Wheels Up Experience (NYSE:UP) Trading 6.1% Higher - What's Next?

Key Points

• Wheels Up Experience Inc. shares increased by 6.1% during trading, reaching a high of $2.21 and trading volume surged by 200% compared to the average.
• Wall Street analysts upgraded the company’s rating from "sell" to "hold", indicating positive growth expectations.
• Insider transactions include the sale of 75,000 shares by David Godsman, which reduced his ownership by 7.13%.

Wheels Up Experience Inc. (NYSE:UP - Get Free Report)'s stock price shot up 6.1% during trading on Wednesday . The company traded as high as $2.21 and last traded at $2.19. 6,938,957 shares changed hands during trading, an increase of 200% from the average session volume of 2,312,149 shares. The stock had previously closed at $2.06.

Wall Street Analyst Weigh In

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

Wheels Up Experience Price Performance

The stock's 50-day moving average price is $1.90 and its 200 day moving average price is $1.44. The firm has a market cap of $1.74 billion, a P/E ratio of -5.30 and a beta of 2.40.

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

Insider Buying and Selling

In other Wheels Up Experience news, COO David L. Holtz sold 36,318 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $2.92, for a total transaction of $106,048.56. Following the transaction, the chief operating officer owned 954,254 shares of the company's stock, valued at $2,786,421.68. The trade was a 3.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian Joseph Kedzior sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $2.94, for a total value of $73,500.00. Following the completion of the sale, the insider owned 834,914 shares in the company, valued at $2,454,647.16. This represents a 2.91% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 224,907 shares of company stock worth $617,064. Corporate insiders own 0.15% of the company's stock.

Institutional Investors Weigh In On Wheels Up Experience

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC lifted 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 worth $27,000 after acquiring an additional 10,827 shares during the last quarter. Creative Planning bought a new position in shares of Wheels Up Experience during the second quarter worth approximately $25,000. Hudson Bay Capital Management LP acquired a new stake in Wheels Up Experience during the 2nd quarter worth approximately $25,000. Beck Mack & Oliver LLC bought a new stake in Wheels Up Experience in the 2nd quarter valued at $27,000. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in Wheels Up Experience by 197.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 40,534 shares of the company's stock valued at $43,000 after buying 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.