Fred Alger Management LLC Invests $155.86 Million in United Airlines Holdings, Inc. (NASDAQ:UAL)

Fred Alger Management LLC purchased a new stake in shares of United Airlines Holdings, Inc. (NASDAQ:UAL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,605,145 shares of the transportation company's stock, valued at approximately $155,860,000. United Airlines makes up about 0.7% of Fred Alger Management LLC's investment portfolio, making the stock its 23rd biggest position. Fred Alger Management LLC owned about 0.49% of United Airlines as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Proficio Capital Partners LLC acquired a new stake in shares of United Airlines during the 4th quarter valued at about $137,000. Longbow Finance SA acquired a new stake in shares of United Airlines during the 4th quarter valued at about $9,359,000. KBC Group NV acquired a new stake in shares of United Airlines during the 4th quarter valued at about $485,000. Bleakley Financial Group LLC boosted its position in shares of United Airlines by 293.7% during the 4th quarter. Bleakley Financial Group LLC now owns 23,458 shares of the transportation company's stock valued at $2,278,000 after acquiring an additional 17,499 shares in the last quarter. Finally, Islay Capital Management LLC acquired a new stake in shares of United Airlines during the 4th quarter valued at about $790,000. Institutional investors own 69.69% of the company's stock.

United Airlines Trading Up 5.5%

NASDAQ:UAL traded up $4.33 on Tuesday, reaching $82.95. The company's stock had a trading volume of 6,358,641 shares, compared to its average volume of 7,571,708. United Airlines Holdings, Inc. has a 1-year low of $37.02 and a 1-year high of $116.00. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.74 and a current ratio of 0.81. The firm has a market cap of $27.09 billion, a PE ratio of 8.80, a PEG ratio of 0.67 and a beta of 1.39. The business's 50-day moving average price is $70.69 and its two-hundred day moving average price is $88.24.

United Airlines (NASDAQ:UAL - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The transportation company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.16. United Airlines had a net margin of 5.52% and a return on equity of 32.26%. The company had revenue of $13.21 billion during the quarter, compared to the consensus estimate of $13.47 billion. Equities research analysts anticipate that United Airlines Holdings, Inc. will post 12.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

UAL has been the topic of a number of recent analyst reports. Jefferies Financial Group reduced their price target on shares of United Airlines from $154.00 to $80.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Cantor Fitzgerald set a $88.00 price target on shares of United Airlines in a research report on Tuesday, April 22nd. UBS Group boosted their price target on shares of United Airlines from $59.00 to $67.00 and gave the company a "neutral" rating in a research report on Thursday, April 17th. Raymond James lowered shares of United Airlines from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Finally, TD Cowen boosted their price target on shares of United Airlines from $73.00 to $88.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $96.60.

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.