United Airlines Holdings Inc (NASDAQ:UAL) Shares Sold by Black Cypress Capital Management LLC

Key Points

• Black Cypress Capital Management LLC reduced its position in United Airlines by 37.5%, selling 19,530 shares, leaving them with 32,548 shares, which now account for 2.0% of their portfolio.
• Several institutional investors have also increased their holdings in United Airlines, with Capital A Wealth Management and others acquiring new stakes during the recent quarters.
• Analysts have set new price targets for United Airlines, with TD Cowen increasing their target from $101 to $127, reflecting a generally optimistic outlook on the stock's performance.

Black Cypress Capital Management LLC lowered its position in shares of United Airlines Holdings Inc (NASDAQ:UAL - Free Report) by 37.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,548 shares of the transportation company's stock after selling 19,530 shares during the quarter. United Airlines comprises 2.0% of Black Cypress Capital Management LLC's portfolio, making the stock its 14th largest position. Black Cypress Capital Management LLC's holdings in United Airlines were worth $2,247,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of UAL. Capital A Wealth Management LLC acquired a new stake in shares of United Airlines during the 4th quarter worth approximately $31,000. Hemington Wealth Management raised its position in shares of United Airlines by 50.6% during the 1st quarter. Hemington Wealth Management now owns 476 shares of the transportation company's stock worth $32,000 after purchasing an additional 160 shares during the period. Eastern Bank acquired a new stake in shares of United Airlines during the 1st quarter worth approximately $35,000. Ameriflex Group Inc. acquired a new stake in shares of United Airlines during the 4th quarter worth approximately $58,000. Finally, CENTRAL TRUST Co raised its position in shares of United Airlines by 57.2% during the 1st quarter. CENTRAL TRUST Co now owns 816 shares of the transportation company's stock worth $56,000 after purchasing an additional 297 shares during the period. Institutional investors and hedge funds own 69.69% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on UAL shares. TD Cowen increased their price target on United Airlines from $101.00 to $127.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Barclays reiterated an "overweight" rating and set a $100.00 price target (up from $94.00) on shares of United Airlines in a research report on Tuesday, July 15th. Evercore ISI reiterated an "outperform" rating and set a $105.00 price target on shares of United Airlines in a research report on Thursday, July 17th. Sanford C. Bernstein reissued an "outperform" rating on shares of United Airlines in a report on Tuesday, May 13th. Finally, Susquehanna increased their price objective on United Airlines from $81.00 to $109.00 and gave the stock a "positive" rating 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $111.43.

United Airlines Stock Down 0.7%

Shares of UAL stock opened at $99.14 on Friday. United Airlines Holdings Inc has a 1 year low of $40.96 and a 1 year high of $116.00. The stock has a market cap of $32.09 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 1.29 and a beta of 1.48. The business's fifty day moving average is $84.96 and its 200-day moving average is $82.33. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.65 and a current ratio of 0.70.

United Airlines (NASDAQ:UAL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The transportation company reported $3.87 earnings per share (EPS) for the quarter, beating 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 company had revenue of $15.24 billion for the quarter, compared to analysts' expectations of $15.31 billion. During the same period last year, the firm earned $4.14 EPS. The firm's revenue for the quarter was up 1.4% on a year-over-year basis. Equities analysts expect that United Airlines Holdings Inc will post 12.96 earnings per share for the current fiscal year.

Insider Activity at United Airlines

In other news, EVP Kate Gebo sold 29,953 shares of United Airlines stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $97.59, for a total transaction of $2,923,113.27. Following the transaction, the executive vice president directly owned 45,496 shares in the company, valued at approximately $4,439,954.64. This trade represents a 39.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Barney Harford sold 15,823 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $90.03, for a total value of $1,424,544.69. Following the sale, the director directly owned 89,000 shares of the company's stock, valued at approximately $8,012,670. This represents a 15.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 106,791 shares of company stock worth $9,992,318 in the last quarter. Company insiders own 0.71% of the company's stock.

United Airlines Company 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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