Wheels Up Experience Sees Unusually High Options Volume (NYSE:UP)

Key Points

• Wheels Up Experience saw a significant increase in call options trading, with 12,911 options purchased, marking a 2,931% increase compared to its average volume of 426 call options.
• The company's stock rose 10.4% on Monday, closing at $2.3950, with a much higher trading volume of 4,922,160 shares compared to its usual 1,313,713 shares.
• Recent insider activity included CAO Alexander Chatkewitz selling 23,959 shares, reducing their ownership by 4.51%, while institutional investors hold 98.20% of the company's stock.

Wheels Up Experience Inc. (NYSE:UP - Get Free Report) was the target of some unusual options trading on Monday. Stock traders purchased 12,911 call options on the company. Thisisanincreaseofapproximately2,931% compared to the average volume of 426 call options.

Wheels Up Experience Stock Up 10.4%

UP stock traded up $0.2250 on Monday, reaching $2.3950. 4,922,160 shares of the company's stock were exchanged, compared to its average volume of 1,313,713. The stock has a fifty day moving average of $1.44 and a 200-day moving average of $1.29. The firm has a market cap of $1.67 billion, a PE ratio of -5.10 and a beta of 2.33. Wheels Up Experience has a twelve month low of $0.74 and a twelve month high of $2.78.

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

Analysts Set New Price Targets

Separately, Wall Street Zen raised Wheels Up Experience from a "sell" rating to a "hold" rating in a report on Saturday, July 5th.

Insider Activity

In other news, CAO Alexander Chatkewitz sold 23,959 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $1.46, for a total value of $34,980.14. Following the transaction, the chief accounting officer owned 507,462 shares of the company's stock, valued at approximately $740,894.52. The trade was a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.15% of the company's stock.

Institutional Trading of Wheels Up Experience

A number of institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in Wheels Up Experience by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,978,652 shares of the company's stock worth $3,266,000 after purchasing an additional 13,372 shares in the last quarter. Northern Trust Corp increased 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 in the last quarter. First Trust Advisors LP purchased a new position in shares of Wheels Up Experience during the 4th quarter worth approximately $1,264,000. Jane Street Group LLC purchased a new position in shares of Wheels Up Experience during the 2nd quarter worth approximately $795,000. Finally, Marshall Wace LLP purchased a new position in shares of Wheels Up Experience during the 2nd quarter worth approximately $222,000. 98.20% of the stock is currently 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.

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