Wheels Up Experience (NYSE:UP) Sees Strong Trading Volume - Here's Why

Key Points

• Wheels Up Experience (NYSE: UP) experienced a significant trading increase of 123%, with over 5.4 million shares changing hands on Monday, bringing the stock price to $2.49 from a previous close of $2.50.
• Wall Street analysts revised their rating for Wheels Up from "sell" to "hold," potentially indicating a more stable outlook for the stock.
• Insiders sold a total of 224,907 shares worth approximately $617,064 in the past ninety days, with 0.15% of the stock currently owned by company insiders.

Shares of Wheels Up Experience Inc. (NYSE:UP - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 5,463,343 shares changed hands during mid-day trading, an increase of 123% from the previous session's volume of 2,452,463 shares.The stock last traded at $2.49 and had previously closed at $2.50.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Wheels Up Experience from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th.

Wheels Up Experience Trading Down 4.2%

The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -5.20 and a beta of 2.40. The stock's 50 day moving average is $1.92 and its 200 day moving average is $1.45.

Wheels Up Experience (NYSE:UP - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.11) EPS for the quarter. The company had revenue of $189.64 million for the quarter.

Insider Activity

In other Wheels Up Experience news, COO David L. Holtz sold 36,318 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $2.92, for a total transaction of $106,048.56. Following the transaction, the chief operating officer owned 954,254 shares in the company, valued at $2,786,421.68. This represents a 3.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Alexander Chatkewitz sold 23,959 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $1.46, for a total transaction of $34,980.14. Following the transaction, the chief accounting officer owned 507,462 shares in the company, valued at approximately $740,894.52. The trade was a 4.51% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 224,907 shares of company stock worth $617,064. Insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in UP. Hudson Bay Capital Management LP acquired a new position in shares of Wheels Up Experience during the 2nd quarter worth approximately $25,000. Creative Planning acquired a new stake in shares of Wheels Up Experience during the 2nd quarter worth approximately $25,000. Byrne Asset Management LLC acquired a new stake in shares of Wheels Up Experience during the 1st quarter worth approximately $27,000. CWM LLC boosted its position in shares of Wheels Up Experience by 77.0% during the 2nd quarter. CWM LLC now owns 24,880 shares of the company's stock worth $27,000 after acquiring an additional 10,827 shares in the last quarter. Finally, Beck Mack & Oliver LLC acquired a new stake in shares of Wheels Up Experience during the 2nd quarter worth approximately $27,000. Institutional investors and hedge funds own 98.20% of the company's stock.

About Wheels Up Experience

Wheels Up Experience Inc provides private aviation services in the United States and internationally. The company offers Wheels Up Membership program that consists of two primary membership categories, such as Individual membership for individual and business fliers; and UP for Business membership consists of small and medium enterprise, and custom enterprise solutions for business fliers that tend to spend at higher levels.