Wheels Up Experience (NYSE:UP) Shares Down 5.7% on Insider Selling

Key Points

• Wheels Up Experience Inc. (NYSE: UP) shares dropped 5.7% amid insider selling, with the stock trading as low as $3.03. The decline follows the sale of 75,000 shares by insider David Godsman at an average price of $2.83.
• Analyst firm Wall Street Zen upgraded Wheels Up from a "sell" to a "hold" rating in early July, indicating a shift in market sentiment.
• The company's recent quarterly earnings report showed an EPS of ($0.11) and revenue of $189.64 million, reflecting financial challenges as the stock faces increased insider trading activity.

Wheels Up Experience Inc. (NYSE:UP - Get Free Report) shares fell 5.7% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $3.03 and last traded at $3.11. 2,583,291 shares changed hands during trading, an increase of 59% from the average session volume of 1,620,192 shares. The stock had previously closed at $3.30.

Specifically, insider David Godsman sold 75,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $2.83, for a total value of $212,250.00. Following the sale, the insider directly owned 976,715 shares in the company, valued at approximately $2,764,103.45. The trade was a 7.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $73,500.00. Following the completion of the sale, the insider owned 834,914 shares in the company, valued at approximately $2,454,647.16. This trade represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, Director Donald Lee Moak sold 43,166 shares of the business's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $3.11, for a total value of $134,246.26. Following the sale, the director directly owned 180,431 shares in the company, valued at approximately $561,140.41. The trade was a 19.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Analyst Upgrades and Downgrades

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

Wheels Up Experience Trading Down 5.5%

The firm has a 50 day moving average price of $1.56 and a 200-day moving average price of $1.33. The firm has a market cap of $2.18 billion, a PE ratio of -6.69 and a beta of 2.33.

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

Hedge Funds Weigh In On Wheels Up Experience

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC boosted its stake in shares of Wheels Up Experience by 97.3% in the 4th quarter. Hsbc Holdings PLC now owns 21,775 shares of the company's stock valued at $35,000 after buying an additional 10,740 shares during the period. Creative Planning purchased a new position in shares of Wheels Up Experience in the 2nd quarter valued at about $25,000. Hudson Bay Capital Management LP purchased a new position in shares of Wheels Up Experience in the 2nd quarter valued at about $25,000. CWM LLC boosted 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 valued at $27,000 after buying an additional 10,827 shares during the period. Finally, Beck Mack & Oliver LLC acquired a new stake in shares of Wheels Up Experience during the 2nd quarter worth 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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