ABC Arbitrage SA Invests $220,000 in United Airlines Holdings Inc (NASDAQ:UAL)

Key Points

• ABC Arbitrage SA has acquired a new position in United Airlines by purchasing 3,187 shares valued at approximately $220,000.
• Institutional investors now own 69.69% of United Airlines, with significant increases in stakes by firms like Bank of New York Mellon and GAMMA Investing.
• United Airlines reported a quarterly EPS of $3.87, exceeding the consensus estimate, and showed a revenue growth of 1.4% compared to the previous year.

ABC Arbitrage SA bought a new stake in shares of United Airlines Holdings Inc (NASDAQ:UAL - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,187 shares of the transportation company's stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Pacer Advisors Inc. raised its holdings in shares of United Airlines by 10,777.6% in the first quarter. Pacer Advisors Inc. now owns 5,068,103 shares of the transportation company's stock worth $349,953,000 after buying an additional 5,021,511 shares during the period. Sanders Capital LLC boosted its holdings in United Airlines by 46.4% during the 4th quarter. Sanders Capital LLC now owns 13,848,308 shares of the transportation company's stock valued at $1,344,671,000 after acquiring an additional 4,390,721 shares during the period. FMR LLC grew its position in United Airlines by 70.9% in the 4th quarter. FMR LLC now owns 7,268,775 shares of the transportation company's stock valued at $705,798,000 after acquiring an additional 3,015,979 shares during the last quarter. Senator Investment Group LP increased its stake in United Airlines by 214.8% in the fourth quarter. Senator Investment Group LP now owns 3,261,051 shares of the transportation company's stock worth $316,648,000 after purchasing an additional 2,225,000 shares during the period. Finally, Capital World Investors lifted its position in shares of United Airlines by 22.4% during the fourth quarter. Capital World Investors now owns 9,788,405 shares of the transportation company's stock worth $950,461,000 after purchasing an additional 1,791,654 shares during the last quarter. Hedge funds and other institutional investors own 69.69% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Susquehanna increased their price objective on United Airlines from $81.00 to $109.00 and gave the stock a "positive" rating in a research note on Tuesday, July 15th. Wall Street Zen downgraded United Airlines from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Cowen restated a "buy" rating on shares of United Airlines in a research note on Tuesday, July 15th. UBS Group upped their price objective on shares of United Airlines from $103.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday, July 15th. Finally, Barclays reiterated an "overweight" rating and set a $100.00 target price (up from $94.00) on shares of United Airlines in a report on Tuesday, July 15th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $111.43.

Insider Activity at United Airlines

In related news, EVP Torbjorn J. Enqvist sold 20,000 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $92.22, for a total transaction of $1,844,400.00. Following the completion of the transaction, the executive vice president owned 62,358 shares in the company, valued at $5,750,654.76. This represents a 24.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michelle Freyre sold 900 shares of United Airlines stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $92.13, for a total value of $82,917.00. Following the completion of the sale, the director owned 829 shares in the company, valued at approximately $76,375.77. The trade was a 52.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,672 shares of company stock valued at $4,144,411. 0.71% of the stock is owned by company insiders.

United Airlines Stock Performance

UAL stock traded down $0.89 during trading on Thursday, hitting $87.98. 3,665,975 shares of the company traded hands, compared to its average volume of 8,151,884. United Airlines Holdings Inc has a 1 year low of $39.11 and a 1 year high of $116.00. The company has a market cap of $28.48 billion, a PE ratio of 8.82, a P/E/G ratio of 1.14 and a beta of 1.48. The stock's 50-day simple moving average is $83.51 and its 200 day simple moving average is $82.72. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.70 and a quick ratio of 0.65.

United Airlines (NASDAQ:UAL - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The transportation company reported $3.87 EPS for the quarter, beating the consensus estimate of $3.81 by $0.06. The company had revenue of $15.24 billion for the quarter, compared to analyst estimates of $15.31 billion. United Airlines had a net margin of 5.71% and a return on equity of 30.09%. The firm's revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the business earned $4.14 earnings per share. On average, equities analysts expect that United Airlines Holdings Inc will post 12.96 earnings per share for the current fiscal year.

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.