Korea Investment CORP Acquires Shares of 210,356 United Airlines Holdings Inc $UAL

Key Points

• Korea Investment CORP acquired 210,356 shares of United Airlines Holdings Inc, valued at approximately $14.5 million, marking a new investment during the 1st quarter.
• Several hedge funds, like Bank of New York Mellon and GAMMA Investing LLC, have increased their stakes in United Airlines, reflecting growing institutional interest with hedge funds holding 69.69% of the company's stock.
• United Airlines recently reported a quarterly earnings per share (EPS) of $3.87, surpassing analysts' expectations, with a revenue of $15.24 billion.

Korea Investment CORP purchased a new position in 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 (SEC). The firm purchased 210,356 shares of the transportation company's stock, valued at approximately $14,525,000. Korea Investment CORP owned about 0.06% of United Airlines at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in UAL. Capital A Wealth Management LLC purchased a new position in shares of United Airlines in the fourth quarter worth $31,000. Hemington Wealth Management increased its stake 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 worth $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. CENTRAL TRUST Co increased its stake in shares of United Airlines by 57.2% in 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. Finally, Ameriflex Group Inc. acquired a new stake in shares of United Airlines in the fourth quarter worth $58,000. Hedge funds and other institutional investors own 69.69% of the company's stock.

United Airlines Stock Performance

UAL stock traded up $5.80 during midday trading on Friday, hitting $102.98. 6,037,970 shares of the stock traded hands, compared to its average volume of 5,158,545. The firm has a market cap of $33.34 billion, a P/E ratio of 10.32, a PEG ratio of 1.33 and a beta of 1.48. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.70 and a quick ratio of 0.65. The stock's fifty day simple moving average is $87.45 and its 200-day simple moving average is $81.89. United Airlines Holdings Inc has a 1-year low of $40.96 and a 1-year high of $116.00.

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, beating the consensus estimate of $3.81 by $0.06. The company had revenue of $15.24 billion for the quarter, compared to analyst estimates of $15.31 billion. United Airlines had a net margin of 5.71% and a return on equity of 30.09%. The firm's revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the business earned $4.14 earnings per share. United Airlines has set its FY 2025 guidance at 9.000-11.000 EPS. On average, analysts expect that United Airlines Holdings Inc will post 12.96 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Cowen reiterated a "buy" rating on shares of United Airlines in a research note on Tuesday, July 15th. Evercore ISI reiterated an "outperform" rating and issued a $105.00 price objective on shares of United Airlines in a research note on Thursday, July 17th. Wall Street Zen lowered shares of United Airlines from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. TD Cowen increased their price objective on shares of United Airlines from $101.00 to $127.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Finally, 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 note on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $111.43.

Insider Activity at United Airlines

In other United Airlines news, Director Barney Harford sold 9,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $97.76, for a total transaction of $879,840.00. Following the transaction, the director directly owned 80,000 shares of the company's stock, valued at $7,820,800. This trade represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Torbjorn J. Enqvist sold 20,000 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $92.22, for a total transaction of $1,844,400.00. Following the transaction, the executive vice president directly owned 62,358 shares in the company, valued at approximately $5,750,654.76. The trade was a 24.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 106,791 shares of company stock valued at $9,992,318 in the last quarter. 0.63% of the stock is currently owned by insiders.

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.