Versor Investments LP Cuts Position in United Airlines Holdings, Inc. (NASDAQ:UAL)

Versor Investments LP lessened its holdings in United Airlines Holdings, Inc. (NASDAQ:UAL) by 60.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,300 shares of the transportation company’s stock after selling 8,100 shares during the period. Versor Investments LP’s holdings in United Airlines were worth $302,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Trust Asset Management LLC purchased a new position in shares of United Airlines in the 3rd quarter valued at about $29,000. Strategic Investment Solutions Inc. IL purchased a new stake in United Airlines during the 2nd quarter worth approximately $30,000. Armstrong Advisory Group Inc. purchased a new stake in United Airlines during the 3rd quarter worth approximately $36,000. Crewe Advisors LLC purchased a new stake in United Airlines during the 1st quarter worth approximately $32,000. Finally, UMB Bank n.a. increased its stake in United Airlines by 59.7% during the 2nd quarter. UMB Bank n.a. now owns 682 shares of the transportation company’s stock worth $33,000 after buying an additional 255 shares in the last quarter. Hedge funds and other institutional investors own 69.69% of the company’s stock.

Analysts Set New Price Targets

UAL has been the subject of several research reports. Susquehanna boosted their price objective on United Airlines from $70.00 to $85.00 and gave the stock a “positive” rating in a research note on Thursday, October 17th. Barclays boosted their price objective on United Airlines from $75.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday. TD Cowen boosted their price objective on United Airlines from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. The Goldman Sachs Group restated a “buy” rating and issued a $119.00 price target on shares of United Airlines in a research report on Friday. Finally, Bank of America upped their price target on United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $86.61.

Insider Transactions at United Airlines

In other news, EVP Kate Gebo sold 17,500 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $80.44, for a total transaction of $1,407,700.00. Following the sale, the executive vice president now owns 40,012 shares of the company’s stock, valued at approximately $3,218,565.28. This represents a 30.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $72.00, for a total value of $1,044,000.00. Following the sale, the executive vice president now directly owns 30,427 shares in the company, valued at $2,190,744. This represents a 32.27 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.63% of the company’s stock.

United Airlines Stock Up 0.0 %

NASDAQ:UAL opened at $91.17 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.79 and a debt-to-equity ratio of 1.95. The stock’s fifty day moving average is $66.04 and its two-hundred day moving average is $54.19. United Airlines Holdings, Inc. has a 52 week low of $37.02 and a 52 week high of $93.33. The stock has a market capitalization of $29.98 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 1.06 and a beta of 1.39.

United Airlines (NASDAQ:UAL) last released 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 for the quarter, compared to analysts’ expectations of $14.76 billion. During the same period in the prior year, the firm earned $3.65 earnings per share. Research analysts anticipate that United Airlines Holdings, Inc. will post 10.23 EPS for the current year.

United Airlines declared that its Board of Directors has initiated a stock repurchase program on Tuesday, October 15th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the transportation company to reacquire up to 7.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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, flight academy, and maintenance services for third parties.