Wheels Up Experience (NYSE:UP) Stock Price Down 6.9% - Here's What Happened

Shares of Wheels Up Experience Inc. (NYSE:UP - Get Free Report) dropped 6.9% during mid-day trading on Monday . The stock traded as low as $0.79 and last traded at $0.79. Approximately 146,395 shares traded hands during trading, a decline of 86% from the average daily volume of 1,037,114 shares. The stock had previously closed at $0.85.

Wheels Up Experience Stock Performance

The company has a market cap of $580.70 million, a P/E ratio of -1.66 and a beta of 2.39. The stock has a 50-day moving average of $1.09 and a two-hundred day moving average of $1.65.

Wheels Up Experience (NYSE:UP - Get Free Report) last announced its quarterly earnings data on Tuesday, March 11th. The company reported ($0.09) earnings per share for the quarter. The business had revenue of $204.82 million during the quarter. Wheels Up Experience had a negative return on equity of 796.67% and a negative net margin of 39.97%.

Insider Activity

In other Wheels Up Experience news, CEO of Air Partner Mark Briffa sold 28,717 shares of the firm's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $1.06, for a total value of $30,440.02. Following the completion of the sale, the insider now directly owns 1,090,971 shares in the company, valued at $1,156,429.26. This trade represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.13% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of UP. First Trust Advisors LP purchased a new position in shares of Wheels Up Experience in the fourth quarter worth approximately $1,264,000. Geode Capital Management LLC raised its holdings in Wheels Up Experience by 57.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,965,280 shares of the company's stock worth $4,757,000 after purchasing an additional 718,411 shares during the period. State Street Corp grew its holdings in Wheels Up Experience by 41.9% during the third quarter. State Street Corp now owns 1,322,891 shares of the company's stock valued at $3,201,000 after purchasing an additional 390,414 shares during the period. Corient Private Wealth LLC bought a new position in shares of Wheels Up Experience in the fourth quarter worth about $339,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Wheels Up Experience during the 4th quarter valued at approximately $199,000. 98.20% of the stock is owned by hedge funds and other institutional investors.

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.