Fred Alger Management LLC Acquires Shares of 1,605,145 United Airlines Holdings, Inc. (NASDAQ:UAL)

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

Several other institutional investors have also made changes to their positions in the stock. Bank of Jackson Hole Trust bought a new stake in United Airlines during the fourth quarter worth approximately $25,000. Hemington Wealth Management grew its stake in United Airlines by 70.8% in the 4th quarter. Hemington Wealth Management now owns 316 shares of the transportation company's stock valued at $30,000 after buying an additional 131 shares during the last quarter. Whipplewood Advisors LLC bought a new position in United Airlines in the 4th quarter worth $32,000. Roxbury Financial LLC acquired a new position in United Airlines during the 4th quarter worth $32,000. Finally, Bell Investment Advisors Inc boosted its holdings in United Airlines by 60.3% during the fourth quarter. Bell Investment Advisors Inc now owns 359 shares of the transportation company's stock valued at $35,000 after acquiring an additional 135 shares during the period. 69.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

UAL has been the subject of several research analyst reports. Cantor Fitzgerald set a $88.00 price objective on United Airlines in a research report on Tuesday, April 22nd. Susquehanna lowered their price objective on shares of United Airlines from $90.00 to $81.00 and set a "positive" rating on the stock in a research note on Thursday, April 17th. Cowen reissued a "buy" rating on shares of United Airlines in a report on Tuesday, April 22nd. Bank of America cut their price objective on shares of United Airlines from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Finally, Morgan Stanley lifted their target price on United Airlines from $130.00 to $140.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, United Airlines currently has an average rating of "Buy" and a consensus target price of $96.60.

United Airlines Price Performance

Shares of UAL stock traded down $2.14 during trading hours on Friday, hitting $77.27. 9,055,754 shares of the company's stock were exchanged, compared to its average volume of 7,557,424. United Airlines Holdings, Inc. has a 52 week low of $37.02 and a 52 week high of $116.00. The stock has a market cap of $25.24 billion, a price-to-earnings ratio of 8.19, a price-to-earnings-growth ratio of 0.67 and a beta of 1.39. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.81 and a quick ratio of 0.74. The stock's 50-day moving average is $70.94 and its 200-day moving average is $88.12.

United Airlines (NASDAQ:UAL - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The transportation company reported $0.91 earnings per share for the quarter, beating 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 firm had revenue of $13.21 billion during the quarter, compared to analysts' expectations of $13.47 billion. As a group, research analysts forecast that United Airlines Holdings, Inc. will post 12.96 EPS for the current year.

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.