Wheels Up Experience (NYSE:UP) Trading Down 2.4% - Here's Why

Wheels Up Experience Inc. (NYSE:UP - Get Free Report) shares fell 2.4% during trading on Tuesday . The stock traded as low as $0.77 and last traded at $0.76. 268,607 shares traded hands during trading, a decline of 74% from the average session volume of 1,036,524 shares. The stock had previously closed at $0.78.

Wheels Up Experience Stock Performance

The company has a 50 day moving average of $1.03 and a two-hundred day moving average of $1.60. The stock has a market capitalization of $582.09 million, a PE ratio of -1.67 and a beta of 2.39.

Wheels Up Experience (NYSE:UP - Get Free Report) last issued its quarterly earnings results on Tuesday, March 11th. The company reported ($0.09) earnings per share for the quarter. The business had revenue of $204.82 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 Transactions at Wheels Up Experience

In related news, CEO of Air Partner Mark Briffa sold 28,717 shares of Wheels Up Experience stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $1.06, for a total transaction of $30,440.02. Following the completion of the sale, the insider now owns 1,090,971 shares of the company's stock, valued at $1,156,429.26. The trade was a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.13% of the company's stock.

Hedge Funds Weigh In On Wheels Up Experience

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Byrne Asset Management LLC acquired a new stake in shares of Wheels Up Experience in the first quarter worth $27,000. Hsbc Holdings PLC boosted its holdings in Wheels Up Experience by 97.3% in the fourth quarter. Hsbc Holdings PLC now owns 21,775 shares of the company's stock valued at $35,000 after purchasing an additional 10,740 shares during the last quarter. Stifel Financial Corp acquired a new stake in Wheels Up Experience during the 3rd quarter worth about $41,000. EWA LLC purchased a new position in shares of Wheels Up Experience during the 1st quarter valued at about $43,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Wheels Up Experience by 49.6% in the fourth quarter. Wells Fargo & Company MN now owns 43,147 shares of the company's stock worth $71,000 after buying an additional 14,299 shares during 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.