Raymond James Financial Inc. Trims Stock Holdings in United Airlines Holdings Inc $UAL

Key Points

• Raymond James Financial Inc. reduced its stake in United Airlines Holdings Inc. by 11.5% in the first quarter, selling 40,670 shares and holding approximately 311,798 shares valued at $21,530,000.
• Several other hedge funds significantly increased their positions in United Airlines, with Pacer Advisors Inc. boosting its holdings by over 10,777% during the same quarter.
• United Airlines reported an EPS of $3.87 for the last quarter, exceeding estimates, but projected its earnings guidance for FY 2025 between $9.00-$11.00.

Raymond James Financial Inc. reduced its stake in shares of United Airlines Holdings Inc (NASDAQ:UAL - Free Report) by 11.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 311,798 shares of the transportation company's stock after selling 40,670 shares during the period. Raymond James Financial Inc. owned approximately 0.10% of United Airlines worth $21,530,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in UAL. Pacer Advisors Inc. lifted its holdings in shares of United Airlines by 10,777.6% during the 1st quarter. Pacer Advisors Inc. now owns 5,068,103 shares of the transportation company's stock worth $349,953,000 after acquiring an additional 5,021,511 shares during the last quarter. Fred Alger Management LLC bought a new stake in shares of United Airlines during the 4th quarter worth $155,860,000. Assenagon Asset Management S.A. lifted its holdings in shares of United Airlines by 1,264.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,604,783 shares of the transportation company's stock worth $110,810,000 after acquiring an additional 1,487,167 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of United Airlines by 1,575.1% during the 1st quarter. Allianz Asset Management GmbH now owns 1,277,374 shares of the transportation company's stock worth $88,203,000 after acquiring an additional 1,201,118 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of United Airlines by 783.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,152,520 shares of the transportation company's stock worth $79,582,000 after acquiring an additional 1,022,012 shares during the last quarter. 69.69% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Michelle Freyre sold 900 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $92.13, for a total transaction of $82,917.00. Following the completion of the transaction, the director directly owned 829 shares of the company's stock, valued at approximately $76,375.77. This represents a 52.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Torbjorn J. Enqvist sold 20,000 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $92.22, for a total transaction of $1,844,400.00. Following the transaction, the executive vice president directly owned 62,358 shares of the company's stock, valued at approximately $5,750,654.76. This trade represents a 24.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,791 shares of company stock valued at $9,992,318. 0.63% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on UAL shares. UBS Group lifted their price objective on shares of United Airlines from $103.00 to $114.00 and gave the stock a "buy" rating in a report on Tuesday, July 15th. Barclays reaffirmed an "overweight" rating and set a $100.00 price objective (up from $94.00) on shares of United Airlines in a report on Tuesday, July 15th. Cowen reissued a "buy" rating on shares of United Airlines in a research note on Tuesday, July 15th. Wall Street Zen downgraded shares of United Airlines from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of United Airlines in a research note on Tuesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $111.43.

United Airlines Stock Performance

Shares of NASDAQ:UAL opened at $104.13 on Wednesday. The company has a market cap of $33.71 billion, a price-to-earnings ratio of 10.43, a price-to-earnings-growth ratio of 1.32 and a beta of 1.48. The company has a 50-day moving average price of $88.53 and a 200-day moving average price of $81.80. 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 Holdings Inc has a 12 month low of $40.96 and a 12 month high of $116.00.

United Airlines (NASDAQ:UAL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The transportation company reported $3.87 EPS for the quarter, beating the consensus estimate of $3.81 by $0.06. The firm had revenue of $15.24 billion during the quarter, compared to the consensus estimate of $15.31 billion. United Airlines had a net margin of 5.71% and a return on equity of 30.09%. The company's quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.14 earnings per share. United Airlines has set its FY 2025 guidance at 9.000-11.000 EPS. As a group, equities analysts anticipate that United Airlines Holdings Inc will post 12.96 EPS for the current year.

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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