Mackenzie Financial Corp Lowers Stake in United Airlines Holdings Inc (NASDAQ:UAL)

Key Points

• Mackenzie Financial Corp reduced its stake in United Airlines Holdings Inc by 70.2%, selling 174,893 shares and holding 74,419 shares worth approximately $5.1 million by the end of the first quarter.
• United Airlines' stock recently experienced a decline of 4.2%, and despite reporting quarterly earnings of $3.87 per share, it fell short of the expected revenue by approximately $0.07 billion.
• Equities research analysts have a consensus rating of "Buy" for United Airlines, with target prices set as high as $127.00 following upgrades from multiple analysts, reflecting overall positive sentiment in the stock.

Mackenzie Financial Corp lessened its position in shares of United Airlines Holdings Inc (NASDAQ:UAL - Free Report) by 70.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,419 shares of the transportation company's stock after selling 174,893 shares during the period. Mackenzie Financial Corp's holdings in United Airlines were worth $5,139,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC purchased a new stake in United Airlines during the fourth quarter valued at about $31,000. Ameriflex Group Inc. purchased a new stake in shares of United Airlines in the fourth quarter worth about $58,000. CENTRAL TRUST Co boosted its position 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 buying an additional 297 shares during the period. Blume Capital Management Inc. boosted its position in shares of United Airlines by 75.5% in the first quarter. Blume Capital Management Inc. now owns 930 shares of the transportation company's stock worth $64,000 after buying an additional 400 shares during the period. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of United Airlines in the first quarter worth about $69,000. Hedge funds and other institutional investors own 69.69% of the company's stock.

United Airlines Stock Down 4.2%

Shares of United Airlines stock opened at $84.57 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 1.56. The business's 50 day simple moving average is $82.65 and its 200-day simple moving average is $83.23. The stock has a market capitalization of $27.38 billion, a price-to-earnings ratio of 8.47, a PEG ratio of 1.14 and a beta of 1.48. United Airlines Holdings Inc has a twelve month low of $37.02 and a twelve month high of $116.00.

United Airlines (NASDAQ:UAL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The transportation company reported $3.87 earnings per share 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 analysts' expectations of $15.31 billion. United Airlines had a return on equity of 30.09% and a net margin of 5.71%. The business's quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $4.14 EPS. Equities research analysts forecast that United Airlines Holdings Inc will post 12.96 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on UAL shares. Cowen reaffirmed a "buy" rating on shares of United Airlines in a research report on Tuesday, July 15th. Cantor Fitzgerald set a $88.00 target price on United Airlines in a research report on Tuesday, April 22nd. Susquehanna upped their target price on United Airlines from $81.00 to $109.00 and gave the stock a "positive" rating in a research report on Tuesday, July 15th. TD Cowen upped their target price on United Airlines from $101.00 to $127.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Finally, Bank of America boosted their price target on United Airlines from $90.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $111.43.

Insider Transactions at United Airlines

In other news, President Brett J. Hart sold 24,772 shares of the stock in a transaction that occurred 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 sale, the president directly owned 283,638 shares in the company, valued at approximately $25,385,601. This represents a 8.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Torbjorn J. Enqvist sold 20,000 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $92.22, for a total value of $1,844,400.00. Following the completion of the transaction, the executive vice president directly owned 62,358 shares of the company's stock, valued at $5,750,654.76. This trade represents a 24.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,672 shares of company stock worth $4,144,411. 0.71% of the stock is currently owned by company insiders.

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.

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