Kovack Advisors Inc. Trims Stock Position in United Airlines Holdings, Inc. (NASDAQ:UAL)

Kovack Advisors Inc. decreased its holdings in United Airlines Holdings, Inc. (NASDAQ:UAL) by 26.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,083 shares of the transportation company’s stock after selling 1,470 shares during the period. Kovack Advisors Inc.’s holdings in United Airlines were worth $233,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of UAL. Farther Finance Advisors LLC grew its stake in United Airlines by 13.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,647 shares of the transportation company’s stock valued at $94,000 after purchasing an additional 189 shares in the last quarter. Wahed Invest LLC increased its stake in shares of United Airlines by 13.7% during the first quarter. Wahed Invest LLC now owns 1,591 shares of the transportation company’s stock valued at $76,000 after acquiring an additional 192 shares during the period. Cromwell Holdings LLC boosted its position in shares of United Airlines by 31.4% during the 3rd quarter. Cromwell Holdings LLC now owns 930 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 222 shares in the last quarter. Mather Group LLC. raised its position in shares of United Airlines by 26.6% during the second quarter. Mather Group LLC. now owns 1,174 shares of the transportation company’s stock worth $56,000 after purchasing an additional 247 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in United Airlines by 1.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 22,404 shares of the transportation company’s stock valued at $1,278,000 after purchasing an additional 248 shares during the period. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

United Airlines Stock Performance

UAL stock opened at $91.17 on Friday. The company has a 50 day moving average price of $66.04 and a 200 day moving average price of $54.19. United Airlines Holdings, Inc. has a fifty-two week low of $37.02 and a fifty-two week high of $93.33. The stock has a market capitalization of $29.98 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 1.06 and a beta of 1.39. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.79 and a quick ratio of 0.72.

United Airlines (NASDAQ:UAL) last posted its earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $14.84 billion during the quarter, compared to analysts’ expectations of $14.76 billion. During the same period in the previous year, the firm earned $3.65 earnings per share. Analysts forecast 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 share buyback program on Tuesday, October 15th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the transportation company to purchase up to 7.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

UAL has been the topic of several recent research reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $119.00 price objective on shares of United Airlines in a research report on Friday. Sanford C. Bernstein lifted their target price on shares of United Airlines from $68.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Jefferies Financial Group raised their price target on United Airlines from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Morgan Stanley raised their target price on United Airlines from $80.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, TD Cowen upped their price target on United Airlines from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, United Airlines currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.61.

Insider Activity

In other news, EVP Torbjorn J. Enqvist sold 14,500 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $72.00, for a total value of $1,044,000.00. Following the completion of the transaction, the executive vice president now directly owns 30,427 shares in the company, valued at approximately $2,190,744. The trade was a 32.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $1,407,700.00. Following the sale, the executive vice president now owns 40,012 shares of the company’s stock, valued at $3,218,565.28. The trade was a 30.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.63% of the stock is owned by corporate insiders.

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.