State of Alaska Department of Revenue Boosts Stake in United Airlines Holdings, Inc. (NASDAQ:UAL)

State of Alaska Department of Revenue grew its holdings in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 7.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,170 shares of the transportation company’s stock after buying an additional 2,590 shares during the quarter. State of Alaska Department of Revenue’s holdings in United Airlines were worth $2,177,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas bought a new position in United Airlines in the 1st quarter valued at $25,000. Fidelis Capital Partners LLC purchased a new position in United Airlines in the 1st quarter worth about $27,000. Global Trust Asset Management LLC bought a new stake in United Airlines during the 3rd quarter valued at about $29,000. Strategic Investment Solutions Inc. IL purchased a new stake in United Airlines in the 2nd quarter valued at about $30,000. Finally, Crewe Advisors LLC bought a new position in United Airlines in the 1st quarter worth about $32,000. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at United Airlines

In other news, EVP Torbjorn J. Enqvist sold 14,500 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $72.00, for a total transaction of $1,044,000.00. Following the sale, the executive vice president now directly owns 30,427 shares of the company’s stock, valued at $2,190,744. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.63% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on UAL. Sanford C. Bernstein boosted their price target on United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Jefferies Financial Group increased their price target on United Airlines from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Barclays lifted their price objective on United Airlines from $66.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Morgan Stanley increased their target price on shares of United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, TD Cowen boosted their price target on shares of United Airlines from $80.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $78.94.

United Airlines Trading Up 2.8 %

Shares of United Airlines stock opened at $80.46 on Friday. United Airlines Holdings, Inc. has a 12-month low of $35.24 and a 12-month high of $81.35. The firm’s 50 day simple moving average is $58.30 and its two-hundred day simple moving average is $51.99. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 1.95. The firm has a market capitalization of $26.46 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 0.96 and a beta of 1.44.

United Airlines (NASDAQ:UAL) last issued its quarterly earnings results on Tuesday, October 15th. The transportation company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. The company had revenue of $14.84 billion during the quarter, compared to analysts’ expectations of $14.76 billion. During the same quarter in the previous year, the firm posted $3.65 EPS. Analysts predict that United Airlines Holdings, Inc. will post 10.18 EPS for the current year.

United Airlines declared that its Board of Directors has initiated a share repurchase plan on Tuesday, October 15th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the transportation company to buy up to 7.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

United Airlines Company Profile

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.