Wheels Up Experience (NYSE:UP) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Wheels Up Experience from “sell” to “hold,” although Weiss Ratings maintained a “sell (e+)” rating and MarketBeat data shows an overall “Sell” consensus.
• The stock opened at $5.42, well below its 52-week high of $70.00, with a market capitalization of about $196.4 million. The company reported a quarterly loss of $2.29 per share on revenue of $168.92 million.
• Institutional investors own 98.2% of the company, including a new $133.3 million stake from Knighthead Capital Management. Recent insider activity was mixed, with CEO George Mattson buying shares while major shareholder CK Wheels LLC sold shares.

Wheels Up Experience (NYSE:UP - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Wheels Up Experience in a research note on Monday, June 1st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Wheels Up Experience presently has an average rating of "Sell".

Wheels Up Experience Stock Down 0.1%

Wheels Up Experience stock opened at $5.42 on Friday. Wheels Up Experience has a 52-week low of $4.69 and a 52-week high of $70.00. The firm has a fifty day moving average of $7.25 and a 200-day moving average of $9.29. The firm has a market capitalization of $196.44 million, a P/E ratio of -0.64 and a beta of 2.09.

Wheels Up Experience (NYSE:UP - Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported ($2.29) earnings per share for the quarter. The company had revenue of $168.92 million for the quarter.

Insiders Place Their Bets

In other news, CEO George N. Mattson purchased 14,983 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The shares were purchased at an average price of $5.30 per share, with a total value of $79,409.90. Following the purchase, the chief executive officer directly owned 14,983 shares of the company's stock, valued at approximately $79,409.90. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Ck Wheels Llc sold 27,524 shares of the business's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $8.05, for a total transaction of $221,568.20. Following the completion of the transaction, the insider owned 12,870,354 shares in the company, valued at $103,606,349.70. This represents a 0.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have bought 27,791 shares of company stock worth $146,206 and have sold 43,027 shares worth $335,159. Insiders own 0.33% of the company's stock.

Institutional Trading of Wheels Up Experience

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Knighthead Capital Management LLC bought a new stake in shares of Wheels Up Experience in the first quarter worth $133,344,000. Jane Street Group LLC bought a new position in Wheels Up Experience during the 2nd quarter valued at $795,000. J. Derek Lewis & Associates Inc. bought a new position in Wheels Up Experience during the 4th quarter valued at $356,000. Inspire Investing LLC grew its holdings in Wheels Up Experience by 210.6% during the 4th quarter. Inspire Investing LLC now owns 780,918 shares of the company's stock worth $513,000 after acquiring an additional 529,534 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new position in Wheels Up Experience during the 4th quarter worth $263,000. 98.20% of the stock is owned by hedge funds and other institutional investors.

Wheels Up Experience Company Profile

Wheels Up Experience Inc is a membership-driven private aviation company that provides on-demand charter flights and flight card services to corporate clients and high-net-worth individuals. The company operates a combination of owned and managed aircraft, including turboprops and light to midsize jets, and supplements its fleet through a network of partner operators. Its digital platform allows members to book flights, manage itineraries and access empty-leg opportunities with real-time pricing and availability.

Through tiered membership programs, Wheels Up offers flexible access to private air travel without the long-term commitments typically associated with fractional ownership.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source