares during the period. Hedge funds and other institutional investors own 69.69% of the company’s stock.

United Airlines Stock Down 0.2 %

UAL opened at $96.35 on Thursday. The firm has a market capitalization of $31.69 billion, a P/E ratio of 11.62, a price-to-earnings-growth ratio of 1.15 and a beta of 1.39. United Airlines Holdings, Inc. has a one year low of $37.02 and a one year high of $101.60. The company has a fifty day moving average price of $74.07 and a 200-day moving average price of $56.85. 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 posted its earnings results on Tuesday, October 15th. The transportation company reported $3.33 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the business earned $3.65 earnings per share. Equities research 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 of Directors has initiated a share buyback plan on Tuesday, October 15th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the transportation company to reacquire up to 7.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity at United Airlines

In related news, EVP Linda P. Jojo sold 60,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $95.12, for a total transaction of $5,707,200.00. Following the transaction, the executive vice president now directly owns 63,599 shares of the company’s stock, valued at approximately $6,049,536.88. This trade represents a 48.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of the company’s stock in a transaction that occurred on 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. Insiders have sold 92,000 shares of company stock valued at $8,158,900 over the last three months. 0.63% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. UBS Group reaffirmed a “buy” rating and issued a $139.00 price objective on shares of United Airlines in a research report on Tuesday. TD Cowen upped their price objective on United Airlines from $100.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Barclays increased their price objective on United Airlines from $75.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Sanford C. Bernstein upped their price target on United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Citigroup lifted their price objective on United Airlines from $98.00 to $122.00 and gave the stock a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $96.15.

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.