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

Key Points

• Wheels Up Experience saw an unusual trading volume of approximately 5.08 million shares, marking an increase of 82% from the previous session.
• Despite a recent upgrade from a "sell" to a "hold" rating by Wall Street Zen, the stock still holds an average rating of "Sell" according to MarketBeat.com.
• Insider transactions indicate a 7.13% decrease in David Godsman's stock position after selling 75,000 shares, contributing to a total of 224,907 shares sold by insiders over the last 90 days.

Wheels Up Experience Inc. (NYSE:UP - Get Free Report) saw unusually-high trading volume on Monday . Approximately 5,082,115 shares changed hands during trading, an increase of 82% from the previous session's volume of 2,791,966 shares.The stock last traded at $2.06 and had previously closed at $1.95.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on UP shares. Wall Street Zen raised shares of Wheels Up Experience from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Wheels Up Experience in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Sell".

Wheels Up Experience Stock Up 7.4%

The firm has a 50 day moving average price of $2.01 and a 200 day moving average price of $1.51. The stock has a market cap of $1.46 billion, a PE ratio of -4.46 and a beta of 2.32.

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

Insider Activity at Wheels Up Experience

In other Wheels Up Experience news, insider David Godsman sold 75,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $2.83, for a total transaction of $212,250.00. Following the sale, the insider owned 976,715 shares of the company's stock, valued at approximately $2,764,103.45. This trade represents a 7.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian Joseph Kedzior sold 25,000 shares of the business'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 completion of the transaction, the insider directly owned 834,914 shares of the company's stock, valued at approximately $2,454,647.16. The trade was a 2.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 224,907 shares of company stock valued at $617,064 over the last 90 days. Insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE lifted its position in Wheels Up Experience by 72.5% during the fourth quarter. Bank of America Corp DE now owns 73,560 shares of the company's stock valued at $121,000 after acquiring an additional 30,919 shares during the last quarter. EWA LLC purchased a new stake in shares of Wheels Up Experience during the 1st quarter valued at $43,000. Nuveen LLC acquired a new stake in shares of Wheels Up Experience in the 1st quarter worth $148,000. Deutsche Bank AG grew its stake in Wheels Up Experience by 69.0% during the 1st quarter. Deutsche Bank AG now owns 73,593 shares of the company's stock worth $74,000 after buying an additional 30,058 shares during the last quarter. Finally, Byrne Asset Management LLC acquired a new position in Wheels Up Experience during the 1st quarter valued at about $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.

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