Pinnacle Associates Ltd. Sells 4,363 Shares of United Airlines Holdings, Inc. (NASDAQ:UAL)

Posted by Defense World Staff on Apr 21st, 2023

Pinnacle Associates Ltd. trimmed its position in shares of United Airlines Holdings, Inc. (NASDAQ:UAL – Get Rating) by 43.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,746 shares of the transportation company’s stock after selling 4,363 shares during the period. Pinnacle Associates Ltd.’s holdings in United Airlines were worth $217,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. EWG Elevate Inc. bought a new position in United Airlines during the fourth quarter valued at $25,000. Western Pacific Wealth Management LP bought a new position in United Airlines during the third quarter valued at $27,000. Ameliora Wealth Management Ltd. bought a new position in United Airlines during the third quarter valued at $34,000. Guardian Wealth Advisors LLC purchased a new stake in shares of United Airlines during the third quarter worth $33,000. Finally, Clearstead Trust LLC purchased a new stake in shares of United Airlines during the fourth quarter worth $38,000. 59.73% of the stock is owned by institutional investors.

United Airlines Stock Down 3.0 %

UAL opened at $44.89 on Friday. The stock has a market cap of $14.72 billion, a PE ratio of 7.71 and a beta of 1.42. The company has a quick ratio of 0.95, a current ratio of 1.00 and a debt-to-equity ratio of 4.12. United Airlines Holdings, Inc. has a 52 week low of $31.58 and a 52 week high of $55.04. The business’s fifty day simple moving average is $42.89 and its 200 day simple moving average is $44.87.

United Airlines (NASDAQ:UAL – Get Rating) last released its earnings results on Wednesday, April 19th. The transportation company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.10. United Airlines had a return on equity of 38.11% and a net margin of 3.93%. The business had revenue of $11.43 billion for the quarter, compared to analysts’ expectations of $11.43 billion. During the same quarter in the prior year, the firm earned ($4.24) earnings per share. The firm’s revenue was up 51.1% on a year-over-year basis. As a group, research analysts expect that United Airlines Holdings, Inc. will post 10.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

UAL has been the topic of several recent research reports. Raymond James increased their target price on United Airlines from $55.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, April 3rd. Redburn Partners upgraded United Airlines from a “sell” rating to a “neutral” rating and set a $55.00 target price on the stock in a research report on Wednesday, February 8th. StockNews.com initiated coverage on United Airlines in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Morgan Stanley increased their target price on United Airlines from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 4th. Finally, BNP Paribas upgraded United Airlines from an “underperform” rating to an “outperform” rating and set a $70.00 price objective on the stock in a research report on Tuesday, March 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.32.

Insider Activity

In related news, Director Edward Shapiro acquired 25,000 shares of United Airlines stock in a transaction dated Wednesday, March 15th. The shares were purchased at an average cost of $42.59 per share, with a total value of $1,064,750.00. Following the completion of the purchase, the director now owns 200,000 shares of the company’s stock, valued at $8,518,000. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Gregory L. Hart sold 20,000 shares of the firm’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $50.73, for a total transaction of $1,014,600.00. Following the transaction, the executive vice president now directly owns 19,652 shares of the company’s stock, valued at $996,945.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward Shapiro bought 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The stock was acquired at an average cost of $42.59 per share, for a total transaction of $1,064,750.00. Following the completion of the purchase, the director now directly owns 200,000 shares of the company’s stock, valued at $8,518,000. The disclosure for this purchase can be found here. Insiders own 0.37% of the company’s stock.

United Airlines Profile

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United Airlines Holdings, Inc is a holding company, which engages in the provision of transportation services. It operates through the following geographical segments: Domestic, Atlantic, Pacific, and Latin America. The company was founded on December 30, 1968 and is headquartered in Chicago, IL.

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Institutional Ownership by Quarter for United Airlines (NASDAQ:UAL)

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