Wheels Up Experience (NYSE:UP) Shares Down 4.4% - Here's What Happened

Shares of Wheels Up Experience Inc. (NYSE:UP - Get Free Report) were down 4.4% during trading on Wednesday . The stock traded as low as $1.41 and last traded at $1.43. Approximately 56,989 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 823,747 shares. The stock had previously closed at $1.49.

Wheels Up Experience Trading Down 3.1%

The firm's fifty day moving average price is $1.16 and its 200 day moving average price is $1.46. The firm has a market capitalization of $981.80 million, a PE ratio of -2.81 and a beta of 2.38.

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

Insider Activity at Wheels Up Experience

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

Hedge Funds Weigh In On Wheels Up Experience

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC lifted its holdings in Wheels Up Experience by 97.3% during 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 in the last quarter. Byrne Asset Management LLC purchased a new position in Wheels Up Experience during the first quarter valued at $27,000. EWA LLC acquired a new stake in shares of Wheels Up Experience in the first quarter valued at about $43,000. Wells Fargo & Company MN raised its position 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 valued at $71,000 after buying an additional 14,299 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Wheels Up Experience by 110.7% in the fourth quarter. SG Americas Securities LLC now owns 48,527 shares of the company's stock valued at $80,000 after buying an additional 25,495 shares during the last quarter. 98.20% of the stock is owned by hedge funds and other institutional investors.

Wheels Up Experience Company Profile

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.