Wheels Up Experience (NYSE:UP) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• Wheels Up Experience Inc. experienced unusually high trading volume on Tuesday, with approximately 3.4 million shares traded, marking a 65% increase from the previous session.
• Wall Street Zen upgraded the company's rating from "sell" to "hold", indicating a more positive outlook following their latest earnings report.
• Insider transactions revealed that significant shares were sold by company COO David L. Holtz and CAO Alexander Chatkewitz, reducing their ownership stake in the company.

Wheels Up Experience Inc. (NYSE:UP - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 3,420,414 shares were traded during mid-day trading, an increase of 65% from the previous session's volume of 2,067,313 shares.The stock last traded at $2.18 and had previously closed at $2.31.

Wall Street Analysts Forecast Growth

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 Trading Down 5.4%

The firm has a market capitalization of $1.53 billion, a PE ratio of -4.63 and a beta of 2.40. The business has a 50 day moving average price of $1.73 and a 200-day moving average price of $1.38.

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

Insider Activity at Wheels Up Experience

In related 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 approximately $2,786,421.68. The trade was a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Alexander Chatkewitz sold 23,959 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $1.46, for a total value of $34,980.14. Following the completion of the sale, the chief accounting officer owned 507,462 shares of the company's stock, valued at $740,894.52. This trade represents a 4.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 215,003 shares of company stock valued at $595,474 over the last 90 days. Corporate insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Creative Planning acquired a new stake in shares of Wheels Up Experience in the second quarter valued at approximately $25,000. Hudson Bay Capital Management LP bought a new stake in shares of Wheels Up Experience during the 2nd quarter valued at $25,000. CWM LLC raised 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 valued at $27,000 after acquiring an additional 10,827 shares during the last quarter. Byrne Asset Management LLC acquired a new position in Wheels Up Experience in the 1st quarter worth $27,000. Finally, Beck Mack & Oliver LLC acquired a new position in Wheels Up Experience in the 2nd quarter worth $27,000. Institutional investors own 98.20% of the company's stock.

Wheels Up Experience Company Profile

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.

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