Wheels Up Experience (NYSE:UP) Shares Gap Up - Time to Buy?

Key Points

• Wheels Up Experience Inc. shares gapped up from $2.17 to $2.28, with a last trading price of $2.38 and a volume of over 3.7 million shares.
• The stock received an upgrade from "sell" to "hold" by Wall Street Zen, indicating a potential stabilization in its performance.
• Insiders own only 0.15% of the company’s stock, while institutional investors hold a substantial 98.20% of its shares.

Shares of Wheels Up Experience Inc. (NYSE:UP - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $2.17, but opened at $2.28. Wheels Up Experience shares last traded at $2.38, with a volume of 3,758,647 shares traded.

Analyst Upgrades and Downgrades

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

Wheels Up Experience Trading Up 2.9%

The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of -6.37 and a beta of 2.33. The firm's 50-day moving average is $1.52 and its 200 day moving average is $1.32.

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

Insider Buying and Selling at Wheels Up Experience

In other news, CAO Alexander Chatkewitz sold 23,959 shares of Wheels Up Experience stock in a transaction on Friday, August 15th. The shares were sold at an average price of $1.46, for a total value of $34,980.14. Following the completion of the sale, the chief accounting officer owned 507,462 shares in the company, valued at $740,894.52. The trade was a 4.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.15% of the stock is owned by corporate insiders.

Institutional Trading of Wheels Up Experience

Several institutional investors have recently made changes to their positions in the company. Northern Trust Corp grew its stake in shares of Wheels Up Experience by 10.7% in the 4th quarter. Northern Trust Corp now owns 840,804 shares of the company's stock worth $1,387,000 after acquiring an additional 81,293 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Wheels Up Experience in the fourth quarter worth approximately $1,264,000. Jane Street Group LLC bought a new position in Wheels Up Experience during the second quarter valued at approximately $795,000. Marshall Wace LLP bought a new position in Wheels Up Experience during the second quarter valued at approximately $222,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Wheels Up Experience during the second quarter valued at approximately $198,000. 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.