FORA Capital LLC Buys New Position in United Airlines Holdings Inc $UAL

Key Points

• FORA Capital LLC has acquired a new stake in United Airlines Holdings Inc, purchasing 154,457 shares valued at approximately $10.67 million, making it the firm's 11th largest position.
• Analysts have generally favorable views on United Airlines, with several firms increasing their price targets and a majority rating the stock as a Buy or higher.
• United Airlines reported earnings per share of $3.87 for the latest quarter, exceeding expectations, although revenue was slightly below analyst forecasts.

FORA Capital LLC purchased a new stake in shares of United Airlines Holdings Inc (NASDAQ:UAL - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 154,457 shares of the transportation company's stock, valued at approximately $10,665,000. United Airlines makes up approximately 1.1% of FORA Capital LLC's investment portfolio, making the stock its 11th biggest position.

Other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in shares of United Airlines by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 1,520,643 shares of the transportation company's stock worth $105,000,000 after acquiring an additional 16,477 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in United Airlines during the first quarter valued at about $15,089,000. Generate Investment Management Ltd acquired a new position in shares of United Airlines in the first quarter worth about $10,773,000. Exchange Traded Concepts LLC increased its position in shares of United Airlines by 132.9% in the first quarter. Exchange Traded Concepts LLC now owns 7,503 shares of the transportation company's stock worth $518,000 after acquiring an additional 4,281 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of United Airlines by 7,225.9% during the first quarter. GAMMA Investing LLC now owns 360,579 shares of the transportation company's stock valued at $24,898,000 after acquiring an additional 355,657 shares during the period. 69.69% of the stock is currently owned by institutional investors and hedge funds.

United Airlines Stock Up 0.8%

Shares of UAL traded up $0.87 during mid-day trading on Thursday, hitting $105.08. 3,985,769 shares of the company's stock were exchanged, compared to its average volume of 4,907,330. The stock has a market cap of $34.02 billion, a price-to-earnings ratio of 10.53, a P/E/G ratio of 1.35 and a beta of 1.48. The firm has a fifty day moving average of $89.75 and a two-hundred day moving average of $81.95. 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 twelve month low of $41.63 and a twelve month high of $116.00.

United Airlines (NASDAQ:UAL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The transportation company reported $3.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.81 by $0.06. The firm had revenue of $15.24 billion during the quarter, compared to analysts' expectations of $15.31 billion. United Airlines had a net margin of 5.71% and a return on equity of 30.09%. United Airlines's revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $4.14 earnings per share. United Airlines has set its FY 2025 guidance at 9.000-11.000 EPS. On average, sell-side analysts forecast that United Airlines Holdings Inc will post 12.96 earnings per share for the current year.

Insider Activity at United Airlines

In other news, President Brett J. Hart sold 24,772 shares of the stock in a transaction dated 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 transaction, the president owned 283,638 shares of the company's stock, valued at approximately $25,385,601. This represents a 8.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michelle Freyre sold 900 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $92.13, for a total value of $82,917.00. Following the completion of the sale, the director owned 829 shares of the company's stock, valued at approximately $76,375.77. This trade represents a 52.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 106,791 shares of company stock worth $9,992,318 in the last 90 days. Insiders own 0.71% of the company's stock.

Analyst Ratings Changes

UAL has been the subject of a number of recent analyst reports. Cowen reaffirmed a "buy" rating on shares of United Airlines in a research note on Tuesday, July 15th. Barclays reaffirmed an "overweight" rating and issued a $100.00 target price (up previously from $94.00) on shares of United Airlines in a research report on Tuesday, July 15th. UBS Group upped their price target on United Airlines from $103.00 to $114.00 and gave the company a "buy" rating in a research report on Tuesday, July 15th. Wall Street Zen downgraded United Airlines from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Finally, TD Cowen lifted their target price on United Airlines from $101.00 to $127.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $111.43.

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.