Wheels Up Experience (NYSE:UP) Shares Gap Down - What's Next?

Wheels Up Experience Inc. (NYSE:UP - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $1.65, but opened at $1.60. Wheels Up Experience shares last traded at $1.62, with a volume of 67,666 shares changing hands.

Wheels Up Experience Price Performance

The stock has a market capitalization of $1.19 billion, a P/E ratio of -3.41 and a beta of 2.35. The stock's 50-day simple moving average is $1.07 and its 200 day simple moving average is $1.50.

Wheels Up Experience (NYSE:UP - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.11) EPS for the quarter. The company had revenue of $177.53 million for 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 related 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 transaction of $30,440.02. Following the transaction, the insider now directly owns 1,090,971 shares of the company's stock, valued at approximately $1,156,429.26. This trade represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace LLP acquired a new stake in shares of Wheels Up Experience in the fourth quarter valued at approximately $115,000. Wells Fargo & Company MN raised its holdings in Wheels Up Experience by 49.6% in the 4th quarter. Wells Fargo & Company MN now owns 43,147 shares of the company's stock valued at $71,000 after acquiring an additional 14,299 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in Wheels Up Experience by 48,303.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 75,025 shares of the company's stock valued at $119,000 after acquiring an additional 74,870 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Wheels Up Experience during the 4th quarter valued at $1,264,000. Finally, Corient Private Wealth LLC bought a new stake in shares of Wheels Up Experience during the 4th quarter valued at $339,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.