Wheels Up Experience (NYSE:UP) Sees Unusually-High Trading Volume - Should You Buy?

Key Points

• Wheels Up Experience experienced a significant increase in trading volume with 2,249,655 shares traded on Monday, reflecting a 3% rise from the previous session.
• The stock was recently upgraded from a "sell" to a "hold" rating by Wall Street Zen, and it currently has a market capitalization of $1.52 billion.
• Insiders have sold a total of 224,907 shares valued at approximately $617,064 over the last three months, indicating a potential lack of confidence in the company's stock performance.

Wheels Up Experience Inc. (NYSE:UP - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 2,249,655 shares changed hands during trading, an increase of 3% from the previous session's volume of 2,182,968 shares.The stock last traded at $2.16 and had previously closed at $2.17.

Analyst Ratings Changes

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

Wheels Up Experience Price Performance

The firm's fifty day moving average is $1.90 and its 200 day moving average is $1.44. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -5.30 and a beta of 2.41.

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

Insider Transactions at Wheels Up Experience

In other Wheels Up Experience news, COO David L. Holtz sold 36,318 shares of the business's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $2.92, for a total value of $106,048.56. Following the transaction, the chief operating officer owned 954,254 shares in the company, valued at $2,786,421.68. The trade was a 3.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian Joseph Kedzior sold 25,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $2.94, for a total value of $73,500.00. Following the completion of the transaction, the insider owned 834,914 shares in the company, valued at $2,454,647.16. This trade represents a 2.91% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 224,907 shares of company stock valued at $617,064. Corporate insiders own 0.15% of the company's stock.

Institutional Trading of Wheels Up Experience

A number of institutional investors and hedge funds have recently made changes to their positions in UP. Jane Street Group LLC acquired a new stake in shares of Wheels Up Experience in the second quarter worth about $795,000. Marshall Wace LLP acquired a new stake in shares of Wheels Up Experience in the second quarter worth about $222,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Wheels Up Experience in the second quarter worth about $198,000. Brevan Howard Capital Management LP acquired a new stake in shares of Wheels Up Experience in the second quarter worth about $172,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Wheels Up Experience in the first quarter worth about $156,000. 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.