Independent Advisor Alliance Acquires 20,171 Shares of United Airlines Holdings Inc (NASDAQ:UAL)

Key Points

• Independent Advisor Alliance increased its stake in United Airlines Holdings Inc by 71.7%, holding 48,320 shares worth approximately $3.34 million after acquiring an additional 20,171 shares in the first quarter.
• Wall Street analysts are optimistic about United Airlines, with multiple firms raising their target prices, resulting in a consensus rating of "Buy" and an average target price of $111.43.
• Insider transactions revealed that President Brett J. Hart sold 24,772 shares, reducing his ownership by 8.03%, while EVP Torbjorn J. Enqvist sold 20,000 shares, indicating a trend of insider selling.

Independent Advisor Alliance boosted its position in shares of United Airlines Holdings Inc (NASDAQ:UAL - Free Report) by 71.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,320 shares of the transportation company's stock after acquiring an additional 20,171 shares during the period. Independent Advisor Alliance's holdings in United Airlines were worth $3,337,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of UAL. Capital A Wealth Management LLC bought a new stake in United Airlines during the 4th quarter valued at approximately $31,000. Hemington Wealth Management boosted its position in shares of United Airlines by 50.6% in the first quarter. Hemington Wealth Management now owns 476 shares of the transportation company's stock valued at $32,000 after acquiring an additional 160 shares during the period. Eastern Bank acquired a new stake in shares of United Airlines in the first quarter worth $35,000. Ameriflex Group Inc. bought a new position in United Airlines during the fourth quarter worth $58,000. Finally, CENTRAL TRUST Co increased its position in United Airlines by 57.2% during the first quarter. CENTRAL TRUST Co now owns 816 shares of the transportation company's stock worth $56,000 after acquiring an additional 297 shares during the period. 69.69% of the stock is currently owned by institutional investors.

United Airlines Price Performance

NASDAQ:UAL traded down $0.65 on Thursday, reaching $99.14. The stock had a trading volume of 3,875,107 shares, compared to its average volume of 8,097,696. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $32.09 billion, a P/E ratio of 9.93, a price-to-earnings-growth ratio of 1.27 and a beta of 1.48. United Airlines Holdings Inc has a 1-year low of $40.96 and a 1-year high of $116.00. The stock has a fifty day moving average price of $84.58 and a 200-day moving average price of $82.38.

United Airlines (NASDAQ:UAL - Get Free Report) last released 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. The business 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 revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $4.14 EPS. Research analysts forecast that United Airlines Holdings Inc will post 12.96 EPS for the current year.

Insiders Place Their Bets

In other news, Director Michelle Freyre sold 900 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $92.13, for a total transaction of $82,917.00. Following the sale, the director directly owned 829 shares of the company's stock, valued at $76,375.77. This represents 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 through this link. Also, Director Barney Harford sold 15,823 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $90.03, for a total transaction of $1,424,544.69. Following the completion of the sale, the director directly owned 89,000 shares of the company's stock, valued at approximately $8,012,670. This represents a 15.09% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,495 shares of company stock valued at $6,448,796. 0.71% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

UAL has been the subject of a number of research reports. Cowen reissued a "buy" rating on shares of United Airlines in a report on Tuesday, July 15th. Sanford C. Bernstein reissued an "outperform" rating on shares of United Airlines in a research report on Tuesday, May 13th. Bank of America boosted their price target on United Airlines from $90.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Barclays reiterated an "overweight" rating and issued a $100.00 price objective (up previously from $94.00) on shares of United Airlines in a research report on Tuesday, July 15th. Finally, Evercore ISI reissued an "outperform" rating and set a $105.00 price objective on shares of United Airlines in a report on Thursday, July 17th. Two 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 company. According to MarketBeat.com, United Airlines currently has a consensus rating of "Buy" and a consensus target price 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.