Pacer Advisors Inc. Purchases 5,021,511 Shares of United Airlines Holdings Inc (NASDAQ:UAL)

Key Points

• Pacer Advisors Inc. increased its stake in United Airlines Holdings Inc. by a remarkable 10,777.6%, acquiring 5,021,511 shares during the first quarter, bringing its total to approximately 5,068,103 shares worth about $349.95 million.
• Analyst ratings for United Airlines are predominantly positive, with a consensus "buy" rating and a target price of $111.43, following recent upgrades from institutions like Bank of America and UBS Group.
• United Airlines reported earnings of $3.87 per share for the most recent quarter, surpassing the consensus estimate, though revenue of $15.24 billion fell slightly short of expectations.

Pacer Advisors Inc. boosted its holdings in shares of United Airlines Holdings Inc (NASDAQ:UAL - Free Report) by 10,777.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,068,103 shares of the transportation company's stock after purchasing an additional 5,021,511 shares during the period. Pacer Advisors Inc. owned about 1.55% of United Airlines worth $349,953,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Capital A Wealth Management LLC bought a new position in shares of United Airlines in the 4th quarter worth about $31,000. Murphy & Mullick Capital Management Corp purchased a new stake in United Airlines in the fourth quarter worth about $36,000. CENTRAL TRUST Co increased its stake in shares of United Airlines by 57.2% during the first quarter. CENTRAL TRUST Co now owns 816 shares of the transportation company's stock valued at $56,000 after purchasing an additional 297 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in shares of United Airlines in the fourth quarter worth $58,000. Finally, Blume Capital Management Inc. increased its holdings in shares of United Airlines by 75.5% during the first quarter. Blume Capital Management Inc. now owns 930 shares of the transportation company's stock valued at $64,000 after acquiring an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 69.69% of the company's stock.

Analyst Upgrades and Downgrades

UAL has been the topic of several recent analyst reports. Bank of America increased their price objective on United Airlines from $90.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Jefferies Financial Group decreased their price objective on shares of United Airlines from $154.00 to $80.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Cantor Fitzgerald set a $88.00 target price on shares of United Airlines in a report on Tuesday, April 22nd. Cowen reissued a "buy" rating on shares of United Airlines in a report on Tuesday, July 15th. Finally, UBS Group reaffirmed a "buy" rating and issued a $114.00 price objective (up previously from $103.00) on shares of United Airlines in a report on Tuesday, July 15th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $111.43.

Insider Buying and Selling

In other news, EVP Torbjorn J. Enqvist sold 20,000 shares of the business's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $92.22, for a total transaction of $1,844,400.00. Following the transaction, the executive vice president owned 62,358 shares of the company's stock, valued at approximately $5,750,654.76. The trade was a 24.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.71% of the company's stock.

United Airlines Price Performance

NASDAQ:UAL opened at $89.73 on Friday. The business's 50-day moving average is $81.05 and its 200 day moving average is $83.86. United Airlines Holdings Inc has a 12 month low of $37.02 and a 12 month high of $116.00. The company has a market capitalization of $29.05 billion, a P/E ratio of 8.99, a P/E/G ratio of 1.17 and a beta of 1.42. The company has a current ratio of 0.70, a quick ratio of 0.65 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 (EPS) for the quarter, topping the consensus estimate of $3.81 by $0.06. United Airlines had a return on equity of 30.09% and a net margin of 5.71%. The business had revenue of $15.24 billion for the quarter, compared to analysts' expectations of $15.31 billion. During the same period in the prior year, the firm earned $4.14 EPS. The company's revenue for the quarter was up 1.4% on a year-over-year basis. On average, equities research analysts forecast that United Airlines Holdings Inc will post 12.96 earnings per share for the current fiscal year.

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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