Pinnacle Associates Ltd. Has $702,000 Stake in United Airlines Holdings Inc (NASDAQ:UAL)

Key Points

• Pinnacle Associates Ltd. increased its stake in United Airlines by 84.6% in the 1st quarter, owning 10,170 shares worth $702,000.
• United Airlines recently posted a quarterly earnings per share of $3.87, slightly beating analyst estimates, with a revenue of $15.24 billion.
• A majority of analysts maintain a "buy" rating on United Airlines, with an average target price of $111.43 for the stock.

Pinnacle Associates Ltd. boosted its stake in shares of United Airlines Holdings Inc (NASDAQ:UAL - Free Report) by 84.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,170 shares of the transportation company's stock after buying an additional 4,661 shares during the quarter. Pinnacle Associates Ltd.'s holdings in United Airlines were worth $702,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Capital A Wealth Management LLC bought a new stake in United Airlines in the fourth quarter valued at approximately $31,000. Ameriflex Group Inc. acquired a new position in shares of United Airlines in the 4th quarter worth approximately $58,000. CENTRAL TRUST Co boosted its stake in shares of United Airlines by 57.2% in the 1st quarter. CENTRAL TRUST Co now owns 816 shares of the transportation company's stock valued at $56,000 after purchasing an additional 297 shares during the last quarter. Tucker Asset Management LLC increased its position in shares of United Airlines by 87.4% during the fourth quarter. Tucker Asset Management LLC now owns 821 shares of the transportation company's stock worth $80,000 after buying an additional 383 shares during the period. Finally, Blume Capital Management Inc. increased its position 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 worth $64,000 after buying an additional 400 shares during the period. Institutional investors own 69.69% of the company's stock.

United Airlines Stock Up 1.5%

Shares of NASDAQ UAL opened at $91.11 on Monday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.70 and a quick ratio of 0.65. The company has a 50-day moving average price of $81.31 and a 200-day moving average price of $83.51. The stock has a market capitalization of $29.50 billion, a P/E ratio of 9.13, a P/E/G ratio of 1.18 and a beta of 1.42. United Airlines Holdings Inc has a 1 year low of $37.02 and a 1 year high of $116.00.

United Airlines (NASDAQ:UAL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The transportation company reported $3.87 earnings per share for the quarter, beating the consensus estimate of $3.81 by $0.06. The business had revenue of $15.24 billion for the quarter, compared to analysts' expectations of $15.31 billion. United Airlines had a net margin of 5.71% and a return on equity of 30.09%. The firm's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $4.14 EPS. On average, equities research analysts forecast that United Airlines Holdings Inc will post 12.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on UAL shares. Cowen reaffirmed a "buy" rating on shares of United Airlines in a research report on Tuesday, July 15th. Jefferies Financial Group cut their target price on United Airlines from $154.00 to $80.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Cantor Fitzgerald set a $88.00 target price on United Airlines in a report on Tuesday, April 22nd. Bank of America increased their price target on United Airlines from $90.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Evercore ISI reiterated an "outperform" rating and issued a $105.00 price objective on shares of United Airlines in a research note on Thursday, July 17th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $111.43.

Insider Activity

In related news, EVP Torbjorn J. Enqvist sold 20,000 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $92.22, for a total value of $1,844,400.00. Following the completion of the sale, the executive vice president directly owned 62,358 shares of the company's stock, valued at approximately $5,750,654.76. This represents a 24.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.63% of the stock is currently owned by insiders.

About United Airlines

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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