United Airlines Holdings Inc $UAL Shares Sold by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC has significantly reduced its stake in United Airlines by 62%, now holding approximately 0.19% of the company, valued at around $42.1 million.
• Two executives at United Airlines, Torbjorn J. Enqvist and Kate Gebo, have recently sold shares worth nearly $2.5 million combined, reflecting a decline in their respective positions.
• Analysts predict that United Airlines will post a 12.96 EPS for the current fiscal year, with a mix of buy and hold ratings contributing to an average target price of $111.43.

Fred Alger Management LLC cut its holdings in shares of United Airlines Holdings Inc (NASDAQ:UAL - Free Report) by 62.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 609,348 shares of the transportation company's stock after selling 995,797 shares during the period. Fred Alger Management LLC owned about 0.19% of United Airlines worth $42,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wedbush Securities Inc. lifted its position in United Airlines by 3.3% during the first quarter. Wedbush Securities Inc. now owns 4,651 shares of the transportation company's stock valued at $321,000 after purchasing an additional 147 shares during the period. Forum Financial Management LP raised its position in shares of United Airlines by 2.7% in the fourth quarter. Forum Financial Management LP now owns 5,723 shares of the transportation company's stock worth $556,000 after acquiring an additional 148 shares during the period. Principal Securities Inc. raised its position in shares of United Airlines by 2.0% in the first quarter. Principal Securities Inc. now owns 7,758 shares of the transportation company's stock worth $536,000 after acquiring an additional 149 shares during the period. Creative Financial Designs Inc. ADV raised its position in shares of United Airlines by 15.6% in the first quarter. Creative Financial Designs Inc. ADV now owns 1,110 shares of the transportation company's stock worth $77,000 after acquiring an additional 150 shares during the period. Finally, Kendall Capital Management raised its position in shares of United Airlines by 2.2% in the first quarter. Kendall Capital Management now owns 6,900 shares of the transportation company's stock worth $476,000 after acquiring an additional 150 shares during the period. 69.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at United Airlines

In related news, 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 completion of the sale, the executive vice president 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kate Gebo sold 6,343 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $97.81, for a total transaction of $620,408.83. Following the sale, the executive vice president directly owned 69,106 shares of the company's stock, valued at approximately $6,759,257.86. This represents a 8.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 106,791 shares of company stock worth $9,992,318 in the last 90 days. 0.63% of the stock is owned by insiders.

United Airlines Stock Up 0.5%

Shares of NASDAQ UAL opened at $106.59 on Monday. United Airlines Holdings Inc has a 12-month low of $44.85 and a 12-month high of $116.00. The stock has a market cap of $34.51 billion, a PE ratio of 10.68, a P/E/G ratio of 1.38 and a beta of 1.47. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 1.56. The company has a 50-day moving average of $93.14 and a 200 day moving average of $81.73.

United Airlines (NASDAQ:UAL - Get Free Report) last announced its quarterly earnings data 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 net margin of 5.71% and a return on equity of 30.09%. The company had revenue of $15.24 billion during the quarter, compared to analysts' expectations of $15.31 billion. During the same quarter in the prior year, the company earned $4.14 EPS. United Airlines's revenue was up 1.4% compared to the same quarter last year. United Airlines has set its FY 2025 guidance at 9.000-11.000 EPS. As a group, sell-side analysts predict that United Airlines Holdings Inc will post 12.96 EPS for the current fiscal year.

Analysts Set New Price Targets

UAL has been the subject of a number of analyst reports. Bank of America upped their price objective on shares of United Airlines from $90.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Sanford C. Bernstein reiterated an "outperform" rating on shares of United Airlines in a research report on Tuesday, May 13th. Wall Street Zen downgraded shares of United Airlines from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Cowen restated a "buy" rating on shares of United Airlines in a research report on Tuesday, July 15th. Finally, Barclays restated an "overweight" rating and set a $100.00 price target (up previously from $94.00) on shares of United Airlines in a research report on Tuesday, July 15th. Two equities research 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. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $111.43.

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.

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