BG Investment Services LLC Acquires 33,095 Shares of United Airlines Holdings Inc $UAL

Key Points

• BG Investment Services acquired 33,095 United Airlines shares in the third quarter, valued at approximately $3.67 million. Institutional investors and hedge funds collectively own 69.69% of UAL.
• United reported quarterly revenue of $17.88 billion, up 17.4% year over year, but earnings of $2.54 per share narrowly missed analyst expectations of $2.57.
• Analysts maintain a generally bullish outlook, with a “Moderate Buy” consensus and an average price target of $156.19, though several firms have recently reduced their targets and rising fuel costs remain a key risk.

BG Investment Services LLC acquired a new position in shares of United Airlines Holdings Inc (NASDAQ:UAL - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 33,095 shares of the transportation company's stock, valued at approximately $3,672,000.

Several other hedge funds also recently made changes to their positions in UAL. Citizens Financial Group Inc. RI raised its position in United Airlines by 75.9% in the third quarter. Citizens Financial Group Inc. RI now owns 14,505 shares of the transportation company's stock worth $1,609,000 after acquiring an additional 6,259 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its position in shares of United Airlines by 13.3% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,312 shares of the transportation company's stock worth $367,000 after purchasing an additional 389 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of United Airlines by 21.3% during the 3rd quarter. Sterling Capital Management LLC now owns 14,912 shares of the transportation company's stock worth $1,654,000 after purchasing an additional 2,622 shares in the last quarter. MBL Wealth LLC boosted its position in shares of United Airlines by 89.5% during the 3rd quarter. MBL Wealth LLC now owns 3,616 shares of the transportation company's stock worth $401,000 after purchasing an additional 1,708 shares in the last quarter. Finally, U S Global Investors Inc. grew its stake in shares of United Airlines by 3.5% during the 3rd quarter. U S Global Investors Inc. now owns 808,203 shares of the transportation company's stock worth $89,670,000 after purchasing an additional 27,479 shares during the period. Institutional investors and hedge funds own 69.69% of the company's stock.

United Airlines Price Performance

Shares of NASDAQ UAL opened at $97.93 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.38. The company's 50-day moving average price is $108.88 and its 200 day moving average price is $110.69. United Airlines Holdings Inc has a 52 week low of $84.64 and a 52 week high of $138.77. The stock has a market cap of $31.82 billion, a price-to-earnings ratio of 8.96, a PEG ratio of 1.19 and a beta of 1.30.

United Airlines (NASDAQ:UAL - Get Free Report) last announced its earnings results on Tuesday, October 20th. The transportation company reported $2.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.57 by ($0.03). The business had revenue of $17.88 billion for the quarter, compared to analyst estimates of $17.89 billion. United Airlines had a return on equity of 17.59% and a net margin of 5.46%. The business's revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.78 EPS. As a group, research analysts forecast that United Airlines Holdings Inc will post 7.17 earnings per share for the current fiscal year.

Trending Headlines about United Airlines

Here are the key news stories impacting United Airlines this week:

• Positive Sentiment: Analysts remain constructive on UAL. Morgan Stanley reaffirmed its Buy rating, while TD Cowen maintained its Buy rating. Wells Fargo, Argus and Susquehanna also retain positive ratings, with price targets ranging from $125 to $155 despite recent reductions. Morgan Stanley Reaffirms Their Buy Rating on United Airlines Holdings
• Positive Sentiment: United’s premium-travel strategy, record third-quarter revenue and forecast for fourth-quarter revenue growth above 20% support the long-term case for higher margins and stronger earnings. United Airlines targets double-digit margins
• Positive Sentiment: Heavy trading in UAL call options indicates that some traders are positioning for a rebound, although options activity is not a guarantee of future performance. Stock Traders Purchase Large Volume of United Airlines Call Options
• Neutral Sentiment: United is opening what is described as the largest airport lounge in the Americas, potentially strengthening its premium brand and customer experience, but the near-term financial impact is unclear. United Airlines is opening the largest airport lounge in the Americas
• Negative Sentiment: Higher oil and jet-fuel prices are the main near-term concern. Airlines are favoring higher fares over fuller planes to protect profits, while United’s profit outlook was reportedly well below estimates because of fuel costs. US airlines favor higher fares over fuller planes as fuel costs squeeze profits
• Negative Sentiment: UAL is declining alongside American Airlines and Delta as the oil-price surge reverses the airline sector’s post-earnings relief rally. American Airlines Sinks as Oil Climb Reverses Post-Earnings Rebound
• Negative Sentiment: BMO Capital cut its UAL price target to $135 from $140, adding to concerns that analysts are moderating expectations even while maintaining a generally bullish stance. BMO Capital Adjusts Price Target on United Airlines

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Evercore reiterated an "outperform" rating and issued a $160.00 price target on shares of United Airlines in a report on Wednesday. Zacks Research cut shares of United Airlines from a "hold" rating to a "strong sell" rating in a research note on Monday, September 28th. TD Cowen decreased their price objective on shares of United Airlines from $192.00 to $167.00 and set a "buy" rating on the stock in a report on Friday, October 2nd. BMO Capital Markets lowered their target price on shares of United Airlines from $140.00 to $135.00 and set an "outperform" rating on the stock in a research report on Thursday. Finally, UBS Group dropped their target price on shares of United Airlines from $146.00 to $139.00 and set a "buy" rating for the company in a report on Friday, October 16th. Sixteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $156.19.

Insider Activity at United Airlines

In related news, President Brett Hart sold 30,108 shares of United Airlines stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $120.72, for a total transaction of $3,634,637.76. Following the completion of the transaction, the president directly owned 371,583 shares in the company, valued at $44,857,499.76. The trade was a 7.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Andrew P. Nocella sold 5,000 shares of United Airlines stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $117.00, for a total value of $585,000.00. Following the transaction, the executive vice president owned 214,955 shares of the company's stock, valued at $25,149,735. This represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 42,308 shares of company stock worth $5,122,554 over the last quarter. Company insiders own 0.86% of the company's stock.

United Airlines Profile

United Airlines Holdings, Inc is the parent company of United Airlines, a major U.S. commercial airline headquartered in Chicago, Illinois. The company provides scheduled passenger air transportation and air cargo services, connecting customers across the United States and to international destinations.

United operates a broad network serving North America, Latin America, Europe, Asia, Africa and Oceania. Its operations are supported by hubs in major U.S. cities, including Chicago, Denver, Houston, Los Angeles, Newark, San Francisco and Washington, DC, as well as an extensive network of regional carriers operating under the United Express brand.

The company offers several travel classes and related services, including premium-cabin seating, onboard amenities, airport lounges and the MileagePlus customer loyalty program.

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