Wheels Up Experience (NYSE:UP) Shares Gap Up - Here's Why

Wheels Up Experience Inc. (NYSE:UP - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $1.28, but opened at $1.40. Wheels Up Experience shares last traded at $1.58, with a volume of 477,968 shares changing hands.

Wheels Up Experience Trading Up 24.6%

The firm's 50-day moving average price is $1.28 and its 200 day moving average price is $1.39. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -3.23 and a beta of 2.38.

Wheels Up Experience (NYSE:UP - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.11) earnings per share for the quarter. The business had revenue of $177.53 million during the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of Wheels Up Experience by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,978,652 shares of the company's stock valued at $3,266,000 after purchasing an additional 13,372 shares in the last quarter. Northern Trust Corp boosted its position in Wheels Up Experience by 10.7% in the fourth quarter. Northern Trust Corp now owns 840,804 shares of the company's stock valued at $1,387,000 after buying an additional 81,293 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Wheels Up Experience during the fourth quarter worth $1,264,000. Corient Private Wealth LLC bought a new stake in shares of Wheels Up Experience during the fourth quarter worth $339,000. Finally, AQR Capital Management LLC acquired a new position in shares of Wheels Up Experience during the first quarter worth $156,000. Institutional investors 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.

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