Palestra Capital Management LLC Purchases 338,339 Shares of United Airlines Holdings, Inc. (NASDAQ:UAL)

Palestra Capital Management LLC raised its stake in United Airlines Holdings, Inc. (NASDAQ:UAL - Free Report) by 41.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,154,997 shares of the transportation company's stock after buying an additional 338,339 shares during the quarter. United Airlines accounts for about 3.1% of Palestra Capital Management LLC's holdings, making the stock its 16th biggest position. Palestra Capital Management LLC owned approximately 0.35% of United Airlines worth $112,150,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UAL. Proficio Capital Partners LLC acquired a new position in United Airlines during the fourth quarter worth $137,000. Longbow Finance SA acquired a new position in shares of United Airlines during the 4th quarter valued at about $9,359,000. KBC Group NV bought a new position in shares of United Airlines in the 4th quarter valued at approximately $485,000. Bleakley Financial Group LLC lifted its holdings in United Airlines by 293.7% in the 4th quarter. Bleakley Financial Group LLC now owns 23,458 shares of the transportation company's stock worth $2,278,000 after purchasing an additional 17,499 shares during the last quarter. Finally, Islay Capital Management LLC bought a new stake in United Airlines during the fourth quarter worth approximately $790,000. Hedge funds and other institutional investors own 69.69% of the company's stock.

United Airlines Price Performance

Shares of NASDAQ UAL traded up $0.79 during midday trading on Monday, reaching $74.86. 9,308,140 shares of the company traded hands, compared to its average volume of 7,521,130. United Airlines Holdings, Inc. has a 12 month low of $37.02 and a 12 month high of $116.00. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.74 and a current ratio of 0.81. The stock's 50-day simple moving average is $72.56 and its 200-day simple moving average is $88.15. The firm has a market cap of $24.45 billion, a PE ratio of 7.94, a PEG ratio of 0.67 and a beta of 1.39.

United Airlines (NASDAQ:UAL - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The transportation company reported $0.91 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $13.47 billion. As a group, equities analysts anticipate that United Airlines Holdings, Inc. will post 12.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Barclays reduced their price objective on shares of United Airlines from $140.00 to $94.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Evercore ISI decreased their price target on shares of United Airlines from $145.00 to $100.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Raymond James downgraded United Airlines from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Morgan Stanley boosted their price objective on United Airlines from $130.00 to $140.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. Finally, TD Cowen increased their target price on United Airlines from $73.00 to $88.00 and gave the company a "buy" rating in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, United Airlines presently has an average rating of "Buy" and a consensus price target of $96.60.

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.