Appian Way Asset Management LP Acquires 45,854 Shares of United Airlines Holdings, Inc. (NASDAQ:UAL)

Appian Way Asset Management LP boosted its holdings in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 19.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 282,406 shares of the transportation company’s stock after acquiring an additional 45,854 shares during the quarter. United Airlines comprises 3.6% of Appian Way Asset Management LP’s holdings, making the stock its 8th largest holding. Appian Way Asset Management LP owned approximately 0.09% of United Airlines worth $16,114,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UAL. Castle Hook Partners LP lifted its holdings in shares of United Airlines by 176.1% in the 3rd quarter. Castle Hook Partners LP now owns 4,245,120 shares of the transportation company’s stock worth $242,227,000 after acquiring an additional 2,707,442 shares during the last quarter. Point72 Asset Management L.P. raised its position in United Airlines by 489.2% in the second 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 stake in United Airlines by 29.1% during the second quarter. Dimensional Fund Advisors LP now owns 5,601,425 shares of the transportation company’s stock worth $272,559,000 after purchasing an additional 1,263,604 shares in the last quarter. Rubric Capital Management LP purchased a new position in shares of United Airlines during the third quarter worth $63,486,000. Finally, Sanders Capital LLC grew its stake in shares of United Airlines by 12.4% in 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. Hedge funds and other institutional investors own 69.69% of the company’s stock.

United Airlines Price Performance

Shares of NASDAQ UAL opened at $96.83 on Friday. The stock’s 50-day simple moving average is $75.84 and its 200-day simple moving average is $57.42. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.72 and a current ratio of 0.79. The firm has a market capitalization of $31.85 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 1.14 and a beta of 1.39. United Airlines Holdings, Inc. has a fifty-two week low of $37.02 and a fifty-two week high of $101.60.

United Airlines (NASDAQ:UAL) last issued its earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share (EPS) 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 business had revenue of $14.84 billion during the quarter, compared to analysts’ expectations of $14.76 billion. During the same quarter in the prior year, the business posted $3.65 EPS. As a group, equities research analysts forecast 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 permits the company to buyback $1.50 billion in shares. This buyback authorization permits the transportation company to purchase up to 7.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages recently commented on UAL. Citigroup raised their target price on United Airlines from $98.00 to $122.00 and gave the company a “buy” rating in a report on Tuesday. Barclays raised their price objective on shares of United Airlines from $75.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $119.00 target price on shares of United Airlines in a research note on Friday, November 15th. Morgan Stanley raised their price target on shares of United Airlines from $80.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Bank of America upped their price objective on United Airlines from $70.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $96.15.

Insider Buying and Selling

In related news, EVP Kate Gebo sold 17,500 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $80.44, for a total value of $1,407,700.00. Following the transaction, the executive vice president now owns 40,012 shares in the company, valued at $3,218,565.28. The trade was a 30.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Linda P. Jojo sold 60,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was 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 approximately $6,049,536.88. The trade was a 48.54 % 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 in the last quarter. 0.63% of the stock is owned by insiders.

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.