United Airlines Holdings, Inc. (NASDAQ:UAL) Stake Boosted by Forum Financial Management LP

Forum Financial Management LP grew its stake in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 5.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,575 shares of the transportation company’s stock after acquiring an additional 306 shares during the period. Forum Financial Management LP’s holdings in United Airlines were worth $318,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Global Trust Asset Management LLC purchased a new position in shares of United Airlines during the 3rd quarter valued at $29,000. Fidelis Capital Partners LLC acquired a new stake in shares of United Airlines in the 1st quarter valued at $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of United Airlines in the 2nd quarter valued at $30,000. Armstrong Advisory Group Inc. acquired a new stake in shares of United Airlines in the 3rd quarter valued at $36,000. Finally, Crewe Advisors LLC acquired a new stake in shares of United Airlines in the 1st quarter valued at $32,000. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

United Airlines Trading Down 4.0 %

Shares of NASDAQ UAL opened at $77.25 on Tuesday. The company’s 50 day simple moving average is $58.99 and its 200 day simple moving average is $52.26. United Airlines Holdings, Inc. has a fifty-two week low of $36.23 and a fifty-two week high of $81.35. The firm has a market capitalization of $25.41 billion, a P/E ratio of 9.32, a P/E/G ratio of 0.96 and a beta of 1.39. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.79 and a quick ratio of 0.72.

United Airlines (NASDAQ:UAL) last announced its quarterly earnings data on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.23. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. The business had revenue of $14.84 billion for the quarter, compared to analyst estimates of $14.76 billion. During the same period in the prior year, the business posted $3.65 earnings per share. On average, analysts predict that United Airlines Holdings, Inc. will post 10.18 EPS for the current year.

United Airlines announced that its board has authorized a stock buyback program on Tuesday, October 15th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the transportation company to repurchase up to 7.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other United Airlines news, EVP Torbjorn J. Enqvist sold 14,500 shares of the stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $72.00, for a total value of $1,044,000.00. Following the sale, the executive vice president now directly owns 30,427 shares in the company, valued at approximately $2,190,744. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.63% of the company’s stock.

Wall Street Analysts Forecast Growth

UAL has been the subject of several analyst reports. Barclays lifted their price objective on shares of United Airlines from $66.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Sanford C. Bernstein lifted their price objective on shares of United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Jefferies Financial Group boosted their target price on shares of United Airlines from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Susquehanna boosted their target price on shares of United Airlines from $70.00 to $85.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley boosted their target price on shares of United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, United Airlines has an average rating of “Moderate Buy” and a consensus price target of $78.94.

United Airlines Company Profile

United Airlines Holdings, Inc, through its subsidiaries, provides air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. The company transports people and cargo through its mainline and regional fleets. It also offers catering, ground handling, flight academy, and maintenance services for third parties.