Assetmark Inc. Increases Position in United Airlines Holdings Inc (NASDAQ:UAL)

Key Points

• Assetmark Inc. significantly increased its stake in United Airlines by 1,261.4%, now holding 324,522 shares valued at approximately $22.4 million.
• Several hedge funds have also boosted their positions in United Airlines, including Sanders Capital, which increased its holdings by 46.4% in the fourth quarter.
• Wall Street analysts currently have a consensus price target of $111.43 for United Airlines, with the majority rating the stock as a "buy."

Assetmark Inc. lifted its holdings in shares of United Airlines Holdings Inc (NASDAQ:UAL - Free Report) by 1,261.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 324,522 shares of the transportation company's stock after acquiring an additional 300,684 shares during the quarter. Assetmark Inc. owned 0.10% of United Airlines worth $22,408,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of UAL. Sanders Capital LLC increased its position in shares of United Airlines by 46.4% during the fourth quarter. Sanders Capital LLC now owns 13,848,308 shares of the transportation company's stock worth $1,344,671,000 after acquiring an additional 4,390,721 shares during the last quarter. FMR LLC increased its position in shares of United Airlines by 70.9% during the fourth quarter. FMR LLC now owns 7,268,775 shares of the transportation company's stock worth $705,798,000 after acquiring an additional 3,015,979 shares during the last quarter. Senator Investment Group LP grew 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 in the last quarter. Capital World Investors grew its stake in United Airlines by 22.4% in 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 in the last quarter. Finally, Susquehanna Advisors Group Inc. acquired a new position in United Airlines in the fourth quarter worth about $173,211,000. 69.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UAL has been the subject of a number of research reports. Jefferies Financial Group decreased their price target on United Airlines from $154.00 to $80.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Evercore ISI reiterated an "outperform" rating and issued a $105.00 price target on shares of United Airlines in a research note on Thursday, July 17th. Susquehanna lifted their price target on United Airlines from $81.00 to $109.00 and gave the stock a "positive" rating in a research note on Tuesday, July 15th. Sanford C. Bernstein reiterated an "outperform" rating on shares of United Airlines in a research note on Tuesday, May 13th. Finally, Wall Street Zen downgraded United Airlines from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, United Airlines presently has a consensus rating of "Buy" and a consensus price target of $111.43.

United Airlines Stock Performance

Shares of UAL stock opened at $91.11 on Friday. The business has a 50 day moving average of $81.31 and a two-hundred day moving average of $83.79. The company has a market cap of $29.50 billion, a P/E ratio of 9.13, a PEG ratio of 1.16 and a beta of 1.42. 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 52 week low of $37.02 and a 52 week high of $116.00.

United Airlines (NASDAQ:UAL - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The transportation company reported $3.87 earnings per share 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 return on equity of 30.09% and a net margin of 5.71%. The business's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.14 earnings per share. As a group, analysts anticipate that United Airlines Holdings Inc will post 12.96 EPS for the current year.

Insider Buying and Selling at United Airlines

In other news, EVP Torbjorn J. Enqvist sold 20,000 shares of United Airlines stock in a transaction that occurred 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 sale, the executive vice president owned 62,358 shares of the company's stock, valued at approximately $5,750,654.76. The trade was a 24.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.71% of the company's stock.

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.

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