OMERS ADMINISTRATION Corp Sells 191,100 Shares of Wheels Up Experience Inc. $UP

Key Points

• OMERS Administration Corp reduced its Wheels Up Experience stake by 47.7% in the first quarter, selling 191,100 shares and retaining 209,900 shares worth approximately $108,000.
• Wheels Up shares opened at $5.75, well below their 50-day and 200-day moving averages of $7.55 and $9.80, respectively. The company reported a quarterly loss of $2.29 per share on $168.92 million in revenue.
• Analyst sentiment remains negative: the stock has an average “Sell” rating, while insiders recently reported both purchases and sales; institutional investors own 98.2% of the company.

OMERS ADMINISTRATION Corp cut its stake in Wheels Up Experience Inc. (NYSE:UP - Free Report) by 47.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 209,900 shares of the company's stock after selling 191,100 shares during the quarter. OMERS ADMINISTRATION Corp owned about 0.58% of Wheels Up Experience worth $108,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Kestra Private Wealth Services LLC bought a new stake in Wheels Up Experience during the third quarter valued at about $25,000. Millennium Management LLC raised its holdings in Wheels Up Experience by 1.1% in the fourth quarter. Millennium Management LLC now owns 1,309,584 shares of the company's stock worth $859,000 after purchasing an additional 14,332 shares in the last quarter. Rooted Wealth Advisors Inc. lifted its position in shares of Wheels Up Experience by 80.2% during the fourth quarter. Rooted Wealth Advisors Inc. now owns 45,041 shares of the company's stock valued at $30,000 after buying an additional 20,041 shares during the last quarter. Creative Planning purchased a new stake in shares of Wheels Up Experience during the second quarter valued at about $25,000. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of Wheels Up Experience during the second quarter valued at about $25,000. 98.20% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO George N. Mattson bought 14,983 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average cost of $5.30 per share, for a total transaction of $79,409.90. Following the purchase, the chief executive officer directly owned 14,983 shares of the company's stock, valued at approximately $79,409.90. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Ck Wheels Llc sold 27,524 shares of the business's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $8.05, for a total transaction of $221,568.20. Following the sale, the insider directly owned 12,870,354 shares in the company, valued at approximately $103,606,349.70. This represents a 0.21% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have bought 27,791 shares of company stock worth $146,206 and have sold 43,027 shares worth $335,159. Corporate insiders own 0.33% of the company's stock.

Wheels Up Experience Price Performance

Shares of UP stock opened at $5.75 on Friday. The stock's fifty day moving average price is $7.55 and its 200 day moving average price is $9.80. Wheels Up Experience Inc. has a 1-year low of $4.69 and a 1-year high of $70.00. The company has a market cap of $208.50 million, a price-to-earnings ratio of -0.73 and a beta of 2.04.

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

Wall Street Analyst Weigh In

UP has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Wheels Up Experience in a research report on Monday, June 1st. Wall Street Zen cut shares of Wheels Up Experience from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of "Sell".

Wheels Up Experience Company Profile

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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