Sound Income Strategies LLC acquired a new stake in shares of United Airlines Holdings, Inc. (NASDAQ:UAL – Get Rating) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 722 shares of the transportation company’s stock, valued at approximately $32,000.
A number of other hedge funds have also made changes to their positions in the stock. Capital International Investors acquired a new position in United Airlines in the first quarter worth approximately $351,299,000. Renaissance Technologies LLC grew its position in United Airlines by 247.3% in the fourth quarter. Renaissance Technologies LLC now owns 6,025,263 shares of the transportation company’s stock worth $227,152,000 after buying an additional 4,290,600 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in United Airlines by 1,613.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,695,977 shares of the transportation company’s stock worth $139,338,000 after buying an additional 3,480,233 shares during the last quarter. Altimeter Capital Management LP acquired a new position in United Airlines in the first quarter worth approximately $115,175,000. Finally, Two Sigma Investments LP acquired a new position in United Airlines in the fourth quarter worth approximately $61,857,000. Institutional investors and hedge funds own 67.77% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on UAL shares. Raymond James lifted their price target on shares of United Airlines from $55.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, April 3rd. StockNews.com began coverage on shares of United Airlines in a research note on Thursday, May 18th. They issued a “hold” rating for the company. JPMorgan Chase & Co. decreased their price objective on shares of United Airlines from $81.00 to $70.00 in a research note on Monday, May 8th. Morgan Stanley raised their price objective on shares of United Airlines from $70.00 to $75.00 in a research note on Thursday, May 18th. Finally, BNP Paribas raised shares of United Airlines from an “underperform” rating to an “outperform” rating and set a $70.00 price objective for the company in a research note on Tuesday, March 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $55.53.
Insider Buying and Selling
United Airlines Stock Down 1.5 %
UAL stock opened at $52.70 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.86 and a debt-to-equity ratio of 4.13. United Airlines Holdings, Inc. has a 1 year low of $31.58 and a 1 year high of $55.04. The company has a fifty day simple moving average of $46.92 and a 200 day simple moving average of $46.65. The firm has a market cap of $17.28 billion, a PE ratio of 9.05 and a beta of 1.41.
United Airlines (NASDAQ:UAL – Get Rating) last released its quarterly earnings data on Wednesday, April 19th. The transportation company reported ($0.63) earnings per share (EPS) for the quarter, beating 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 business had revenue of $11.43 billion during the quarter, compared to analyst estimates of $11.43 billion. During the same quarter in the previous year, the business earned ($4.24) EPS. United Airlines’s quarterly revenue was up 51.1% compared to the same quarter last year. Sell-side analysts anticipate that United Airlines Holdings, Inc. will post 9.18 EPS for the current fiscal year.
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, training, and maintenance services for third parties.
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