Bank of New York Mellon Corp Purchases 16,477 Shares of United Airlines Holdings Inc (NASDAQ:UAL)

Bank of New York Mellon Corp lifted its holdings in United Airlines Holdings Inc (NASDAQ:UAL - Free Report) by 1.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,520,643 shares of the transportation company's stock after buying an additional 16,477 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.47% of United Airlines worth $105,000,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of UAL. Proficio Capital Partners LLC purchased a new stake in United Airlines during the 4th quarter valued at about $137,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in United Airlines during the 1st quarter valued at about $15,089,000. Generate Investment Management Ltd purchased a new stake in United Airlines during the 1st quarter valued at about $10,773,000. Exchange Traded Concepts LLC grew its position in United Airlines by 132.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 7,503 shares of the transportation company's stock valued at $518,000 after purchasing an additional 4,281 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in United Airlines by 7,225.9% during the 1st quarter. GAMMA Investing LLC now owns 360,579 shares of the transportation company's stock valued at $24,898,000 after purchasing an additional 355,657 shares during the last quarter. 69.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on UAL. Raymond James Financial downgraded shares of United Airlines from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Jefferies Financial Group cut their price objective on shares of United Airlines from $154.00 to $80.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Wall Street Zen downgraded shares of United Airlines from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 7th. Evercore ISI dropped their price target on shares of United Airlines from $145.00 to $100.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Finally, UBS Group dropped their price target on shares of United Airlines from $105.00 to $103.00 and set a "buy" rating on the stock in a report on Monday. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $104.50.

United Airlines Stock Performance

Shares of NASDAQ:UAL traded down $3.98 during trading on Friday, hitting $87.69. The company's stock had a trading volume of 9,833,628 shares, compared to its average volume of 7,715,300. The company has a 50-day moving average of $78.78 and a 200-day moving average of $84.36. United Airlines Holdings Inc has a 12 month low of $37.02 and a 12 month high of $116.00. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.78 and a quick ratio of 0.72. The firm has a market cap of $28.64 billion, a price-to-earnings ratio of 7.99, a P/E/G ratio of 1.54 and a beta of 1.42.

United Airlines (NASDAQ:UAL - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The transportation company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.16. United Airlines had a net margin of 6.34% and a return on equity of 32.90%. The firm had revenue of $13.21 billion for the quarter, compared to analysts' expectations of $13.47 billion. On average, sell-side analysts expect that United Airlines Holdings Inc will post 12.96 earnings per share for the current 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.