Gateway Investment Advisers LLC Invests $311,000 in United Airlines Holdings, Inc. (NASDAQ:UAL)

Gateway Investment Advisers LLC acquired a new stake in United Airlines Holdings, Inc. (NASDAQ:UAL) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,208 shares of the transportation company’s stock, valued at approximately $311,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of UAL. Global Trust Asset Management LLC acquired a new stake in United Airlines during the 3rd quarter worth $29,000. Strategic Investment Solutions Inc. IL bought a new position in United Airlines in the second quarter valued at $30,000. Armstrong Advisory Group Inc. bought a new stake in United Airlines during the third quarter worth about $36,000. Winch Advisory Services LLC acquired a new position in United Airlines during the fourth quarter worth $38,000. Finally, Blue Trust Inc. raised 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 worth $43,000 after acquiring an additional 392 shares in the last quarter. 69.69% of the stock is owned by institutional investors.

United Airlines Price Performance

UAL opened at $107.38 on Monday. 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 firm’s fifty day moving average price is $97.73 and its two-hundred day moving average price is $69.23. United Airlines Holdings, Inc. has a 1 year low of $37.02 and a 1 year high of $110.92. The company has a market capitalization of $35.32 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 0.98 and a beta of 1.44.

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

Insider Buying and Selling at United Airlines

In other news, EVP Linda P. Jojo sold 60,000 shares of the stock in a transaction on 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 completion of the transaction, the executive vice president now owns 63,599 shares in the company, valued at approximately $6,049,536.88. This represents a 48.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kate Gebo sold 17,500 shares of the business’s 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 directly owns 40,012 shares in the company, valued at approximately $3,218,565.28. This trade represents a 30.43 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on UAL. Barclays boosted their price target on United Airlines from $75.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Citigroup raised their target price on shares of United Airlines from $98.00 to $122.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Raymond James increased their price objective on shares of United Airlines from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, December 30th. Melius Research raised United Airlines to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Dbs Bank upgraded United Airlines from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $106.45.

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.