Masters Capital Management LLC Sells 1,000,000 Shares of Wheels Up Experience Inc. $UP

Key Points

• Masters Capital Management cut its Wheels Up Experience stake by 20%, selling 1 million shares and retaining 4 million shares, or approximately 11.04% of the company.
• Institutional investors own 98.2% of Wheels Up, with Vanguard increasing its position and Inspire Investing more than tripling its holdings. Insider activity was mixed, including a CEO purchase and a sale by major shareholder CK Wheels LLC.
• Wheels Up shares opened at $6.03, near the lower end of their 52-week range, after reporting a quarterly loss of $2.29 per share on $168.92 million in revenue. Analysts have a consensus “Sell” rating.

Masters Capital Management LLC cut its stake in Wheels Up Experience Inc. (NYSE:UP - Free Report) by 20.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,000,000 shares of the company's stock after selling 1,000,000 shares during the quarter. Masters Capital Management LLC owned approximately 11.04% of Wheels Up Experience worth $2,066,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jane Street Group LLC bought a new position in Wheels Up Experience in the 2nd quarter valued at about $795,000. J. Derek Lewis & Associates Inc. acquired a new stake in Wheels Up Experience during the 4th quarter worth approximately $356,000. Inspire Investing LLC lifted its holdings in Wheels Up Experience by 210.6% during the 4th quarter. Inspire Investing LLC now owns 780,918 shares of the company's stock worth $513,000 after purchasing an additional 529,534 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Wheels Up Experience in the 4th quarter valued at $263,000. Finally, Vanguard Group Inc. increased its position in Wheels Up Experience by 9.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,614,924 shares of the company's stock worth $6,651,000 after buying an additional 323,945 shares during the period. Institutional investors own 98.20% of the company's stock.

Insider Buying and Selling at Wheels Up Experience

In other Wheels Up Experience news, CEO George N. Mattson bought 10,029 shares of Wheels Up Experience stock in a transaction on Friday, May 15th. The shares were purchased at an average price of $5.13 per share, with a total value of $51,448.77. Following the acquisition, the chief executive officer owned 26,316 shares in the company, valued at $135,001.08. This trade represents a 61.58% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ck Wheels Llc sold 27,524 shares of the company's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $8.05, for a total value of $221,568.20. Following the sale, the insider owned 12,870,354 shares of the company's stock, valued at approximately $103,606,349.70. This represents a 0.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have acquired 27,791 shares of company stock valued at $146,206 and have sold 43,027 shares valued at $335,159. 0.33% of the stock is owned by corporate insiders.

Wheels Up Experience Stock Down 0.6%

UP stock opened at $6.03 on Monday. Wheels Up Experience Inc. has a 52 week low of $4.69 and a 52 week high of $70.00. The business has a 50-day simple moving average of $7.68 and a 200 day simple moving average of $10.04. The company has a market cap of $218.29 million, a PE ratio of -0.76 and a beta of 2.04.

Wheels Up Experience (NYSE:UP - Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported ($2.29) EPS for the quarter. The business had revenue of $168.92 million for the quarter.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a "sell (e+)" rating on shares of Wheels Up Experience in a research report on Monday, June 1st. Wall Street Zen lowered shares of Wheels Up Experience from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of "Sell".

About Wheels Up Experience

Wheels Up Experience Inc is a membership-driven private aviation company that provides on-demand charter flights and flight card services to corporate clients and high-net-worth individuals. The company operates a combination of owned and managed aircraft, including turboprops and light to midsize jets, and supplements its fleet through a network of partner operators. Its digital platform allows members to book flights, manage itineraries and access empty-leg opportunities with real-time pricing and availability.

Through tiered membership programs, Wheels Up offers flexible access to private air travel without the long-term commitments typically associated with fractional ownership.

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