Wheels Up Experience (NYSE:UP) Trading Down 7.6%

Shares of Wheels Up Experience Inc. (NYSE:UP - Get Free Report) fell 7.6% during trading on Tuesday . The company traded as low as $2.64 and last traded at $2.66. 179,048 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 886,373 shares. The stock had previously closed at $2.88.

Wheels Up Experience Trading Down 8.7 %

The business has a 50 day moving average price of $3.06 and a 200 day moving average price of $2.62. The company has a current ratio of 0.48, a quick ratio of 0.45 and a debt-to-equity ratio of 2.41. The company has a market capitalization of $1.83 billion, a P/E ratio of -0.18 and a beta of 2.21.

Wheels Up Experience (NYSE:UP - Get Free Report) last posted its earnings results on Thursday, March 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($2.60) by $2.47. Wheels Up Experience had a negative return on equity of 291.29% and a negative net margin of 38.89%. The business had revenue of $246.38 million during the quarter.

Insider Buying and Selling

In related news, insider Laura Heltebran sold 28,413 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $2.54, for a total transaction of $72,169.02. Following the completion of the sale, the insider now directly owns 37,707 shares of the company's stock, valued at approximately $95,775.78. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wheels Up Experience

Several hedge funds have recently made changes to their positions in UP. Knighthead Capital Management LLC bought a new position in shares of Wheels Up Experience during the 3rd quarter worth approximately $125,365,000. Kore Advisors LP bought a new position in shares of Wheels Up Experience during the 4th quarter worth approximately $88,552,000. Goldman Sachs Group Inc. grew its stake in shares of Wheels Up Experience by 8,413.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,069,177 shares of the company's stock worth $25,095,000 after acquiring an additional 7,974,399 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Wheels Up Experience by 147.3% during the 1st quarter. Vanguard Group Inc. now owns 8,021,225 shares of the company's stock worth $24,946,000 after acquiring an additional 4,777,527 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of Wheels Up Experience by 19.9% during the 3rd quarter. BlackRock Inc. now owns 13,103,773 shares of the company's stock worth $15,068,000 after acquiring an additional 2,173,061 shares in the last quarter. 98.20% of the stock is owned by institutional investors.

About Wheels Up Experience

Wheels Up Experience Inc provides private aviation services in the United States and internationally. The company offers membership programs consisting of Connect that offers members variable dynamic pricing on a per trip basis and flexibility on their schedule; Core for private flyers; and UP for Business for small and medium enterprise, and large corporate customers for whom it is primary provider of private flights, as well as supplementary solution to their own aircraft operations.