Deltec Asset Management LLC Acquires New Stake in United Airlines Holdings Inc $UAL

Key Points

• Deltec Asset Management acquired 10,000 United Airlines shares during the third quarter, worth approximately $1.11 million. Institutional investors collectively own 69.69% of UAL’s outstanding stock.
• United Airlines reported quarterly revenue of $17.88 billion, up 17.4% year over year, but earnings per share of $2.54 fell slightly short of analyst expectations.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $156.19, despite several recent target-price reductions.

Deltec Asset Management LLC acquired a new stake in United Airlines Holdings Inc (NASDAQ:UAL - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,000 shares of the transportation company's stock, valued at approximately $1,110,000.

A number of other hedge funds have also modified their holdings of the business. Primecap Management Co. CA purchased a new stake in United Airlines in the 2nd quarter valued at $2,238,617,000. State Street Corp grew its position in United Airlines by 1.4% during the 2nd quarter. State Street Corp now owns 11,788,111 shares of the transportation company's stock worth $1,603,065,000 after purchasing an additional 162,283 shares during the last quarter. Dimensional Fund Advisors LP grew its position in United Airlines by 3.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,664,538 shares of the transportation company's stock worth $521,330,000 after purchasing an additional 190,017 shares during the last quarter. Amundi grew its position in United Airlines by 57.4% during the 2nd quarter. Amundi now owns 1,916,864 shares of the transportation company's stock worth $260,674,000 after purchasing an additional 699,334 shares during the last quarter. Finally, Assetmark Inc. increased its stake in United Airlines by 1.4% in the first quarter. Assetmark Inc. now owns 1,617,257 shares of the transportation company's stock valued at $148,901,000 after purchasing an additional 22,341 shares during the period. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

United Airlines Stock Performance

Shares of UAL opened at $100.69 on Tuesday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.68 and a current ratio of 0.75. The stock has a market capitalization of $32.71 billion, a P/E ratio of 11.10, a P/E/G ratio of 1.24 and a beta of 1.30. The company's fifty day moving average is $109.16 and its two-hundred day moving average is $108.59. United Airlines Holdings Inc has a 1 year low of $84.64 and a 1 year high of $138.77.

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

Insider Activity

In related news, EVP Andrew Nocella sold 5,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $117.00, for a total transaction of $585,000.00. Following the completion of the transaction, the executive vice president directly 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 transaction was disclosed in a document filed with the SEC, which is available at this link. 0.86% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. BMO Capital Markets reduced their target price on shares of United Airlines from $140.00 to $135.00 and set an "outperform" rating for the company in a report on Thursday. Barclays lowered their price target on United Airlines from $175.00 to $160.00 and set an "overweight" rating on the stock in a report on Friday, September 11th. Sanford C. Bernstein set a $160.00 price target on United Airlines in a research report on Tuesday, October 20th. Rothschild & Co Redburn reduced their price objective on United Airlines from $165.00 to $150.00 and set a "buy" rating for the company in a research note on Friday, September 18th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of United Airlines in a research note on Thursday, October 15th. Sixteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $156.19.

About United Airlines

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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