Avala Global LP Invests $31.08 Million in United Airlines Holdings, Inc. (NASDAQ:UAL)

Avala Global LP bought a new position in United Airlines Holdings, Inc. (NASDAQ:UAL) in the 3rd quarter, Holdings Channel reports. The firm bought 544,600 shares of the transportation company’s stock, valued at approximately $31,075,000. United Airlines comprises about 2.0% of Avala Global LP’s portfolio, making the stock its 23rd largest holding.

Several other institutional investors also recently added to or reduced their stakes in the stock. Huntington National Bank increased its stake in United Airlines by 10.8% in the 3rd quarter. Huntington National Bank now owns 1,321 shares of the transportation company’s stock worth $75,000 after buying an additional 129 shares during the period. Farther Finance Advisors LLC increased its stake in United Airlines by 13.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,647 shares of the transportation company’s stock worth $94,000 after buying an additional 189 shares during the period. Commerce Bank increased its stake in United Airlines by 1.1% in the 3rd quarter. Commerce Bank now owns 17,620 shares of the transportation company’s stock worth $1,005,000 after buying an additional 196 shares during the period. Cromwell Holdings LLC increased its stake in United Airlines by 31.4% in the 3rd quarter. Cromwell Holdings LLC now owns 930 shares of the transportation company’s stock worth $53,000 after buying an additional 222 shares during the period. Finally, Mather Group LLC. increased its position in United Airlines by 26.6% during the 2nd quarter. Mather Group LLC. now owns 1,174 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 247 shares during the period. Hedge funds and other institutional investors own 69.69% of the company’s stock.

United Airlines Stock Up 0.5 %

UAL stock opened at $96.83 on Monday. The firm has a 50 day moving average of $75.84 and a 200 day moving average of $57.45. The stock has a market capitalization of $31.85 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 1.15 and a beta of 1.39. The company has a quick ratio of 0.72, a current ratio of 0.79 and a debt-to-equity ratio of 1.95. United Airlines Holdings, Inc. has a 52 week low of $37.02 and a 52 week high of $101.60.

United Airlines (NASDAQ:UAL) last released its earnings results on Tuesday, October 15th. The transportation company reported $3.33 EPS 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 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 last year, the business earned $3.65 EPS. Sell-side analysts forecast that United Airlines Holdings, Inc. will post 10.23 earnings per share for the current year.

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

Insider Buying and Selling

In other United Airlines 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 completion of the sale, the executive vice president now directly owns 63,599 shares in the company, valued at approximately $6,049,536.88. The trade was a 48.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Kate Gebo sold 17,500 shares of United Airlines 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 sale, the executive vice president now owns 40,012 shares of the company’s stock, valued at approximately $3,218,565.28. The trade was a 30.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,000 shares of company stock worth $8,158,900 in the last three months. Corporate insiders own 0.63% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on UAL shares. UBS Group reissued a “buy” rating and set a $139.00 target price on shares of United Airlines in a research report on Tuesday, November 26th. Sanford C. Bernstein raised their target price on shares of United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Bank of America raised 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. Jefferies Financial Group raised their target price on shares of United Airlines from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, TD Cowen raised their target price on shares of United Airlines from $100.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $96.15.

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.