Wheels Up Experience Inc. $UP Shares Sold by Kore Advisors LP

Key Points

• Kore Advisors LP reduced its stake in Wheels Up Experience Inc. by 1.6%, owning 23,632,265 shares after selling 394,554 shares; it is now the fund's second-largest position.
• The company's stock has a market capitalization of $2.03 billion, with a 52-week range of $0.74 to $3.38, and reported a quarterly loss of ($0.11) EPS with revenues of $189.64 million.
• Wheels Up Experience has significant institutional ownership, with 98.20% of its stock held by institutional investors and hedge funds.

Kore Advisors LP lowered its stake in shares of Wheels Up Experience Inc. (NYSE:UP - Free Report) by 1.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,632,265 shares of the company's stock after selling 394,554 shares during the period. Wheels Up Experience comprises 20.6% of Kore Advisors LP's investment portfolio, making the stock its 2nd biggest position. Kore Advisors LP owned about 3.38% of Wheels Up Experience worth $23,869,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Northern Trust Corp increased its stake in shares of Wheels Up Experience by 10.7% during the fourth quarter. Northern Trust Corp now owns 840,804 shares of the company's stock worth $1,387,000 after purchasing an additional 81,293 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Wheels Up Experience during the fourth quarter worth about $1,264,000. Nuveen LLC purchased a new stake in shares of Wheels Up Experience during the first quarter worth about $148,000. Barclays PLC boosted its position in Wheels Up Experience by 11.0% during the fourth quarter. Barclays PLC now owns 142,056 shares of the company's stock worth $234,000 after acquiring an additional 14,117 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Wheels Up Experience during the fourth quarter worth about $199,000. Hedge funds and other institutional investors own 98.20% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Wheels Up Experience from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th.

Wheels Up Experience Trading Down 14.1%

UP traded down $0.41 during trading hours on Tuesday, hitting $2.52. 6,213,105 shares of the company's stock were exchanged, compared to its average volume of 1,763,428. Wheels Up Experience Inc. has a 12-month low of $0.74 and a 12-month high of $3.50. The firm has a 50 day moving average of $1.62 and a 200 day moving average of $1.35. The firm has a market cap of $1.76 billion, a P/E ratio of -5.37 and a beta of 2.40.

Wheels Up Experience (NYSE:UP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.11) EPS for the quarter. The business had revenue of $189.64 million for the quarter.

Insider Activity

In other news, CAO Alexander Chatkewitz sold 23,959 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $1.46, for a total value of $34,980.14. Following the completion of the transaction, the chief accounting officer owned 507,462 shares in the company, valued at approximately $740,894.52. This represents a 4.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Donald Lee Moak sold 43,166 shares of the company's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $3.11, for a total transaction of $134,246.26. Following the completion of the transaction, the director owned 180,431 shares of the company's stock, valued at approximately $561,140.41. The trade was a 19.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 178,685 shares of company stock valued at $489,425. 0.15% of the stock is currently owned by company insiders.

Wheels Up Experience Company Profile

Wheels Up Experience Inc provides private aviation services in the United States and internationally. The company offers Wheels Up Membership program that consists of two primary membership categories, such as Individual membership for individual and business fliers; and UP for Business membership consists of small and medium enterprise, and custom enterprise solutions for business fliers that tend to spend at higher levels.