United Airlines (NASDAQ:UAL) CEO Sells 90,367 Shares of Company Stock

Key Points

• CEO J. Kirby sold 90,367 United Airlines shares for about $10.83 million at an average price of $119.79, reducing his direct ownership by 10.74% to 750,755 shares.
• United reported quarterly EPS of $2.54, slightly below the $2.57 analyst consensus, while revenue of $17.88 billion also narrowly missed estimates; revenue rose 17.4% year over year.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $156.19.

United Airlines Holdings Inc (NASDAQ:UAL - Get Free Report) CEO J. Kirby sold 90,367 shares of the firm's stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $119.79, for a total value of $10,825,062.93. Following the completion of the sale, the chief executive officer directly owned 750,755 shares in the company, valued at approximately $89,932,941.45. This represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

United Airlines Stock Performance

NASDAQ UAL traded up $0.18 during trading on Tuesday, hitting $120.56. The company's stock had a trading volume of 5,356,335 shares, compared to its average volume of 5,605,979. United Airlines Holdings Inc has a 52 week low of $84.64 and a 52 week high of $138.77. The firm has a market cap of $39.17 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 1.55 and a beta of 1.38. The firm has a 50 day moving average price of $107.77 and a 200 day moving average price of $108.33. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 1.38.

United Airlines (NASDAQ:UAL - Get Free Report) last announced its earnings results on Tuesday, October 20th. The transportation company reported $2.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.57 by ($0.03). The firm had revenue of $17.88 billion for the quarter, compared to analyst estimates of $17.89 billion. United Airlines had a return on equity of 17.59% and a net margin of 5.46%. The company's revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.78 EPS. Equities research analysts forecast that United Airlines Holdings Inc will post 7.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on UAL shares. Morgan Stanley raised their target price on United Airlines from $185.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. increased their price objective on shares of United Airlines from $156.00 to $203.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Susquehanna decreased their price objective on shares of United Airlines from $150.00 to $130.00 and set a "positive" rating on the stock in a report on Thursday, October 22nd. Zacks Research cut shares of United Airlines from a "hold" rating to a "strong sell" rating in a research report on Monday, September 28th. Finally, Evercore reaffirmed an "outperform" rating and issued a $160.00 target price on shares of United Airlines in a research note on Wednesday, October 21st. Sixteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $156.19.

Institutional Investors Weigh In On United Airlines

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada increased its stake in United Airlines by 11.2% in the 1st quarter. Royal Bank of Canada now owns 418,647 shares of the transportation company's stock valued at $38,544,000 after buying an additional 42,111 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in United Airlines during the 2nd quarter worth about $7,671,000. State Street Corp boosted its stake in shares of United Airlines by 1.4% during the 2nd quarter. State Street Corp now owns 11,788,111 shares of the transportation company's stock worth $1,603,065,000 after buying an additional 162,283 shares during the last quarter. Junto Capital Management LP acquired a new position in shares of United Airlines during the 2nd quarter worth about $37,460,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of United Airlines in the 1st quarter valued at about $918,000. 69.69% of the stock is owned by institutional investors and hedge funds.

United Airlines Company Profile

United Airlines Holdings, Inc. operates United Airlines, a major U.S. passenger and cargo airline. The company provides domestic and international air transportation, cargo services, and travel-related offerings, including its MileagePlus loyalty program. Regional service is also offered under the United Express brand through partner airlines. United serves destinations across the Americas, Europe, Asia, Africa, and Oceania. Its network is organized around hubs including Chicago, Denver, Houston, Los Angeles, Newark, San Francisco, and Washington, D.C. The airline traces its history to Varney Air Lines, founded in 1926, and has developed through mergers and acquisitions over the decades.

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