Adage Capital Partners GP L.L.C. Sells 552,303 Shares of United Airlines Holdings Inc $UAL

Key Points

• Adage Capital Partners GP L.L.C. has reduced its stake in United Airlines by 64.8%, selling 552,303 shares and holding 300,109 shares valued at approximately $20.7 million at the end of the first quarter.
• Several institutional investors have significantly increased their holdings in United Airlines, including Pacer Advisors Inc., which raised its position by 10,777.6%, now owning over 5 million shares valued at about $350 million.
• Analysts are optimistic about United Airlines, with multiple firms raising their price targets, including TD Cowen raising it from $101 to $127, contributing to an average consensus target price of $111.43.

Adage Capital Partners GP L.L.C. lessened its stake in shares of United Airlines Holdings Inc (NASDAQ:UAL - Free Report) by 64.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 300,109 shares of the transportation company's stock after selling 552,303 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.09% of United Airlines worth $20,723,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. raised its position in United Airlines by 10,777.6% in the 1st quarter. Pacer Advisors Inc. now owns 5,068,103 shares of the transportation company's stock valued at $349,953,000 after purchasing an additional 5,021,511 shares during the last quarter. Fred Alger Management LLC bought a new position in United Airlines in the 4th quarter valued at $155,860,000. Assenagon Asset Management S.A. raised its position in United Airlines by 1,264.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,604,783 shares of the transportation company's stock valued at $110,810,000 after purchasing an additional 1,487,167 shares during the last quarter. Allianz Asset Management GmbH raised its position in United Airlines by 1,575.1% in 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 purchasing an additional 1,201,118 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in United Airlines in the 1st quarter valued at $72,722,000. Institutional investors own 69.69% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on UAL shares. Susquehanna lifted their price objective on United Airlines from $81.00 to $109.00 and gave the company a "positive" rating in a research report on Tuesday, July 15th. Evercore ISI reiterated an "outperform" rating and issued a $105.00 price objective on shares of United Airlines in a research report on Thursday, July 17th. TD Cowen lifted their price objective on United Airlines from $101.00 to $127.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Bank of America boosted their target price on United Airlines from $90.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of United Airlines in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $111.43.

United Airlines Price Performance

United Airlines stock opened at $106.05 on Friday. The business's 50-day simple moving average is $92.59 and its 200 day simple moving average is $82.02. The stock has a market cap of $34.33 billion, a price-to-earnings ratio of 10.63, a P/E/G ratio of 1.37 and a beta of 1.47. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 1.56. United Airlines Holdings Inc has a 12-month low of $44.57 and a 12-month high of $116.00.

United Airlines (NASDAQ:UAL - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The transportation company reported $3.87 EPS for the quarter, beating analysts' consensus estimates of $3.81 by $0.06. The business had revenue of $15.24 billion during the quarter, compared to the consensus estimate of $15.31 billion. United Airlines had a return on equity of 30.09% and a net margin of 5.71%.The firm's revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.14 earnings per share. United Airlines has set its FY 2025 guidance at 9.000-11.000 EPS. As a group, research analysts anticipate that United Airlines Holdings Inc will post 12.96 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Michelle Freyre sold 900 shares of the company's 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. This represents a 52.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 value of $1,844,400.00. Following the completion of the sale, the executive vice president owned 62,358 shares of the company's stock, valued at $5,750,654.76. This represents a 24.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 106,791 shares of company stock valued at $9,992,318 in the last ninety days. 0.71% of the stock is currently owned by 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.

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