Insider Buying: flyExclusive (NYSE:FLYX) Director Buys 50,000 Shares of Stock

Key Points

• Director Peter Hopper purchased 50,000 shares of flyExclusive on March 6 at an average price of $2.54 per share, a $127,000 transaction that represents an increase from a prior zero position.
• FLYX recently traded around $2.18 (down $0.04), with a 50-day/200-day moving average of $2.69/$3.52, a 1-year range of $1.90–$8.88, a market cap of ~$205.2M and a negative P/E of -2.13.
• Institutional investors own about 12.99% of the stock and analysts have a consensus "Strong Buy" rating with an average price target of $7.00.

flyExclusive, Inc. (NYSE:FLYX - Get Free Report) Director Peter Hopper acquired 50,000 shares of the company's stock in a transaction dated Friday, March 6th. The shares were bought at an average price of $2.54 per share, for a total transaction of $127,000.00. Following the acquisition, the director owned 50,000 shares in the company, valued at approximately $127,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

flyExclusive Stock Performance

Shares of FLYX traded down $0.04 during trading hours on Tuesday, reaching $2.18. 201,432 shares of the company traded hands, compared to its average volume of 2,890,818. The stock's fifty day moving average is $2.69 and its 200 day moving average is $3.52. flyExclusive, Inc. has a 1-year low of $1.90 and a 1-year high of $8.88. The stock has a market cap of $205.22 million, a P/E ratio of -2.13 and a beta of 0.25.

Institutional Trading of flyExclusive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kera Capital Partners Inc. acquired a new position in flyExclusive in the third quarter worth about $173,000. Citadel Advisors LLC acquired a new stake in flyExclusive during the third quarter valued at approximately $68,000. MBL Wealth LLC grew its stake in shares of flyExclusive by 46.9% in the 3rd quarter. MBL Wealth LLC now owns 28,200 shares of the company's stock valued at $139,000 after purchasing an additional 9,000 shares during the period. New York State Common Retirement Fund bought a new stake in shares of flyExclusive in the 3rd quarter valued at approximately $32,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of flyExclusive by 56,636.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,241 shares of the company's stock worth $31,000 after buying an additional 6,230 shares in the last quarter. Institutional investors own 12.99% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on FLYX shares. UBS Group set a $7.00 price objective on flyExclusive in a research report on Monday, January 26th. Lucid Cap Mkts upgraded flyExclusive to a "strong-buy" rating in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Strong Buy" and an average price target of $7.00.

About flyExclusive

flyExclusive NYSE: FLYX is a U.S.-based private aviation company that provides on-demand charter, jet card membership, and aircraft management services. The firm operates a proprietary fleet of large-cabin and super-midsize jets, complemented by third-party managed aircraft under its Part 135 operator certificate. flyExclusive offers customized flight solutions for individual, corporate and group travel, with a focus on safety, scheduling flexibility and personalized service.

The company was launched as a standalone brand in 2018 and completed its business combination to become a publicly traded company in November 2021.

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