1,112,623 Shares in United Airlines Holdings, Inc. (NASDAQ:UAL) Acquired by Rubric Capital Management LP

Rubric Capital Management LP bought a new stake in United Airlines Holdings, Inc. (NASDAQ:UAL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,112,623 shares of the transportation company’s stock, valued at approximately $63,486,000. United Airlines accounts for 1.0% of Rubric Capital Management LP’s portfolio, making the stock its 24th biggest position.

Several other hedge funds also recently made changes to their positions in the business. Sanders Capital LLC increased its stake in United Airlines by 12.4% during the 3rd quarter. Sanders Capital LLC now owns 9,457,587 shares of the transportation company’s stock worth $539,650,000 after acquiring an additional 1,040,589 shares during the period. Brooklyn Investment Group bought a new stake in shares of United Airlines during the 3rd quarter worth $115,000. Qsemble Capital Management LP raised its stake in United Airlines by 5.0% during the third quarter. Qsemble Capital Management LP now owns 20,681 shares of the transportation company’s stock worth $1,180,000 after acquiring an additional 994 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of United Airlines by 8.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 20,022 shares of the transportation company’s stock valued at $1,142,000 after purchasing an additional 1,563 shares during the last quarter. Finally, Centaurus Financial Inc. increased its position in United Airlines by 33.0% during the 3rd quarter. Centaurus Financial Inc. now owns 6,188 shares of the transportation company’s stock worth $353,000 after purchasing an additional 1,534 shares in the last quarter. 69.69% of the stock is owned by institutional investors.

United Airlines Stock Down 0.3 %

UAL stock opened at $96.51 on Wednesday. United Airlines Holdings, Inc. has a 1-year low of $37.02 and a 1-year high of $101.60. The stock has a market cap of $31.74 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.15 and a beta of 1.39. 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 company’s 50 day moving average is $73.21 and its 200 day moving average is $56.57.

United Airlines (NASDAQ:UAL) last posted 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 firm had revenue of $14.84 billion for the quarter, compared to analysts’ expectations of $14.76 billion. During the same quarter last year, the company posted $3.65 EPS. Sell-side analysts predict that United Airlines Holdings, Inc. will post 10.23 EPS for the current fiscal year.

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

Analyst Ratings Changes

Several analysts have recently weighed in on UAL shares. Bank of America boosted their price target on United Airlines from $70.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Citigroup upped their target price on United Airlines from $98.00 to $122.00 and gave the stock a “buy” rating in a research report on Tuesday. Jefferies Financial Group raised their target price on United Airlines from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday, October 21st. Barclays lifted their target price on United Airlines from $75.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, Susquehanna increased their price objective on United Airlines from $70.00 to $85.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $96.15.

Insiders Place Their Bets

In other news, EVP Kate Gebo sold 17,500 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $3,218,565.28. This represents a 30.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of United Airlines stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $72.00, for a total transaction of $1,044,000.00. Following the completion of the transaction, the executive vice president now owns 30,427 shares in the company, valued at approximately $2,190,744. The trade was a 32.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,000 shares of company stock valued at $8,158,900 over the last 90 days. Insiders own 0.63% of the company’s stock.

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.