Patton Fund Management Inc. Acquires New Stake in United Airlines Holdings, Inc. (NASDAQ:UAL)

Patton Fund Management Inc. acquired a new stake in United Airlines Holdings, Inc. (NASDAQ:UAL - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 56,761 shares of the transportation company's stock, valued at approximately $3,919,000.

Several other institutional investors and hedge funds have also recently modified their holdings of UAL. Wahed Invest LLC grew its stake in United Airlines by 5.4% during the 4th quarter. Wahed Invest LLC now owns 2,106 shares of the transportation company's stock worth $204,000 after purchasing an additional 108 shares in the last quarter. Metis Global Partners LLC grew its stake in United Airlines by 2.0% during the 4th quarter. Metis Global Partners LLC now owns 6,501 shares of the transportation company's stock worth $631,000 after purchasing an additional 129 shares in the last quarter. Bell Investment Advisors Inc grew its stake in United Airlines by 60.3% during the 4th quarter. Bell Investment Advisors Inc now owns 359 shares of the transportation company's stock worth $35,000 after purchasing an additional 135 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in United Airlines by 3.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,702 shares of the transportation company's stock worth $359,000 after purchasing an additional 135 shares in the last quarter. Finally, Modera Wealth Management LLC boosted its position in shares of United Airlines by 3.2% during the 4th quarter. Modera Wealth Management LLC now owns 4,442 shares of the transportation company's stock worth $431,000 after acquiring an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 69.69% of the company's stock.

United Airlines Stock Performance

Shares of United Airlines stock opened at $78.52 on Tuesday. The firm's fifty day simple moving average is $74.31 and its 200-day simple moving average is $86.53. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.81 and a quick ratio of 0.74. The stock has a market capitalization of $25.64 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 0.67 and a beta of 1.45. United Airlines Holdings, Inc. has a 12 month low of $37.02 and a 12 month high of $116.00.

United Airlines (NASDAQ:UAL - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The transportation company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.16. United Airlines had a return on equity of 32.26% and a net margin of 5.52%. The company had revenue of $13.21 billion during the quarter, compared to analysts' expectations of $13.47 billion. As a group, equities analysts forecast that United Airlines Holdings, Inc. will post 12.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on UAL shares. Wall Street Zen cut United Airlines from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 7th. Cowen reaffirmed a "buy" rating on shares of United Airlines in a research report on Tuesday, April 22nd. Susquehanna lowered their price objective on United Airlines from $90.00 to $81.00 and set a "positive" rating for the company in a research report on Thursday, April 17th. Evercore ISI lowered their price objective on United Airlines from $145.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of United Airlines in a research report on Tuesday, May 13th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $104.64.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.