Wheels Up Experience (NYSE:UP) Stock Price Down 6.8% – Here’s What Happened

Wheels Up Experience Inc. (NYSE:UP) was down 6.8% on Tuesday . The stock traded as low as $2.43 and last traded at $2.45. Approximately 124,342 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,017,822 shares. The stock had previously closed at $2.63.

Wheels Up Experience Trading Up 8.3 %

The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -5.22 and a beta of 2.24. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 238.01. The business has a 50 day moving average price of $2.18 and a 200-day moving average price of $2.32.

Insider Buying and Selling at Wheels Up Experience

In other news, Director Donald Lee Moak sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $2.50, for a total transaction of $50,000.00. Following the completion of the sale, the director now directly owns 130,231 shares in the company, valued at $325,577.50. This trade represents a 13.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in Wheels Up Experience by 57.6% in the third quarter. Geode Capital Management LLC now owns 1,965,280 shares of the company’s stock valued at $4,757,000 after acquiring an additional 718,411 shares in the last quarter. State Street Corp raised its stake in shares of Wheels Up Experience by 41.9% in the 3rd quarter. State Street Corp now owns 1,322,891 shares of the company’s stock valued at $3,201,000 after purchasing an additional 390,414 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Wheels Up Experience by 277.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 796,827 shares of the company’s stock worth $1,928,000 after purchasing an additional 585,589 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Wheels Up Experience by 1,399.2% in the second quarter. Bank of New York Mellon Corp now owns 264,377 shares of the company’s stock worth $500,000 after purchasing an additional 246,742 shares in the last quarter. Finally, Instrumental Wealth LLC grew its stake in Wheels Up Experience by 21.1% in the first quarter. Instrumental Wealth LLC now owns 189,268 shares of the company’s stock worth $545,000 after purchasing an additional 32,963 shares in the last quarter. Hedge funds and other institutional investors own 98.20% of the company’s stock.

About Wheels Up Experience

Wheels Up Experience Inc provides private aviation services in the United States and internationally. The company offers membership programs consisting of Connect that offers members variable dynamic pricing on a per trip basis and flexibility on their schedule; Core for private flyers; and UP for Business for small and medium enterprise, and large corporate customers for whom it is primary provider of private flights, as well as supplementary solution to their own aircraft operations.