Wheels Up Experience (NYSE:UP) Shares Down 3.1% - Should You Sell?

Key Points

• Wheels Up Experience shares fell 3.1% to $3.10, with trading volume about 53% below average. The stock remains well below its 50-day and 200-day moving averages of $3.93 and $8.11, respectively.
• Analyst sentiment is strongly negative: Wall Street Zen downgraded the stock to “sell,” Weiss Ratings reiterated a “sell (e+)” rating, and MarketBeat reports a consensus “Sell” rating.
• The company reported a quarterly loss of $2.97 per share on $182 million in revenue. Insiders have sold shares recently, while institutional investors own approximately 98.2% of the stock.

Shares of Wheels Up Experience Inc. (NYSE:UP - Get Free Report) traded down 3.1% during mid-day trading on Monday. The company traded as low as $3.08 and last traded at $3.10. Approximately 42,373 shares traded hands during trading, a decline of 53% from the average session volume of 90,876 shares. The stock had previously closed at $3.20.

Wall Street Analyst Weigh In

Several research firms have recently commented on UP. Wall Street Zen lowered Wheels Up Experience from a "hold" rating to a "sell" rating in a research note on Sunday, August 16th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Wheels Up Experience in a research report on Thursday, August 27th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock has a consensus rating of "Sell".

Wheels Up Experience Trading Down 3.1%

The company has a 50 day simple moving average of $3.93 and a two-hundred day simple moving average of $8.11. The firm has a market capitalization of $112.47 million, a P/E ratio of -0.37 and a beta of 2.19.

Wheels Up Experience (NYSE:UP - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($2.97) earnings per share (EPS) for the quarter. The firm had revenue of $182.00 million for the quarter.

Insider Buying and Selling at Wheels Up Experience

In related news, major shareholder Ck Wheels Llc sold 9,363 shares of the company's stock in a transaction on Monday, August 31st. The shares were sold at an average price of $4.61, for a total transaction of $43,163.43. Following the completion of the transaction, the insider owned 12,860,891 shares in the company, valued at approximately $59,288,707.51. This represents a 0.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 14,644 shares of company stock worth $70,792 in the last three months. 0.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Wheels Up Experience

A number of institutional investors and hedge funds have recently bought and sold shares of UP. Knighthead Capital Management LLC purchased a new stake in Wheels Up Experience in the 1st quarter worth $133,344,000. Inspire Investing LLC grew its position in shares of Wheels Up Experience by 35.9% during the first quarter. Inspire Investing LLC now owns 1,061,623 shares of the company's stock valued at $548,000 after purchasing an additional 280,705 shares in the last quarter. Kore Advisors LP grew its position in shares of Wheels Up Experience by 0.6% during the first quarter. Kore Advisors LP now owns 15,194,884 shares of the company's stock valued at $7,848,000 after purchasing an additional 94,176 shares in the last quarter. WNY Asset Management LLC purchased a new position in shares of Wheels Up Experience during the first quarter valued at about $39,000. Finally, Cetera Investment Advisers increased its holdings in shares of Wheels Up Experience by 34.1% in the first quarter. Cetera Investment Advisers now owns 179,603 shares of the company's stock worth $93,000 after purchasing an additional 45,661 shares during the last quarter. 98.20% of the stock is currently owned by institutional investors.

About Wheels Up Experience

Wheels Up Experience Inc is an aviation company that provides private air travel services in the United States and select international markets. Through its Wheels Up brand, the company offers private jet and turboprop flights for individuals, families, businesses and other organizations.

The company's services include private aviation memberships, on-demand charter flights and aircraft management. Members and charter customers can arrange flights through Wheels Up's digital platform and service network, while aircraft owners can engage the company to manage the operation, staffing, maintenance and scheduling of their aircraft.

Wheels Up was founded in 2013 and expanded its platform through acquisitions and strategic relationships, including its 2019 acquisition of Delta Private Jets.

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