6,784 Shares in United Airlines Holdings Inc (NASDAQ:UAL) Acquired by Strategy Asset Managers LLC

Key Points

• Strategy Asset Managers LLC acquired a new stake in United Airlines Holdings Inc during the first quarter, purchasing 6,784 shares valued at approximately $468,000.
• Several other institutional investors have significantly increased their holdings, with Pacer Advisors Inc. boosting its position by 10,777.6%, now owning over 5 million shares worth nearly $350 million.
• United Airlines recently reported earnings, posting an EPS of $3.87, slightly exceeding analyst estimates, although revenue fell short of expectations at $15.24 billion.

Strategy Asset Managers LLC purchased a new position in United Airlines Holdings Inc (NASDAQ:UAL - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,784 shares of the transportation company's stock, valued at approximately $468,000.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in United Airlines by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 1,520,643 shares of the transportation company's stock worth $105,000,000 after purchasing an additional 16,477 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in United Airlines in the first quarter worth approximately $15,089,000. Generate Investment Management Ltd bought a new position in United Airlines in the first quarter worth approximately $10,773,000. Exchange Traded Concepts LLC raised its stake in United Airlines by 132.9% in the first quarter. Exchange Traded Concepts LLC now owns 7,503 shares of the transportation company's stock worth $518,000 after buying an additional 4,281 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in United Airlines by 7,225.9% in the first quarter. GAMMA Investing LLC now owns 360,579 shares of the transportation company's stock worth $24,898,000 after purchasing an additional 355,657 shares during the last quarter. Hedge funds and other institutional investors own 69.69% of the company's stock.

United Airlines Stock Up 0.9%

UAL stock traded up $0.81 during midday trading on Monday, hitting $90.10. The company's stock had a trading volume of 1,125,342 shares, compared to its average volume of 8,096,497. United Airlines Holdings Inc has a 52-week low of $40.13 and a 52-week high of $116.00. The firm has a 50-day simple moving average of $83.71 and a 200-day simple moving average of $82.25. The firm has a market capitalization of $29.17 billion, a P/E ratio of 9.03, a PEG ratio of 1.16 and a beta of 1.48. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 1.56.

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

Analysts Set New Price Targets

Several equities analysts have issued reports on UAL shares. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of United Airlines in a report on Tuesday, May 13th. TD Cowen boosted their target price on shares of United Airlines from $101.00 to $127.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Susquehanna upped their price objective on shares of United Airlines from $81.00 to $109.00 and gave the stock a "positive" rating in a research report on Tuesday, July 15th. UBS Group upped their price objective on shares of United Airlines from $103.00 to $114.00 and gave the stock a "buy" rating in a research report on Tuesday, July 15th. Finally, Evercore ISI restated an "outperform" rating and set a $105.00 price target on shares of United Airlines in a research report on Thursday, July 17th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, United Airlines currently has an average rating of "Buy" and an average target price of $111.43.

Insider Activity

In other news, EVP Torbjorn J. Enqvist sold 20,000 shares of United Airlines stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $92.22, for a total value of $1,844,400.00. Following the sale, the executive vice president owned 62,358 shares of the company's stock, valued at $5,750,654.76. The trade was a 24.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Brett J. Hart sold 24,772 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $89.50, for a total transaction of $2,217,094.00. Following the sale, the president directly owned 283,638 shares in the company, valued at approximately $25,385,601. This represents a 8.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,672 shares of company stock valued at $4,144,411 over the last quarter. Corporate insiders own 0.71% of the company's stock.

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.