Wheels Up Experience Inc. $UP is Kore Advisors LP's 2nd Largest Position

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 position in shares of Wheels Up Experience Inc. (NYSE:UP - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,632,265 shares of the company's stock after selling 394,554 shares during the period. Wheels Up Experience comprises about 20.6% of Kore Advisors LP's holdings, making the stock its 2nd largest holding. Kore Advisors LP owned approximately 3.38% of Wheels Up Experience worth $23,869,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Byrne Asset Management LLC bought a new position in Wheels Up Experience during the 1st quarter worth approximately $27,000. Hsbc Holdings PLC boosted its position in Wheels Up Experience by 97.3% during the 4th quarter. Hsbc Holdings PLC now owns 21,775 shares of the company's stock valued at $35,000 after buying an additional 10,740 shares during the period. EWA LLC purchased a new position in shares of Wheels Up Experience in the first quarter valued at about $43,000. Wells Fargo & Company MN increased its holdings in Wheels Up Experience by 49.6% during the 4th quarter. Wells Fargo & Company MN now owns 43,147 shares of the company's stock valued at $71,000 after purchasing an additional 14,299 shares during the period. Finally, Deutsche Bank AG raised its position in Wheels Up Experience by 69.0% during the 1st quarter. Deutsche Bank AG now owns 73,593 shares of the company's stock valued at $74,000 after purchasing an additional 30,058 shares during the last quarter. Hedge funds and other institutional investors own 98.20% of the company's stock.

Insiders Place Their Bets

In other news, insider Brian Joseph Kedzior sold 25,000 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $2.94, for a total transaction of $73,500.00. Following the sale, the insider owned 834,914 shares of the company's stock, valued at $2,454,647.16. This trade represents a 2.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David Godsman sold 75,000 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $2.83, for a total transaction of $212,250.00. Following the sale, the insider owned 976,715 shares of the company's stock, valued at approximately $2,764,103.45. This represents a 7.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 178,685 shares of company stock valued at $489,425. 0.15% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Wheels Up Experience Stock Down 10.2%

Shares of NYSE UP traded down $0.34 on Friday, reaching $2.97. 20,243,117 shares of the company's stock traded hands, compared to its average volume of 6,124,099. The business's 50 day simple moving average is $1.59 and its two-hundred day simple moving average is $1.34. Wheels Up Experience Inc. has a 12 month low of $0.74 and a 12 month high of $3.50. The company has a market cap of $2.07 billion, a price-to-earnings ratio of -6.31 and a beta of 2.33.

Wheels Up Experience (NYSE:UP - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.11) earnings per share for the quarter. The firm had revenue of $189.64 million during the quarter.

About Wheels Up Experience

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.