Wheels Up Experience (NYSE:UP) Shares Down 4.5% - Here's What Happened

Key Points

• Wheels Up Experience Inc. shares fell 4.5% to $1.61 with trading volume up 9% from the average.
• The stock faces a "sell" rating from Weiss Ratings, while Wall Street Zen upgraded it from "sell" to "hold."
• Insider selling has occurred with notable sales, including CAO Alexander Chatkewitz selling 23,959 shares at an average price of $1.46.

Wheels Up Experience Inc. (NYSE:UP - Get Free Report) dropped 4.5% during trading on Monday . The company traded as low as $1.60 and last traded at $1.61. Approximately 3,200,597 shares traded hands during trading, an increase of 9% from the average daily volume of 2,924,466 shares. The stock had previously closed at $1.68.

Wall Street Analysts Forecast Growth

UP has been the topic of a number of recent analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Wheels Up Experience in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Wheels Up Experience from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Sell".

Wheels Up Experience Price Performance

The firm has a fifty day moving average of $2.06 and a two-hundred day moving average of $1.54. The stock has a market capitalization of $1.16 billion, a P/E ratio of -3.52 and a beta of 2.32.

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

Insiders Place Their Bets

In other Wheels Up Experience news, 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 sale, the chief accounting officer owned 507,462 shares in the company, valued at approximately $740,894.52. This represents a 4.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Donald Lee Moak sold 43,166 shares of the company'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 completion of the sale, the director owned 180,431 shares in the company, valued at approximately $561,140.41. This represents a 19.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 224,907 shares of company stock worth $617,064. Corporate insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Creative Planning acquired a new position in Wheels Up Experience in the 2nd quarter valued at $25,000. Hudson Bay Capital Management LP acquired a new stake in shares of Wheels Up Experience in the 2nd quarter worth $25,000. CWM LLC increased its stake in shares of 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 acquiring an additional 10,827 shares during the last quarter. Beck Mack & Oliver LLC acquired a new stake in shares of Wheels Up Experience in the 2nd quarter worth $27,000. Finally, Byrne Asset Management LLC acquired a new stake in shares of Wheels Up Experience in the 1st quarter worth $27,000. 98.20% of the stock is owned by institutional investors and hedge funds.

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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