Wheels Up Experience (NYSE:UP) Trading Down 6% - What's Next?

Key Points

• Wheels Up Experience's stock price fell by 6% during mid-day trading on Tuesday, closing at $1.97 after reaching a low of $1.92.
• Analysts have mixed ratings on the stock, with Weiss Ratings maintaining a "sell" rating while Wall Street Zen upgraded it to "hold," resulting in an average rating of "sell."
• Insider selling activity was noted, with two insiders selling a total of **100,000 shares** in late August, which represents a decrease in their overall stock ownership.

Wheels Up Experience Inc. (NYSE:UP - Get Free Report)'s share price traded down 6% during mid-day trading on Tuesday . The stock traded as low as $1.92 and last traded at $1.97. 3,560,172 shares were traded during trading, an increase of 25% from the average session volume of 2,837,240 shares. The stock had previously closed at $2.09.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on UP. Weiss Ratings reissued a "sell (d-)" rating on shares of Wheels Up Experience in a research report on Saturday, September 27th. Wall Street Zen upgraded Wheels Up Experience from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of "Sell".

Wheels Up Experience Price Performance

The business's 50-day simple moving average is $2.02 and its 200-day simple moving average is $1.51. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -4.05 and a beta of 2.32.

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

Insider Activity at Wheels Up Experience

In related news, insider Brian Joseph Kedzior sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $2.94, for a total value of $73,500.00. Following the sale, the insider directly owned 834,914 shares in the company, valued at $2,454,647.16. This trade represents a 2.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David Godsman sold 75,000 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $2.83, for a total value of $212,250.00. Following the sale, the insider directly owned 976,715 shares of the company's stock, valued at approximately $2,764,103.45. This represents a 7.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 224,907 shares of company stock valued at $617,064. Company insiders own 0.15% of the company's stock.

Hedge Funds Weigh In On Wheels Up Experience

A number of hedge funds have recently made changes to their positions in the business. Jane Street Group LLC acquired a new position in shares of Wheels Up Experience during the 2nd quarter worth approximately $795,000. Marshall Wace LLP acquired a new stake in Wheels Up Experience during the 2nd quarter worth approximately $222,000. Y Intercept Hong Kong Ltd acquired a new stake in Wheels Up Experience during the 2nd quarter valued at approximately $198,000. Brevan Howard Capital Management LP bought a new position in Wheels Up Experience during the second quarter worth $172,000. Finally, AQR Capital Management LLC bought a new position in shares of Wheels Up Experience in the first quarter valued at $156,000. Institutional investors and hedge funds own 98.20% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.