United Airlines Holdings, Inc. (NASDAQ:UAL) Shares Purchased by Concentric Capital Strategies LP

Concentric Capital Strategies LP grew its stake in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 174.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 162,533 shares of the transportation company’s stock after acquiring an additional 103,233 shares during the period. Concentric Capital Strategies LP’s holdings in United Airlines were worth $9,274,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Castle Hook Partners LP raised its holdings in shares of United Airlines by 176.1% during the third quarter. Castle Hook Partners LP now owns 4,245,120 shares of the transportation company’s stock valued at $242,227,000 after acquiring an additional 2,707,442 shares during the period. Point72 Asset Management L.P. raised its stake in United Airlines by 489.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,295,246 shares of the transportation company’s stock valued at $111,687,000 after purchasing an additional 1,905,664 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of United Airlines by 29.1% in the second quarter. Dimensional Fund Advisors LP now owns 5,601,425 shares of the transportation company’s stock valued at $272,559,000 after purchasing an additional 1,263,604 shares in the last quarter. Rubric Capital Management LP acquired a new stake in shares of United Airlines in the third quarter worth $63,486,000. Finally, Sanders Capital LLC grew its holdings 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 buying an additional 1,040,589 shares in the last quarter. 69.69% of the stock is owned by institutional investors.

United Airlines Price Performance

Shares of United Airlines stock opened at $96.83 on Monday. United Airlines Holdings, Inc. has a 1-year low of $37.02 and a 1-year high of $101.60. The firm has a fifty day simple moving average of $75.84 and a 200-day simple moving average of $57.45. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 1.95. The stock has a market capitalization of $31.85 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.15 and a beta of 1.39.

United Airlines (NASDAQ:UAL) last released its quarterly earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.23. The company had revenue of $14.84 billion during the quarter, compared to analysts’ expectations of $14.76 billion. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. During the same period in the prior year, the company earned $3.65 earnings per share. On average, sell-side analysts expect that United Airlines Holdings, Inc. will post 10.23 earnings per share for the current year.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Morgan Stanley raised their price objective on United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Citigroup raised their price target on shares of United Airlines from $98.00 to $122.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. The Goldman Sachs Group reiterated a “buy” rating and issued a $119.00 price objective on shares of United Airlines in a research note on Friday, November 15th. Sanford C. Bernstein lifted their target price 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. Finally, Bank of America upped their price target on shares of United Airlines from $70.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $96.15.

Insider Buying and Selling at United Airlines

In related 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 value 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 trade represents a 30.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Linda P. Jojo sold 60,000 shares of the business’s stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders have sold 92,000 shares of company stock valued at $8,158,900 in the last 90 days. 0.63% of the stock is currently owned by insiders.

United Airlines 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.