Wheels Up Experience (NYSE:UP) Shares Gap Up - Should You Buy?

Key Points

• Wheels Up Experience shares gapped up to $2.33 from a previous closing of $2.19, with a last traded price of $2.37 and significant trading volume of 3,186,446 shares.
• Wall Street analysts upgraded the stock from a "sell" rating to a "hold" rating, indicating a positive shift in outlook for the company.
• Insider selling has occurred recently, including a sale by Director Donald Lee Moak, who reduced his holdings by 19.31%, demonstrating potential concern about the stock's performance among insiders.

Wheels Up Experience Inc. (NYSE:UP - Get Free Report)'s share price gapped up prior to trading on Thursday . The stock had previously closed at $2.19, but opened at $2.33. Wheels Up Experience shares last traded at $2.37, with a volume of 3,186,446 shares.

Wall Street Analysts Forecast Growth

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 Stock Performance

The company has a market capitalization of $1.70 billion, a P/E ratio of -5.16 and a beta of 2.41. The firm's fifty day moving average is $1.87 and its 200 day moving average is $1.42.

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

Insider Buying and Selling at Wheels Up Experience

In other Wheels Up Experience news, Director Donald Lee Moak sold 43,166 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $3.11, for a total transaction of $134,246.26. Following the transaction, the director owned 180,431 shares in the company, valued at approximately $561,140.41. This represents a 19.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Alexander Chatkewitz sold 23,959 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $1.46, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 224,907 shares of company stock worth $617,064 in the last three months. 0.15% of the stock is owned by company insiders.

Institutional Trading of Wheels Up Experience

A number of hedge funds and other institutional investors have recently made changes to their positions in UP. CWM LLC grew its position in Wheels Up Experience by 77.0% during the second 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. Creative Planning acquired a new stake in Wheels Up Experience during the second quarter valued at $25,000. Hudson Bay Capital Management LP acquired a new stake in Wheels Up Experience during the second quarter valued at $25,000. Beck Mack & Oliver LLC acquired a new stake in Wheels Up Experience during the second quarter valued at $27,000. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Wheels Up Experience by 197.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 40,534 shares of the company's stock valued at $43,000 after purchasing an additional 26,917 shares in the last quarter. Institutional investors and hedge funds 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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