Wheels Up Experience Sees Unusually Large 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 recipient of some unusual options trading activity on Monday. Investors acquired 12,911 call options on the company. Thisisanincreaseof2,931% compared to the typical daily volume of 426 call options.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Wheels Up Experience from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th.

Wheels Up Experience Trading Down 10.2%

UP traded down $0.34 on Friday, reaching $2.97. The company had a trading volume of 20,243,117 shares, compared to its average volume of 6,124,099. Wheels Up Experience has a one year low of $0.74 and a one year high of $3.50. The company has a fifty day moving average of $1.59 and a 200-day moving average of $1.34. The company has a market capitalization of $2.07 billion, a P/E ratio of -6.31 and a beta of 2.33.

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 Buying and Selling at Wheels Up Experience

In other news, Director Donald Lee Moak sold 43,166 shares of Wheels Up Experience stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $3.11, for a total transaction of $134,246.26. Following the sale, the director owned 180,431 shares in the company, valued at $561,140.41. This trade represents a 19.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Alexander Chatkewitz sold 23,959 shares of Wheels Up Experience stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $1.46, for a total transaction of $34,980.14. Following the sale, the chief accounting officer owned 507,462 shares in the company, valued at $740,894.52. This represents a 4.51% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 178,685 shares of company stock valued at $489,425. 0.15% of the stock is currently owned by corporate insiders.

Institutional Trading of Wheels Up Experience

Hedge funds have recently bought and sold shares of the company. Creative Planning purchased a new stake in Wheels Up Experience during the second quarter valued at about $25,000. Hudson Bay Capital Management LP bought a new position in Wheels Up Experience during the second quarter valued at approximately $25,000. Byrne Asset Management LLC bought a new position in Wheels Up Experience during the first quarter valued at approximately $27,000. CWM LLC grew its holdings in Wheels Up Experience by 77.0% during the second quarter. CWM LLC now owns 24,880 shares of the company's stock valued at $27,000 after purchasing an additional 10,827 shares during the last quarter. Finally, Beck Mack & Oliver LLC acquired a new position in Wheels Up Experience during the second quarter valued at approximately $27,000. 98.20% of the stock is owned by hedge funds and other institutional investors.

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.