iA Global Asset Management Inc. Sells 79,413 Shares of United Airlines Holdings Inc (NASDAQ:UAL)

Key Points

• iA Global Asset Management Inc. reduced its holdings in United Airlines by 65.6%, selling 79,413 shares and now owns 41,642 shares worth approximately $2.87 million.
• Insider transactions include EVP Torbjorn J. Enqvist selling 20,000 shares for about $1.84 million, while President Brett J. Hart sold 24,772 shares valued at approximately $2.22 million.
• Equities analysts have mixed ratings on United Airlines, with Wall Street Zen downgrading from "buy" to "hold," while Bank of America raised its target price from $90 to $108 and retained a "buy" rating.

iA Global Asset Management Inc. reduced its position in shares of United Airlines Holdings Inc (NASDAQ:UAL - Free Report) by 65.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 41,642 shares of the transportation company's stock after selling 79,413 shares during the quarter. iA Global Asset Management Inc.'s holdings in United Airlines were worth $2,875,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in UAL. Capital International Investors raised its holdings in shares of United Airlines by 6.3% in the 4th quarter. Capital International Investors now owns 21,261,443 shares of the transportation company's stock worth $2,064,825,000 after acquiring an additional 1,257,443 shares during the last quarter. Sanders Capital LLC boosted its stake in United Airlines by 46.4% during the 4th quarter. Sanders Capital LLC now owns 13,848,308 shares of the transportation company's stock valued at $1,344,671,000 after purchasing an additional 4,390,721 shares during the last quarter. Capital World Investors increased its holdings in United Airlines by 22.4% during the 4th quarter. Capital World Investors now owns 9,788,405 shares of the transportation company's stock worth $950,461,000 after purchasing an additional 1,791,654 shares in the last quarter. FMR LLC raised its stake in shares of United Airlines by 70.9% in the fourth quarter. FMR LLC now owns 7,268,775 shares of the transportation company's stock worth $705,798,000 after purchasing an additional 3,015,979 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of United Airlines by 7.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,885,009 shares of the transportation company's stock valued at $571,490,000 after purchasing an additional 392,610 shares in the last quarter. Institutional investors own 69.69% of the company's stock.

United Airlines Stock Performance

UAL traded down $0.89 during midday trading on Thursday, reaching $87.98. The company had a trading volume of 3,665,975 shares, compared to its average volume of 8,151,884. United Airlines Holdings Inc has a 12-month low of $39.11 and a 12-month high of $116.00. The business has a 50-day moving average price of $83.51 and a two-hundred day moving average price of $82.72. The stock has a market cap of $28.48 billion, a PE ratio of 8.82, a P/E/G ratio of 1.14 and a beta of 1.48. 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 posted its quarterly earnings results on Wednesday, July 16th. The transportation company reported $3.87 EPS 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 company had revenue of $15.24 billion for the quarter, compared to analysts' expectations of $15.31 billion. During the same quarter in the previous year, the firm posted $4.14 EPS. United Airlines's revenue was up 1.4% on a year-over-year basis. On average, sell-side analysts expect that United Airlines Holdings Inc will post 12.96 earnings per share for the current fiscal year.

Insider Activity

In related news, President Brett J. Hart sold 24,772 shares of United Airlines stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $89.50, for a total value of $2,217,094.00. Following the completion of the sale, the president owned 283,638 shares of the company's stock, valued at approximately $25,385,601. This trade represents a 8.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Torbjorn J. Enqvist sold 20,000 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $92.22, for a total value of $1,844,400.00. Following the completion of the sale, the executive vice president owned 62,358 shares in the company, valued at $5,750,654.76. This represents a 24.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,672 shares of company stock valued at $4,144,411 in the last 90 days. Insiders own 0.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Bank of America upped their price target on United Airlines from $90.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Wall Street Zen downgraded shares of United Airlines from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Cantor Fitzgerald set a $88.00 target price on shares of United Airlines in a research note on Tuesday, April 22nd. Susquehanna raised their price target 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. Finally, UBS Group upped their price objective on shares of United Airlines from $103.00 to $114.00 and gave the stock a "buy" 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 issued a strong buy rating to the company. According to data from MarketBeat.com, United Airlines presently has an average rating of "Buy" and a consensus target price 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.