Calamos Advisors LLC decreased its position in United Airlines Holdings, Inc. (NASDAQ:UAL – Free Report) by 70.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 180,006 shares of the transportation company’s stock after selling 437,500 shares during the quarter. Calamos Advisors LLC’s holdings in United Airlines were worth $17,479,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of UAL. State Street Corp boosted its holdings in United Airlines by 0.8% in the 3rd quarter. State Street Corp now owns 10,320,253 shares of the transportation company’s stock valued at $588,874,000 after purchasing an additional 78,470 shares during the period. Sanders Capital LLC increased its position in shares of United Airlines by 12.4% during the third quarter. Sanders Capital LLC now owns 9,457,587 shares of the transportation company’s stock valued at $539,650,000 after purchasing an additional 1,040,589 shares during the period. Geode Capital Management LLC raised its stake in shares of United Airlines by 2.1% in the third quarter. Geode Capital Management LLC now owns 8,311,220 shares of the transportation company’s stock valued at $477,526,000 after purchasing an additional 168,498 shares in the last quarter. Castle Hook Partners LP lifted its position in United Airlines by 176.1% in the third quarter. Castle Hook Partners LP now owns 4,245,120 shares of the transportation company’s stock worth $242,227,000 after purchasing an additional 2,707,442 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in United Airlines by 41.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,112,583 shares of the transportation company’s stock worth $177,604,000 after buying an additional 908,558 shares in the last quarter. 69.69% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
UAL has been the subject of a number of recent research reports. Bank of America increased their price objective on shares of United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Raymond James restated an “outperform” rating and set a $130.00 price target (up previously from $120.00) on shares of United Airlines in a research note on Thursday, January 23rd. JPMorgan Chase & Co. increased their target price on United Airlines from $108.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. Morgan Stanley boosted their price target on United Airlines from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Finally, Citigroup increased their price objective on United Airlines from $98.00 to $122.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, United Airlines currently has a consensus rating of “Buy” and an average price target of $110.20.
Insiders Place Their Bets
In other news, EVP Linda P. Jojo sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $95.12, for a total value of $5,707,200.00. Following the completion of the transaction, the executive vice president now owns 63,599 shares in the company, valued at $6,049,536.88. This represents a 48.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.63% of the company’s stock.
United Airlines Stock Performance
UAL stock opened at $104.83 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 1.99. United Airlines Holdings, Inc. has a twelve month low of $37.02 and a twelve month high of $116.00. The business’s fifty day moving average is $100.74 and its 200-day moving average is $73.64. The company has a market cap of $34.48 billion, a P/E ratio of 11.12, a price-to-earnings-growth ratio of 0.69 and a beta of 1.43.
United Airlines (NASDAQ:UAL – Get Free Report) last posted its earnings results on Tuesday, January 21st. The transportation company reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.30. United Airlines had a return on equity of 32.26% and a net margin of 5.52%. The company had revenue of $14.70 billion during the quarter, compared to analyst estimates of $14.40 billion. During the same period in the previous year, the company earned $2.00 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts forecast that United Airlines Holdings, Inc. will post 13.09 EPS for the current year.
United Airlines declared that its board has initiated a share buyback program on Tuesday, October 15th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the transportation company to reacquire up to 7.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
About United Airlines
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.
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