California Public Employees Retirement System Grows Position in United Airlines Holdings, Inc. (NASDAQ:UAL)

Posted by Defense World Staff on May 11th, 2023

California Public Employees Retirement System boosted its stake in shares of United Airlines Holdings, Inc. (NASDAQ:UAL – Get Rating) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 729,382 shares of the transportation company’s stock after buying an additional 9,615 shares during the quarter. California Public Employees Retirement System owned approximately 0.22% of United Airlines worth $27,498,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new position in United Airlines during the fourth quarter worth $25,000. EWG Elevate Inc. acquired a new position in United Airlines during the fourth quarter worth $25,000. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of United Airlines in the fourth quarter valued at about $32,000. Addison Advisors LLC grew its holdings in shares of United Airlines by 375.1% in the fourth quarter. Addison Advisors LLC now owns 898 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 709 shares during the period. Finally, Ameliora Wealth Management Ltd. purchased a new position in United Airlines during the third quarter worth about $34,000. Institutional investors own 59.73% of the company’s stock.

United Airlines Stock Performance

NASDAQ:UAL opened at $45.52 on Thursday. The company’s 50-day moving average is $43.27 and its two-hundred day moving average is $44.94. The company has a debt-to-equity ratio of 4.13, a current ratio of 0.91 and a quick ratio of 0.86. United Airlines Holdings, Inc. has a 1-year low of $31.58 and a 1-year high of $55.04. The firm has a market capitalization of $14.93 billion, a price-to-earnings ratio of 7.82 and a beta of 1.42.

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, topping the consensus estimate of ($0.73) by $0.10. United Airlines had a net margin of 3.93% and a return on equity of 35.71%. The company had revenue of $11.43 billion during the quarter, compared to analysts’ expectations of $11.43 billion. During the same quarter last year, the business earned ($4.24) EPS. The business’s revenue was up 51.1% on a year-over-year basis. Analysts forecast that United Airlines Holdings, Inc. will post 9.44 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on UAL shares. StockNews.com began coverage on shares of United Airlines in a report on Thursday, March 16th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. lowered their price objective on shares of United Airlines from $81.00 to $70.00 in a research report on Monday. BNP Paribas upgraded shares of United Airlines from an “underperform” rating to an “outperform” rating and set a $70.00 target price on the stock in a research report on Tuesday, March 7th. Barclays upgraded shares of United Airlines from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $52.00 to $80.00 in a research report on Friday, March 10th. Finally, Citigroup lifted their price target on United Airlines from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, April 21st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, United Airlines presently has an average rating of “Hold” and a consensus price target of $55.20.

Insiders Place Their Bets

In other United Airlines news, Director Edward Shapiro bought 25,000 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The shares were acquired at an average cost of $42.59 per share, for a total transaction of $1,064,750.00. Following the transaction, the director now owns 200,000 shares in the company, valued at $8,518,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Chris Kenny sold 16,000 shares of the firm’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $48.94, for a total transaction of $783,040.00. Following the transaction, the vice president now directly owns 8,132 shares of the company’s stock, valued at $397,980.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Edward Shapiro purchased 25,000 shares of United Airlines stock in a transaction dated Wednesday, March 15th. The stock was bought at an average price of $42.59 per share, for a total transaction of $1,064,750.00. Following the completion of the purchase, the director now owns 200,000 shares in the company, valued at approximately $8,518,000. The disclosure for this purchase can be found here. 0.37% of the stock is currently owned by company insiders.

United Airlines Company 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.