Wheels Up Experience (NYSE:UP) Shares Up 4.5% - Time to Buy?

Wheels Up Experience Inc. (NYSE:UP - Get Free Report) shot up 4.5% during trading on Friday . The company traded as high as $1.24 and last traded at $1.27. 403,266 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 1,066,073 shares. The stock had previously closed at $1.21.

Wheels Up Experience Price Performance

The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -2.97 and a beta of 2.35. The firm has a fifty day moving average of $1.14 and a 200 day moving average of $1.46.

Wheels Up Experience (NYSE:UP - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.11) earnings per share (EPS) for the quarter. Wheels Up Experience had a negative net margin of 39.97% and a negative return on equity of 796.67%. The company had revenue of $177.53 million during the quarter.

Insiders Place Their Bets

In other 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 sale, the insider now owns 1,090,971 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wheels Up Experience

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in Wheels Up Experience by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,978,652 shares of the company's stock worth $3,266,000 after acquiring an additional 13,372 shares in the last quarter. Northern Trust Corp grew its stake in shares of Wheels Up Experience by 10.7% during the 4th quarter. Northern Trust Corp now owns 840,804 shares of the company's stock worth $1,387,000 after purchasing an additional 81,293 shares during the period. First Trust Advisors LP acquired a new position in shares of Wheels Up Experience during the 4th quarter worth $1,264,000. Corient Private Wealth LLC purchased a new position in shares of Wheels Up Experience in the 4th quarter valued at about $339,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Wheels Up Experience in the first quarter valued at about $156,000. 98.20% of the stock is owned by institutional investors and hedge funds.

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.