United Airlines Holdings, Inc. (NASDAQ:UAL) Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. grew its holdings in United Airlines Holdings, Inc. (NASDAQ:UAL) by 293.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,122 shares of the transportation company’s stock after buying an additional 37,389 shares during the period. Edgestream Partners L.P.’s holdings in United Airlines were worth $2,860,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of UAL. Castle Hook Partners LP grew its holdings in shares of United Airlines by 176.1% in 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 purchasing an additional 2,707,442 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of 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 grew 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 during the period. Rubric Capital Management LP purchased a new stake in shares of United Airlines in the third quarter valued at about $63,486,000. Finally, Sanders Capital LLC boosted its stake in United Airlines by 12.4% during the third quarter. Sanders Capital LLC now owns 9,457,587 shares of the transportation company’s stock worth $539,650,000 after buying an additional 1,040,589 shares during the period. 69.69% of the stock is currently owned by institutional investors and hedge funds.

United Airlines Stock Up 0.5 %

Shares of NASDAQ:UAL opened at $96.83 on Monday. The company has a market capitalization of $31.85 billion, a PE ratio of 11.68, a P/E/G 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. United Airlines Holdings, Inc. has a twelve month low of $37.02 and a twelve month high of $101.60. The firm has a 50 day simple moving average of $75.84 and a 200-day simple moving average of $57.45.

United Airlines (NASDAQ:UAL) last issued its quarterly earnings data on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, topping 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 net margin of 4.94% and a return on equity of 30.72%. During the same quarter in the previous year, the firm earned $3.65 EPS. On average, equities analysts predict that United Airlines Holdings, Inc. will post 10.23 EPS for the current fiscal year.

United Airlines declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 15th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the transportation company to repurchase up to 7.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have weighed in on UAL. Jefferies Financial Group increased their target price on shares of United Airlines from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. 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 increased their target price on shares of United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. TD Cowen increased their target price on shares of United Airlines from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Citigroup increased their target price on shares of United Airlines from $98.00 to $122.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $96.15.

Insider Transactions at United Airlines

In related news, EVP Torbjorn J. Enqvist sold 14,500 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $72.00, for a total value of $1,044,000.00. Following the completion of the sale, the executive vice president now owns 30,427 shares in the company, valued at $2,190,744. This represents a 32.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction 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 trade represents a 30.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,000 shares of company stock worth $8,158,900. 0.63% of the stock is currently 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.