Mirae Asset Global Investments Co. Ltd. Acquires New Shares in United Airlines Holdings Inc $UAL

Key Points

• Mirae Asset Global Investments acquired 81,208 United Airlines shares in the third quarter, worth approximately $9.01 million. Institutional investors collectively own 69.69% of the company.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $156.19; 16 rate the stock Buy, one Hold and one Sell.
• United reported quarterly EPS of $2.54, slightly below the $2.57 consensus, while revenue rose 17.4% year over year to $17.88 billion.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of United Airlines Holdings Inc (NASDAQ:UAL - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 81,208 shares of the transportation company's stock, valued at approximately $9,010,000.

Several other large investors have also recently bought and sold shares of UAL. Apollon Wealth Management LLC raised its holdings in United Airlines by 1.1% in the third quarter. Apollon Wealth Management LLC now owns 10,327 shares of the transportation company's stock worth $1,146,000 after purchasing an additional 117 shares during the period. Pinnacle Associates Ltd. grew its holdings in shares of United Airlines by 2.0% in the 3rd quarter. Pinnacle Associates Ltd. now owns 6,461 shares of the transportation company's stock valued at $717,000 after buying an additional 127 shares during the period. Foster Victor Wealth Advisors LLC grew its holdings in shares of United Airlines by 6.1% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 2,392 shares of the transportation company's stock valued at $265,000 after buying an additional 137 shares during the period. Koshinski Asset Management Inc. grew its holdings in shares of United Airlines by 3.7% in the 1st quarter. Koshinski Asset Management Inc. now owns 3,914 shares of the transportation company's stock valued at $360,000 after buying an additional 138 shares during the period. Finally, Basecamp Wealth Advisors LLC increased its position in shares of United Airlines by 32.1% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 654 shares of the transportation company's stock valued at $60,000 after buying an additional 159 shares in the last quarter. Institutional investors own 69.69% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays reduced their target price on United Airlines from $175.00 to $160.00 and set an "overweight" rating on the stock in a report on Friday, September 11th. Weiss Ratings restated a "hold (c+)" rating on shares of United Airlines in a report on Thursday, October 15th. Evercore reaffirmed an "outperform" rating and set a $160.00 price target on shares of United Airlines in a research report on Wednesday, October 21st. Morgan Stanley lifted their price objective on United Airlines from $185.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. Finally, Wells Fargo & Company decreased their price objective on United Airlines from $160.00 to $155.00 and set an "overweight" rating for the company in a research report on Thursday, October 22nd. Sixteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $156.19.

United Airlines Stock Up 8.0%

NASDAQ:UAL opened at $115.76 on Thursday. The stock has a 50-day simple moving average of $107.41 and a 200 day simple moving average of $108.22. United Airlines Holdings Inc has a 52-week low of $84.64 and a 52-week high of $138.77. The company has a market cap of $37.61 billion, a PE ratio of 10.59, a PEG ratio of 1.37 and a beta of 1.38. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.68 and a current ratio of 0.75.

United Airlines (NASDAQ:UAL - Get Free Report) last released its earnings results on Tuesday, October 20th. The transportation company reported $2.54 EPS for the quarter, missing the consensus estimate of $2.57 by ($0.03). United Airlines had a net margin of 5.46% and a return on equity of 17.59%. The firm had revenue of $17.88 billion during the quarter, compared to the consensus estimate of $17.89 billion. During the same quarter in the previous year, the firm posted $2.78 EPS. The company's revenue was up 17.4% on a year-over-year basis. On average, sell-side analysts expect that United Airlines Holdings Inc will post 7.10 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Brett Hart sold 39,000 shares of the firm's stock in a transaction on Friday, October 30th. The shares were sold at an average price of $102.68, for a total value of $4,004,520.00. Following the completion of the transaction, the president owned 325,122 shares of the company's stock, valued at approximately $33,383,526.96. This trade represents a 10.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew P. Nocella sold 5,000 shares of United Airlines stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $117.00, for a total transaction of $585,000.00. Following the completion of the sale, the executive vice president owned 214,955 shares in the company, valued at $25,149,735. The trade was a 2.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.86% of the company's stock.

About United Airlines

United Airlines Holdings, Inc is the parent company of United Airlines, a major U.S. commercial airline headquartered in Chicago, Illinois. The company provides scheduled passenger air transportation and air cargo services, connecting customers across the United States and to international destinations.

United operates a broad network serving North America, Latin America, Europe, Asia, Africa and Oceania. Its operations are supported by hubs in major U.S. cities, including Chicago, Denver, Houston, Los Angeles, Newark, San Francisco and Washington, DC, as well as an extensive network of regional carriers operating under the United Express brand.

The company offers several travel classes and related services, including premium-cabin seating, onboard amenities, airport lounges and the MileagePlus customer loyalty program.

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