Wheels Up Experience (NYSE:UP) Sees Strong Trading Volume - Time to 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 traded hands during mid-day 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 Upgrades and Downgrades

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 Stock Up 0.2%

The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -4.63 and a beta of 2.40. The firm has a 50 day moving average of $1.81 and a two-hundred day moving average of $1.41.

Wheels Up Experience (NYSE:UP - Get Free Report) last posted 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.

Insiders Place Their Bets

In other news, Director Donald Lee Moak sold 43,166 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $3.11, for a total value of $134,246.26. Following the transaction, the director owned 180,431 shares in the company, valued at $561,140.41. This trade represents a 19.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian Joseph Kedzior sold 25,000 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $2.94, for a total value of $73,500.00. Following the sale, the insider owned 834,914 shares of the company's stock, 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. In the last three months, insiders sold 224,907 shares of company stock valued at $617,064. 0.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wheels Up Experience

Several large investors have recently added to or reduced their stakes in the company. Creative Planning purchased a new stake in Wheels Up Experience during the second quarter valued at about $25,000. Hudson Bay Capital Management LP purchased a new stake in shares of Wheels Up Experience during the 2nd quarter valued at approximately $25,000. CWM LLC boosted its holdings in Wheels Up Experience by 77.0% in the 2nd quarter. CWM LLC now owns 24,880 shares of the company's stock worth $27,000 after buying an additional 10,827 shares during the period. Beck Mack & Oliver LLC purchased a new position in Wheels Up Experience in the 2nd quarter valued at approximately $27,000. Finally, Byrne Asset Management LLC purchased a new position in Wheels Up Experience in the 1st quarter valued at approximately $27,000. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.