United Airlines Holdings Inc $UAL Stock: Fulcrum Asset Management LLP Increases Holdings

Key Points

• Fulcrum Asset Management increased its United Airlines stake by 3,848.9% in the third quarter, ending the period with 57,417 shares valued at about $6.47 million. Institutional investors and hedge funds collectively owned 69.69% of the stock.
• Analyst sentiment was broadly positive: 16 analysts rated UAL a Buy, with a consensus “Moderate Buy” rating and an average price target of $156.19.
• United reported quarterly earnings of $2.54 per share, slightly below expectations, while revenue rose 17.4% year over year to $17.88 billion. Two company executives also disclosed share sales.

Fulcrum Asset Management LLP increased its stake in shares of United Airlines Holdings Inc (NASDAQ:UAL - Free Report) by 3,848.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,417 shares of the transportation company's stock after acquiring an additional 55,963 shares during the quarter. Fulcrum Asset Management LLP's holdings in United Airlines were worth $6,468,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of UAL. Allspring Global Investments Holdings LLC raised its position in shares of United Airlines by 17.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 503,705 shares of the transportation company's stock valued at $56,304,000 after buying an additional 76,453 shares during the last quarter. University of Texas Texas AM Investment Management Co. grew its position in United Airlines by 59.9% during the third quarter. University of Texas Texas AM Investment Management Co. now owns 16,887 shares of the transportation company's stock worth $1,874,000 after buying an additional 6,326 shares in the last quarter. Brighton Jones LLC grew its position in United Airlines by 14.4% during the third quarter. Brighton Jones LLC now owns 15,934 shares of the transportation company's stock worth $1,768,000 after buying an additional 2,004 shares in the last quarter. Ethic Inc. grew its position in United Airlines by 11.8% during the third quarter. Ethic Inc. now owns 8,507 shares of the transportation company's stock worth $944,000 after buying an additional 898 shares in the last quarter. Finally, 180 Wealth Advisors LLC bought a new position in United Airlines during the third quarter valued at about $235,000. 69.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UAL has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on United Airlines from $156.00 to $203.00 and gave the company an "overweight" rating in a research note on Friday, July 17th. Wall Street Zen downgraded United Airlines from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Susquehanna decreased their price objective on United Airlines from $150.00 to $130.00 and set a "positive" rating on the stock in a report on Thursday, October 22nd. Barclays decreased their price objective on United Airlines from $175.00 to $160.00 and set an "overweight" rating on the stock in a report on Friday, September 11th. Finally, Evercore restated an "outperform" rating and set a $160.00 price objective on shares of United Airlines in a research report on Wednesday, October 21st. Sixteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $156.19.

United Airlines Price Performance

Shares of NASDAQ UAL opened at $112.74 on Monday. The stock has a market cap of $36.63 billion, a PE ratio of 10.31, a PEG ratio of 1.44 and a beta of 1.38. The business has a fifty day moving average of $107.33 and a two-hundred day moving average of $108.23. United Airlines Holdings Inc has a 52-week low of $84.64 and a 52-week high of $138.77. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.68 and a current ratio of 0.75.

United Airlines (NASDAQ:UAL - Get Free Report) last posted its earnings results on Tuesday, October 20th. The transportation company reported $2.54 earnings per share for the quarter, missing the consensus estimate of $2.57 by ($0.03). United Airlines had a return on equity of 17.59% and a net margin of 5.46%. The firm had revenue of $17.88 billion during the quarter, compared to the consensus estimate of $17.89 billion. During the same period in the previous year, the company posted $2.78 EPS. The firm's revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, equities research analysts expect that United Airlines Holdings Inc will post 7.10 earnings per share for the current fiscal year.

Insider Activity

In other United Airlines news, President Brett J. Hart sold 39,000 shares of the business's stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $102.68, for a total value of $4,004,520.00. Following the transaction, the president directly owned 325,122 shares in the company, valued at $33,383,526.96. The trade was a 10.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andrew Nocella sold 5,000 shares of the business's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $117.00, for a total transaction of $585,000.00. Following the completion of the transaction, the executive vice president owned 214,955 shares in the company, valued at approximately $25,149,735. This trade represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.86% of the company's stock.

United Airlines Company Profile

United Airlines Holdings, Inc operates United Airlines, a major U.S. passenger and cargo airline. The company provides domestic and international air transportation, cargo services, and travel-related offerings, including its MileagePlus loyalty program. Regional service is also offered under the United Express brand through partner airlines.

United serves destinations across the Americas, Europe, Asia, Africa, and Oceania. Its network is organized around hubs including Chicago, Denver, Houston, Los Angeles, Newark, San Francisco, and Washington, DC

The airline traces its history to Varney Air Lines, founded in 1926, and has developed through mergers and acquisitions over the decades.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.