Empirical Financial Services LLC d.b.a. Empirical Wealth Management Makes New $3.17 Million Investment in United Airlines Holdings Inc (NASDAQ:UAL)

Key Points

• Empirical Wealth Management made a new investment of $3.17 million, acquiring 45,900 shares of United Airlines Holdings Inc (UAL), in the first quarter of the year.
• Brokerages are optimistic about United Airlines, with multiple firms raising their price targets and giving the stock a consensus rating of "Buy" and a target of $111.43.
• Insiders sold a total of 45,672 shares of United Airlines stock over the last quarter, with significant transactions from both a Director and the President of the company.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of United Airlines Holdings Inc (NASDAQ:UAL - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 45,900 shares of the transportation company's stock, valued at approximately $3,169,000.

Other institutional investors have also recently bought and sold shares of the company. Capital A Wealth Management LLC bought a new position in shares of United Airlines during the fourth quarter worth $31,000. Eastern Bank bought a new position in shares of United Airlines during the first quarter worth $35,000. CENTRAL TRUST Co lifted its position in United Airlines by 57.2% in the 1st quarter. CENTRAL TRUST Co now owns 816 shares of the transportation company's stock valued at $56,000 after acquiring an additional 297 shares in the last quarter. Ameriflex Group Inc. acquired a new position in United Airlines in the 4th quarter worth $58,000. Finally, Blume Capital Management Inc. boosted its stake in United Airlines by 75.5% in the 1st quarter. Blume Capital Management Inc. now owns 930 shares of the transportation company's stock worth $64,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 69.69% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on UAL. TD Cowen boosted their price target on shares of United Airlines from $101.00 to $127.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Bank of America raised their price objective 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. Cowen restated a "buy" rating on shares of United Airlines in a report on Tuesday, July 15th. Barclays restated an "overweight" rating and set a $100.00 target price (up previously from $94.00) on shares of United Airlines in a research report on Tuesday, July 15th. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of United Airlines in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, United Airlines currently has a consensus rating of "Buy" and a consensus price target of $111.43.

Insider Buying and Selling

In other United Airlines news, Director Michelle Freyre sold 900 shares of the firm's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $92.13, for a total value of $82,917.00. Following the completion of the sale, the director directly owned 829 shares in the company, valued at approximately $76,375.77. This trade represents a 52.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Brett J. Hart sold 24,772 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $89.50, for a total transaction of $2,217,094.00. Following the completion of the sale, the president owned 283,638 shares of the company's stock, valued at $25,385,601. The trade was a 8.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,672 shares of company stock valued at $4,144,411 over the last quarter. Insiders own 0.71% of the company's stock.

United Airlines Price Performance

UAL stock opened at $88.31 on Friday. The company has a fifty day moving average price of $82.46 and a 200-day moving average price of $83.39. The company has a market capitalization of $28.59 billion, a P/E ratio of 8.85, a PEG ratio of 1.16 and a beta of 1.42. United Airlines Holdings Inc has a 52-week low of $37.02 and a 52-week high of $116.00. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.65 and a current ratio of 0.70.

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

About United Airlines

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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