Perigon Wealth Management LLC Buys Shares of 10,914 United Airlines Holdings, Inc. (NASDAQ:UAL)

Perigon Wealth Management LLC purchased a new position in United Airlines Holdings, Inc. (NASDAQ:UAL) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,914 shares of the transportation company’s stock, valued at approximately $1,158,000.

Other hedge funds have also recently made changes to their positions in the company. Global Trust Asset Management LLC purchased a new stake in shares of United Airlines during the 3rd quarter valued at $29,000. Strategic Investment Solutions Inc. IL acquired a new stake in United Airlines in the second quarter worth about $30,000. Armstrong Advisory Group Inc. acquired a new position in shares of United Airlines during the third quarter valued at about $36,000. Winch Advisory Services LLC purchased a new position in shares of United Airlines in the 4th quarter valued at approximately $38,000. Finally, Blue Trust Inc. boosted its stake in United Airlines by 108.6% in the 3rd quarter. Blue Trust Inc. now owns 753 shares of the transportation company’s stock worth $43,000 after purchasing an additional 392 shares in the last quarter. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

United Airlines Price Performance

NASDAQ:UAL opened at $109.40 on Friday. The stock has a market capitalization of $35.98 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. United Airlines Holdings, Inc. has a 52 week low of $37.02 and a 52 week high of $116.00. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 1.99. The stock’s 50-day moving average price is $100.23 and its 200-day moving average price is $72.59.

United Airlines (NASDAQ:UAL) last announced its earnings results on Tuesday, January 21st. The transportation company reported $3.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.96 by $0.30. The firm had revenue of $14.70 billion for the quarter, compared to analyst estimates of $14.40 billion. United Airlines had a return on equity of 32.26% and a net margin of 5.52%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.00 EPS. As a group, equities analysts expect that United Airlines Holdings, Inc. will post 12.7 EPS for the current fiscal year.

United Airlines declared that its board has authorized a share buyback 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 reacquire up to 7.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Melius Research raised shares of United Airlines to a “strong-buy” rating in a report on Monday, December 2nd. TD Cowen increased their price objective on United Airlines from $142.00 to $165.00 and gave the company a “buy” rating in a report on Friday, January 24th. Dbs Bank raised United Airlines from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 26th. Raymond James reiterated an “outperform” rating and issued a $130.00 price target (up previously from $120.00) on shares of United Airlines in a report on Thursday, January 23rd. Finally, Susquehanna lifted their price objective on shares of United Airlines from $85.00 to $120.00 and gave the company a “positive” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, United Airlines presently has an average rating of “Buy” and an average target price of $110.20.

Insider Buying and Selling

In related news, EVP Linda P. Jojo sold 60,000 shares of the company’s stock in a transaction dated 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 owns 63,599 shares of the company’s stock, valued at approximately $6,049,536.88. This represents a 48.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.