Insider Buying: flyExclusive (NYSE:FLYX) Director Purchases $58,750.00 in Stock

Key Points

• Director Peter Hopper purchased 25,000 shares on March 13 at an average price of $2.35 for a $58,750 transaction, increasing his holdings to 125,000 shares (a 25% boost).
• Analysts have a consensus "Strong Buy" rating on flyExclusive with a consensus price target of $7.00, including recent upgrades from Lucid Cap Mkts and UBS.
• The stock recently traded at $2.18 (down $0.04), with a market capitalization of about $205.2M, a negative P/E of -2.13, and a 52-week range of $1.90 to $8.88.

flyExclusive, Inc. (NYSE:FLYX - Get Free Report) Director Peter Hopper bought 25,000 shares of the stock in a transaction dated Friday, March 13th. The shares were purchased at an average cost of $2.35 per share, for a total transaction of $58,750.00. Following the completion of the purchase, the director owned 125,000 shares in the company, valued at approximately $293,750. This represents a 25.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

flyExclusive Stock Performance

Shares of flyExclusive stock traded down $0.04 on Tuesday, hitting $2.18. The company's stock had a trading volume of 201,432 shares, compared to its average volume of 2,890,818. The company has a market capitalization of $205.22 million, a price-to-earnings ratio of -2.13 and a beta of 0.25. flyExclusive, Inc. has a 1 year low of $1.90 and a 1 year high of $8.88. The firm has a fifty day moving average price of $2.69 and a 200-day moving average price of $3.52.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Lucid Cap Mkts raised flyExclusive to a "strong-buy" rating in a research note on Monday, January 26th. UBS Group set a $7.00 price objective on shares of flyExclusive in a research report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company has a consensus rating of "Strong Buy" and a consensus price target of $7.00.

Institutional Trading of flyExclusive

Several large investors have recently made changes to their positions in FLYX. JPMorgan Chase & Co. raised its stake in flyExclusive by 56,636.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,241 shares of the company's stock valued at $31,000 after purchasing an additional 6,230 shares during the last quarter. New York State Common Retirement Fund purchased a new stake in shares of flyExclusive during the third quarter worth $32,000. Citadel Advisors LLC acquired a new stake in shares of flyExclusive in the third quarter valued at about $68,000. MBL Wealth LLC raised its position in shares of flyExclusive by 46.9% in the third quarter. MBL Wealth LLC now owns 28,200 shares of the company's stock valued at $139,000 after buying an additional 9,000 shares during the last quarter. Finally, Kera Capital Partners Inc. purchased a new position in shares of flyExclusive in the third quarter worth about $173,000. 12.99% of the stock is currently owned by hedge funds and other institutional investors.

flyExclusive Company Profile

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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