Wellington Management Group LLP Buys Shares of 48,654 United Airlines Holdings, Inc. (NASDAQ:UAL)

Wellington Management Group LLP purchased a new position in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 48,654 shares of the transportation company’s stock, valued at approximately $2,776,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp lifted its stake in United Airlines by 0.8% in the third quarter. State Street Corp now owns 10,320,253 shares of the transportation company’s stock valued at $588,874,000 after buying an additional 78,470 shares in the last quarter. Sanders Capital LLC boosted its stake in United Airlines by 12.4% in the 3rd quarter. Sanders Capital LLC now owns 9,457,587 shares of the transportation company’s stock worth $539,650,000 after purchasing an additional 1,040,589 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of United Airlines by 29.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,601,425 shares of the transportation company’s stock valued at $272,559,000 after purchasing an additional 1,263,604 shares during the period. Castle Hook Partners LP lifted its holdings in shares of United Airlines by 176.1% in the third quarter. Castle Hook Partners LP now owns 4,245,120 shares of the transportation company’s stock valued at $242,227,000 after purchasing an additional 2,707,442 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of United Airlines by 41.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,112,583 shares of the transportation company’s stock worth $177,604,000 after buying an additional 908,558 shares during the period. 69.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at United Airlines

In other United Airlines news, EVP Torbjorn J. Enqvist sold 14,500 shares of the 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 transaction, the executive vice president now owns 30,427 shares in the company, valued at $2,190,744. This represents a 32.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kate Gebo sold 17,500 shares of United Airlines 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. The trade was a 30.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,000 shares of company stock worth $8,158,900 in the last ninety days. 0.63% of the stock is owned by company insiders.

United Airlines Price Performance

NASDAQ:UAL opened at $94.99 on Wednesday. The firm’s fifty day moving average price is $85.61 and its two-hundred day moving average price is $61.23. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.79 and a quick ratio of 0.72. The company has a market cap of $31.24 billion, a P/E ratio of 11.46, a P/E/G ratio of 1.12 and a beta of 1.44. United Airlines Holdings, Inc. has a one year low of $37.02 and a one year high of $105.09.

United Airlines (NASDAQ:UAL) last released its quarterly earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.23. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. The firm had revenue of $14.84 billion for the quarter, compared to analysts’ expectations of $14.76 billion. During the same period in the prior year, the firm earned $3.65 EPS. Equities analysts expect that United Airlines Holdings, Inc. will post 10.27 earnings per share for the current year.

United Airlines declared that its board has approved a share buyback plan on Tuesday, October 15th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the transportation company to buy up to 7.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have commented on UAL. Dbs Bank upgraded United Airlines from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 26th. UBS Group restated a “buy” rating and set a $139.00 target price on shares of United Airlines in a report on Tuesday, November 26th. Melius Research upgraded shares of United Airlines to a “strong-buy” rating in a research note on Monday, December 2nd. The Goldman Sachs Group restated a “buy” rating and set a $119.00 price objective on shares of United Airlines in a research note on Friday, November 15th. Finally, Citigroup lifted their target price on United Airlines from $98.00 to $122.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, United Airlines presently has a consensus rating of “Buy” and a consensus target price of $98.95.

United Airlines 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.