Legacy Capital Group California Inc. Purchases New Stake in United Airlines Holdings Inc (NASDAQ:UAL)

Key Points

• Legacy Capital Group California Inc. invested approximately $202,000 in United Airlines Holdings Inc by purchasing 2,925 shares in the first quarter.
• Several institutional investors, including Bank of New York Mellon Corp and GAMMA Investing LLC, have significantly increased their holdings in United Airlines, now accounting for 69.69% of the stock owned by institutional investors.
• United Airlines reported a quarterly EPS of $3.87, exceeding expectations, although revenue fell short, leading to mixed sentiments among analysts with a consensus "Buy" rating.

Legacy Capital Group California Inc. acquired a new position in shares of United Airlines Holdings Inc (NASDAQ:UAL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,925 shares of the transportation company's stock, valued at approximately $202,000.

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

Insider Activity

In other news, President Brett J. Hart sold 24,772 shares of United Airlines 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 approximately $25,385,601. This trade represents a 8.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michelle Freyre sold 900 shares of United Airlines stock in a transaction 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 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 position. The disclosure for this sale can be found here. Insiders have sold 45,672 shares of company stock valued at $4,144,411 over the last ninety days. 0.71% of the stock is currently owned by company insiders.

United Airlines Stock Performance

Shares of UAL traded up $0.76 during trading hours on Monday, hitting $90.05. The company had a trading volume of 980,322 shares, compared to its average volume of 8,095,685. The firm has a market cap of $29.15 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 1.16 and a beta of 1.48. The business has a fifty day moving average of $83.71 and a 200-day moving average of $82.25. United Airlines Holdings Inc has a 12 month low of $40.13 and a 12 month high of $116.00. 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 (NASDAQ:UAL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The transportation company reported $3.87 earnings per share 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 company's revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $4.14 earnings per share. Equities analysts anticipate that United Airlines Holdings Inc will post 12.96 EPS for the current fiscal year.

Analyst Ratings Changes

UAL has been the subject of several recent analyst reports. TD Cowen upped their target price on shares of United Airlines from $101.00 to $127.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Evercore ISI reaffirmed an "outperform" rating and set a $105.00 price target on shares of United Airlines in a research note on Thursday, July 17th. Cowen restated a "buy" rating on shares of United Airlines in a report on Tuesday, July 15th. Wall Street Zen cut shares of United Airlines from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Finally, Bank of America increased their target price on shares of United Airlines from $90.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $111.43.

United Airlines Company 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.