Massachusetts Financial Services Co. MA Sells 115,646 Shares of United Airlines Holdings, Inc. (NASDAQ:UAL)

Massachusetts Financial Services Co. MA lowered its holdings in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 37.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 195,446 shares of the transportation company’s stock after selling 115,646 shares during the period. Massachusetts Financial Services Co. MA’s holdings in United Airlines were worth $11,152,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of UAL. Point72 Asset Management L.P. lifted its stake in shares of United Airlines by 489.2% in the second quarter. Point72 Asset Management L.P. now owns 2,295,246 shares of the transportation company’s stock worth $111,687,000 after buying an additional 1,905,664 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of United Airlines by 29.1% in the second quarter. Dimensional Fund Advisors LP now owns 5,601,425 shares of the transportation company’s stock worth $272,559,000 after buying an additional 1,263,604 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of United Airlines by 177.6% in the third quarter. Assenagon Asset Management S.A. now owns 1,324,398 shares of the transportation company’s stock worth $75,570,000 after buying an additional 847,348 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of United Airlines by 217.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 675,919 shares of the transportation company’s stock worth $32,890,000 after buying an additional 462,957 shares in the last quarter. Finally, Senator Investment Group LP lifted its stake in shares of United Airlines by 39.5% in the second quarter. Senator Investment Group LP now owns 1,046,051 shares of the transportation company’s stock worth $50,901,000 after buying an additional 296,051 shares in the last quarter. Institutional investors own 69.69% of the company’s stock.

Analyst Upgrades and Downgrades

UAL has been the topic of several analyst reports. Jefferies Financial Group upped their target price on shares of United Airlines from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Barclays increased their price objective on shares of United Airlines from $75.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. TD Cowen increased their price objective on shares of United Airlines from $100.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Sanford C. Bernstein increased their price objective on shares of United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $119.00 price objective on shares of United Airlines in a research report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.15.

United Airlines Stock Performance

Shares of NASDAQ UAL opened at $96.51 on Wednesday. The firm has a fifty day moving average price of $73.21 and a 200-day moving average price of $56.57. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.79 and a quick ratio of 0.72. The stock has a market cap of $31.74 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 1.13 and a beta of 1.39. United Airlines Holdings, Inc. has a 1 year low of $37.02 and a 1 year high of $101.60.

United Airlines (NASDAQ:UAL) last posted its earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.23. The company had revenue of $14.84 billion during the quarter, compared to analysts’ expectations of $14.76 billion. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. During the same period last year, the company posted $3.65 earnings per share. Equities analysts anticipate that United Airlines Holdings, Inc. will post 10.23 earnings per share for the current fiscal year.

United Airlines announced that its board has initiated a stock buyback program on Tuesday, October 15th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the transportation company to buy up to 7.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity at United Airlines

In other United Airlines news, EVP Kate Gebo sold 17,500 shares of the stock in a transaction 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Linda P. Jojo sold 60,000 shares of the stock in a transaction on Friday, November 22nd. The shares were 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 $6,049,536.88. This trade represents a 48.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,000 shares of company stock valued at $8,158,900. Corporate insiders own 0.63% of the company’s stock.

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.