KLP Kapitalforvaltning AS Buys New Position in United Airlines Holdings Inc (NASDAQ:UAL)

KLP Kapitalforvaltning AS acquired a new position in United Airlines Holdings Inc (NASDAQ:UAL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 143,200 shares of the transportation company's stock, valued at approximately $9,888,000.

Several other large investors also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in United Airlines by 150.2% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 149,920 shares of the transportation company's stock valued at $10,352,000 after buying an additional 90,008 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in United Airlines during the 1st quarter valued at about $4,342,000. Choreo LLC grew its holdings in United Airlines by 2.6% during the 1st quarter. Choreo LLC now owns 13,695 shares of the transportation company's stock valued at $946,000 after buying an additional 345 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in United Airlines by 1,575.1% during the 1st quarter. Allianz Asset Management GmbH now owns 1,277,374 shares of the transportation company's stock valued at $88,203,000 after buying an additional 1,201,118 shares in the last quarter. Finally, Peregrine Asset Advisers Inc. boosted its position in shares of United Airlines by 1,049.3% during the 1st quarter. Peregrine Asset Advisers Inc. now owns 56,580 shares of the transportation company's stock valued at $3,907,000 after acquiring an additional 51,657 shares during the last quarter. Hedge funds and other institutional investors own 69.69% of the company's stock.

Insider Activity

In other news, EVP Torbjorn J. Enqvist sold 20,000 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $92.22, for a total transaction of $1,844,400.00. Following the transaction, the executive vice president owned 62,358 shares of the company's stock, valued at approximately $5,750,654.76. This represents a 24.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.71% of the company's stock.

United Airlines Trading Up 1.5%

UAL traded up $1.38 during trading hours on Friday, reaching $91.11. 5,260,638 shares of the company's stock traded hands, compared to its average volume of 7,927,403. The firm has a 50-day moving average price of $81.31 and a 200 day moving average price of $83.79. United Airlines Holdings Inc has a 52-week low of $37.02 and a 52-week high of $116.00. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $29.50 billion, a PE ratio of 9.13, a PEG ratio of 1.16 and a beta of 1.42.

United Airlines (NASDAQ:UAL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The transportation company reported $3.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.81 by $0.06. United Airlines had a return on equity of 30.09% and a net margin of 5.71%. The company had revenue of $15.24 billion during the quarter, compared to analysts' expectations of $15.31 billion. During the same quarter in the previous year, the business earned $4.14 EPS. United Airlines's revenue was up 1.4% compared to the same quarter last year. As a group, sell-side analysts predict that United Airlines Holdings Inc will post 12.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on UAL shares. Jefferies Financial Group dropped their price target on United Airlines from $154.00 to $80.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Cowen reiterated a "buy" rating on shares of United Airlines in a research report on Tuesday, July 15th. Sanford C. Bernstein reiterated an "outperform" rating on shares of United Airlines in a research report on Tuesday, May 13th. Cantor Fitzgerald set a $88.00 target price on United Airlines in a research report on Tuesday, April 22nd. Finally, TD Cowen boosted their target price on United Airlines from $101.00 to $127.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $111.43.

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.