Ballentine Partners LLC bought a new position in shares of United Airlines Holdings, Inc. (NASDAQ:UAL – Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,061 shares of the transportation company’s stock, valued at approximately $200,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in UAL. State Street Corp grew its holdings in United Airlines by 0.8% during the 3rd 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. Charles Schwab Investment Management Inc. boosted its stake in 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 valued at $177,604,000 after buying an additional 908,558 shares during the period. MidWestOne Financial Group Inc. increased its stake in United Airlines by 28.0% in the 3rd quarter. MidWestOne Financial Group Inc. now owns 53,704 shares of the transportation company’s stock worth $3,064,000 after acquiring an additional 11,743 shares during the last quarter. Aigen Investment Management LP boosted its position in shares of United Airlines by 87.2% during the 3rd quarter. Aigen Investment Management LP now owns 18,912 shares of the transportation company’s stock valued at $1,079,000 after acquiring an additional 8,808 shares during the last quarter. Finally, Edgestream Partners L.P. increased its position in shares of United Airlines by 293.6% in the third quarter. Edgestream Partners L.P. now owns 50,122 shares of the transportation company’s stock worth $2,860,000 after purchasing an additional 37,389 shares during the last quarter. Institutional investors own 69.69% of the company’s stock.
United Airlines Trading Up 1.9 %
United Airlines stock opened at $105.00 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 1.99. The company has a market cap of $34.53 billion, a P/E ratio of 11.13, a P/E/G ratio of 0.77 and a beta of 1.44. The business has a 50-day simple moving average of $99.39 and a two-hundred day simple moving average of $71.14. United Airlines Holdings, Inc. has a 52-week low of $37.02 and a 52-week high of $116.00.
United Airlines announced that its Board of Directors has initiated a stock buyback program on Tuesday, October 15th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the transportation company to purchase up to 7.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Analysts Set New Price Targets
A number of research firms have commented on UAL. Bank of America boosted their price target on shares of United Airlines from $70.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Sanford C. Bernstein increased their target price on United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Jefferies Financial Group raised their price objective on United Airlines from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday, October 21st. Dbs Bank upgraded shares of United Airlines from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 26th. Finally, Raymond James restated an “outperform” rating and set a $130.00 price target (up from $120.00) on shares of United Airlines in a research report on Thursday. One investment analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $110.20.
View Our Latest Analysis on UAL
Insider Activity
In other news, 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 sale, the executive vice president now owns 40,012 shares in the company, valued at $3,218,565.28. This trade represents a 30.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Linda P. Jojo sold 60,000 shares of the company’s 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 transaction, the executive vice president now owns 63,599 shares of the company’s stock, valued at approximately $6,049,536.88. This represents a 48.54 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.
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.
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