Skye Global Management LP Purchases New Shares in United Airlines Holdings, Inc. (NASDAQ:UAL)

Skye Global Management LP acquired a new stake in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 31,500 shares of the transportation company’s stock, valued at approximately $1,797,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Sanders Capital LLC increased its stake in United Airlines by 12.4% during the 3rd quarter. Sanders Capital LLC now owns 9,457,587 shares of the transportation company’s stock worth $539,650,000 after buying an additional 1,040,589 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in United Airlines by 29.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,601,425 shares of the transportation company’s stock valued at $272,559,000 after purchasing an additional 1,263,604 shares in the last quarter. Castle Hook Partners LP boosted its stake in United Airlines by 176.1% during the 3rd quarter. Castle Hook Partners LP now owns 4,245,120 shares of the transportation company’s stock worth $242,227,000 after purchasing an additional 2,707,442 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of United Airlines by 41.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,112,583 shares of the transportation company’s stock worth $177,604,000 after buying an additional 908,558 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position 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 valued at $111,687,000 after buying an additional 1,905,664 shares during the last quarter. Hedge funds and other institutional investors own 69.69% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Linda P. Jojo sold 60,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $95.12, for a total transaction of $5,707,200.00. Following the completion of the transaction, the executive vice president now directly owns 63,599 shares of the company’s stock, valued at approximately $6,049,536.88. The trade was a 48.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kate Gebo sold 17,500 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 40,012 shares in the company, valued at approximately $3,218,565.28. This trade represents a 30.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,000 shares of company stock worth $8,158,900 in the last ninety days. 0.63% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

UAL has been the subject of a number of recent research reports. 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 report on Thursday, November 14th. Bank of America lifted their price objective on United Airlines from $70.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Citigroup raised their target price on United Airlines from $98.00 to $122.00 and gave the stock a “buy” rating in a research note on Tuesday. The Goldman Sachs Group reissued a “buy” rating and set a $119.00 price target on shares of United Airlines in a research report on Friday, November 15th. Finally, Morgan Stanley raised their price objective on shares of United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.15.

United Airlines Trading Down 0.2 %

UAL opened at $96.35 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 firm has a market cap of $31.69 billion, a P/E ratio of 11.62, a P/E/G ratio of 1.14 and a beta of 1.39. United Airlines Holdings, Inc. has a 52 week low of $37.02 and a 52 week high of $101.60. The business has a fifty day simple moving average of $74.95 and a 200-day simple moving average of $57.13.

United Airlines (NASDAQ:UAL) last released 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. 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 the consensus estimate of $14.76 billion. During the same period in the previous year, the company posted $3.65 EPS. On average, equities analysts expect that United Airlines Holdings, Inc. will post 10.23 earnings per share for the current year.

United Airlines declared that its board has initiated a stock buyback program on Tuesday, October 15th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the transportation company to purchase up to 7.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board 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.