United Airlines Holdings Inc $UAL Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. has decreased its stake in United Airlines Holdings Inc by 82.5%, selling 1,323,612 shares and reducing its ownership to approximately 0.09% of the company.
• In the first quarter, several institutional investors, including Vanguard Group Inc. and Alyeska Investment Group L.P., increased their holdings in United Airlines, reflecting overall investor confidence with 69.69% of the stock now owned by institutional investors.
• United Airlines' most recent earnings report showed earnings of $3.87 per share, surpassing analysts' expectations, with a revenue growth of 1.4% year-over-year, despite a decline in earnings compared to the previous year.

Assenagon Asset Management S.A. cut its holdings in shares of United Airlines Holdings Inc (NASDAQ:UAL - Free Report) by 82.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 281,171 shares of the transportation company's stock after selling 1,323,612 shares during the quarter. Assenagon Asset Management S.A. owned 0.09% of United Airlines worth $22,390,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC purchased a new stake in United Airlines during the fourth quarter worth $31,000. Hemington Wealth Management boosted its holdings in United Airlines by 50.6% during the first quarter. Hemington Wealth Management now owns 476 shares of the transportation company's stock worth $32,000 after buying an additional 160 shares in the last quarter. WPG Advisers LLC purchased a new stake in United Airlines during the first quarter worth $32,000. Eastern Bank purchased a new stake in United Airlines in the 1st quarter worth $35,000. Finally, Banque Transatlantique SA purchased a new stake in United Airlines in the 1st quarter worth $35,000. 69.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on UAL shares. Evercore ISI reissued an "outperform" rating and issued a $105.00 price target on shares of United Airlines in a report on Thursday, July 17th. JPMorgan Chase & Co. boosted their price target on shares of United Airlines from $122.00 to $149.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. Barclays reissued an "overweight" rating and issued a $100.00 price target (up previously from $94.00) on shares of United Airlines in a report on Tuesday, July 15th. Cowen reaffirmed a "buy" rating on shares of United Airlines in a research note on Tuesday, July 15th. Finally, UBS Group lifted their target price 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. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $112.57.

Insider Buying and Selling

In other United Airlines news, Director Barney Harford sold 15,823 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $90.03, for a total value of $1,424,544.69. Following the transaction, the director directly owned 89,000 shares in the company, valued at $8,012,670. This represents a 15.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kate Gebo sold 29,953 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $97.59, for a total transaction of $2,923,113.27. Following the completion of the transaction, the executive vice president owned 45,496 shares in the company, valued at $4,439,954.64. This represents a 39.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 106,791 shares of company stock valued at $9,992,318 over the last three months. 0.63% of the stock is currently owned by insiders.

United Airlines Trading Down 2.0%

Shares of NASDAQ UAL traded down $2.13 during mid-day trading on Monday, reaching $104.18. 6,784,649 shares of the company's stock were exchanged, compared to its average volume of 4,920,193. The firm has a market capitalization of $33.73 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 1.38 and a beta of 1.47. United Airlines Holdings Inc has a 52-week low of $51.44 and a 52-week high of $116.00. The company's 50-day moving average is $97.86 and its 200-day moving average is $82.67. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.65 and a current ratio of 0.70.

United Airlines (NASDAQ:UAL - Get Free Report) last posted its earnings results 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 company had revenue of $15.24 billion for the quarter, compared to analysts' expectations of $15.31 billion. United Airlines had a net margin of 5.71% and a return on equity of 30.09%. United Airlines's revenue for the quarter was up 1.4% compared to the same quarter last year. 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. Analysts expect that United Airlines Holdings Inc will post 12.96 EPS for the current fiscal year.

United Airlines 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.