USA Financial Formulas Takes Position in United Airlines Holdings, Inc. (NASDAQ:UAL)

USA Financial Formulas acquired a new position in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 9,506 shares of the transportation company’s stock, valued at approximately $923,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp boosted its position in shares of United Airlines by 0.8% during the 3rd quarter. State Street Corp now owns 10,320,253 shares of the transportation company’s stock valued at $588,874,000 after acquiring an additional 78,470 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in United Airlines by 41.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,112,583 shares of the transportation company’s stock valued at $177,604,000 after purchasing an additional 908,558 shares during the last quarter. MidWestOne Financial Group Inc. grew its stake in shares of United Airlines by 28.0% in the 3rd quarter. MidWestOne Financial Group Inc. now owns 53,704 shares of the transportation company’s stock valued at $3,064,000 after buying an additional 11,743 shares during the period. Aigen Investment Management LP increased its holdings in shares of United Airlines by 87.2% during the 3rd quarter. Aigen Investment Management LP now owns 18,912 shares of the transportation company’s stock worth $1,079,000 after buying an additional 8,808 shares during the last quarter. Finally, Edgestream Partners L.P. raised its position in shares of United Airlines by 293.6% during the 3rd quarter. Edgestream Partners L.P. now owns 50,122 shares of the transportation company’s stock valued at $2,860,000 after buying an additional 37,389 shares during the period. Institutional investors and hedge funds own 69.69% of the company’s stock.

Insider Buying and Selling at United Airlines

In other news, EVP Kate Gebo sold 17,500 shares of the stock in a transaction dated 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 owns 40,012 shares in the company, valued at approximately $3,218,565.28. This represents a 30.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Linda P. Jojo sold 60,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $95.12, for a total value of $5,707,200.00. Following the transaction, the executive vice president now directly owns 63,599 shares in the company, valued at approximately $6,049,536.88. This represents a 48.54 % decrease in their position. The disclosure for this sale can be found here. 0.63% of the stock is owned by company insiders.

United Airlines Price Performance

Shares of NASDAQ:UAL opened at $104.99 on Thursday. 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 Holdings, Inc. has a 12 month low of $37.02 and a 12 month high of $110.92. The firm has a market capitalization of $34.53 billion, a P/E ratio of 12.66, a P/E/G ratio of 0.98 and a beta of 1.44. The company’s fifty day moving average price is $96.57 and its 200 day moving average price is $68.16.

United Airlines (NASDAQ:UAL) last posted its earnings results 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. The business 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 period in the previous year, the business earned $3.65 EPS. As a group, sell-side analysts predict that United Airlines Holdings, Inc. will post 10.32 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

Several research firms have issued reports on UAL. Raymond James raised their target price on United Airlines from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, December 30th. Bank of America upped their target price on shares of United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Melius Research upgraded shares of United Airlines to a “strong-buy” rating in a research report on Monday, December 2nd. Susquehanna raised their price target on United Airlines from $85.00 to $120.00 and gave the stock a “positive” rating in a research report on Tuesday, January 7th. Finally, Sanford C. Bernstein boosted their price objective on United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $106.45.

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.