Public Sector Pension Investment Board Buys 1,600 Shares of United Airlines Holdings, Inc. (NASDAQ:UAL)

Public Sector Pension Investment Board lifted its stake in United Airlines Holdings, Inc. (NASDAQ:UAL) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 57,322 shares of the transportation company’s stock after buying an additional 1,600 shares during the period. Public Sector Pension Investment Board’s holdings in United Airlines were worth $3,271,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. 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. Rubric Capital Management LP bought a new position in shares of United Airlines during the 3rd quarter worth about $63,486,000. Sanders Capital LLC boosted its position in shares of United Airlines by 12.4% during the 3rd quarter. Sanders Capital LLC now owns 9,457,587 shares of the transportation company’s stock valued at $539,650,000 after acquiring an additional 1,040,589 shares in the last quarter. Brooklyn Investment Group bought a new stake in United Airlines in the third quarter valued at about $115,000. Finally, Qsemble Capital Management LP raised its position in United Airlines by 5.0% in the third quarter. Qsemble Capital Management LP now owns 20,681 shares of the transportation company’s stock worth $1,180,000 after purchasing an additional 994 shares in the last quarter. 69.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

UAL has been the topic of several analyst reports. Bank of America upped their price objective on United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Barclays upped their price target on United Airlines from $75.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. TD Cowen lifted their price objective on United Airlines from $100.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Sanford C. Bernstein upped their target price on shares of United Airlines from $68.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Morgan Stanley lifted their price target on shares of United Airlines from $80.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $96.15.

Insider Activity at United Airlines

In related news, EVP Linda P. Jojo sold 60,000 shares of United Airlines stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $95.12, for a total transaction of $5,707,200.00. Following the transaction, the executive vice president now owns 63,599 shares of the company’s stock, valued at $6,049,536.88. This trade represents a 48.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kate Gebo sold 17,500 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $80.44, for a total transaction of $1,407,700.00. Following the completion of the sale, the executive vice president now directly owns 40,012 shares of the company’s stock, valued at $3,218,565.28. The trade was a 30.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,000 shares of company stock worth $8,158,900 over the last ninety days. Company insiders own 0.63% of the company’s stock.

United Airlines Stock Performance

Shares of United Airlines stock opened at $95.79 on Wednesday. The firm has a 50 day simple moving average of $77.59 and a 200 day simple moving average of $58.04. United Airlines Holdings, Inc. has a fifty-two week low of $37.02 and a fifty-two week high of $101.60. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.79 and a quick ratio of 0.72. The firm has a market cap of $31.50 billion, a P/E ratio of 11.55, a P/E/G ratio of 1.15 and a beta of 1.44.

United Airlines (NASDAQ:UAL) last released its earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. The company had revenue of $14.84 billion during the quarter, compared to the consensus estimate of $14.76 billion. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. During the same quarter in the previous year, the company posted $3.65 earnings per share. Sell-side analysts predict that United Airlines Holdings, Inc. will post 10.23 earnings per share for the current fiscal year.

United Airlines announced that its board has approved a share buyback plan on Tuesday, October 15th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the transportation company to buy up to 7.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership 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.