Blueshift Asset Management LLC Purchases Shares of 8,350 United Airlines Holdings Inc (NASDAQ:UAL)

Key Points

• Blueshift Asset Management LLC has acquired 8,350 shares of United Airlines Holdings Inc, valued at approximately $577,000, as part of its new investment strategy in the transportation sector.
• United Airlines reported a quarterly earnings per share of $3.87, surpassing analysts' expectations of $3.81, with revenue hitting $15.24 billion, slightly below the anticipated $15.31 billion.
• Multiple other institutional investors, including CIBC Private Wealth Group LLC and Franklin Resources Inc., have also increased their stakes in United Airlines, collectively indicating a strong interest in the company among hedge funds.

Blueshift Asset Management LLC acquired a new position in United Airlines Holdings Inc (NASDAQ:UAL - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,350 shares of the transportation company's stock, valued at approximately $577,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its stake in shares of United Airlines by 20.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 6,210 shares of the transportation company's stock worth $603,000 after acquiring an additional 1,045 shares during the last quarter. Orion Portfolio Solutions LLC grew its position in United Airlines by 100.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 7,679 shares of the transportation company's stock worth $746,000 after purchasing an additional 3,855 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in United Airlines by 13.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 8,317 shares of the transportation company's stock valued at $863,000 after purchasing an additional 963 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of United Airlines by 14.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 21,477 shares of the transportation company's stock worth $2,085,000 after buying an additional 2,703 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of United Airlines by 6.9% in the 4th quarter. Franklin Resources Inc. now owns 216,611 shares of the transportation company's stock valued at $21,033,000 after acquiring an additional 14,059 shares during the period. Hedge funds and other institutional investors own 69.69% of the company's stock.

Insider Activity at United Airlines

In other news, Director Michelle Freyre sold 900 shares of the business's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $92.13, for a total transaction of $82,917.00. Following the completion of the sale, the director owned 829 shares of the company's stock, valued at $76,375.77. The trade was a 52.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Torbjorn J. Enqvist sold 20,000 shares of the company's stock in a transaction dated 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 transaction, the executive vice president owned 62,358 shares of the company's stock, valued at approximately $5,750,654.76. This trade represents a 24.28% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,672 shares of company stock valued at $4,144,411. 0.71% of the stock is owned by company insiders.

United Airlines Price Performance

NASDAQ:UAL opened at $84.57 on Friday. 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. The stock's 50-day moving average price is $82.65 and its 200-day moving average price is $83.23. The stock has a market capitalization of $27.38 billion, a PE ratio of 8.47, a price-to-earnings-growth ratio of 1.14 and a beta of 1.48.

United Airlines (NASDAQ:UAL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The transportation company reported $3.87 EPS for the quarter, beating the consensus estimate of $3.81 by $0.06. The company had revenue of $15.24 billion for the quarter, compared to analyst estimates of $15.31 billion. United Airlines had a return on equity of 30.09% and a net margin of 5.71%. United Airlines's quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the company earned $4.14 earnings per share. As a group, equities analysts expect that United Airlines Holdings Inc will post 12.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

UAL has been the subject of a number of research reports. Cantor Fitzgerald set a $88.00 price target on United Airlines in a research report on Tuesday, April 22nd. Bank of America raised their price target on shares of United Airlines from $90.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of United Airlines in a report on Tuesday, May 13th. TD Cowen increased their price objective on shares of United Airlines from $101.00 to $127.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Finally, Susquehanna boosted their target price on shares of United Airlines from $81.00 to $109.00 and gave the company a "positive" rating in a research report on Tuesday, July 15th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $111.43.

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.

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