Wheels Up Experience (NYSE:UP) Hits New 12-Month Low – Here’s What Happened

Shares of Wheels Up Experience Inc. (NYSE:UP) reached a new 52-week low on Wednesday . The company traded as low as $0.95 and last traded at $0.96, with a volume of 92085 shares changing hands. The stock had previously closed at $0.98.

Wheels Up Experience Stock Down 1.9 %

The company has a 50-day moving average price of $1.30 and a two-hundred day moving average price of $1.79. The stock has a market capitalization of $670.14 million, a P/E ratio of -1.92 and a beta of 2.42.

Wheels Up Experience (NYSE:UP) last released its quarterly earnings results on Tuesday, March 11th. The company reported ($0.09) earnings per share for the quarter. The firm had revenue of $204.82 million for the quarter. Wheels Up Experience had a negative net margin of 39.97% and a negative return on equity of 796.67%.

Insiders Place Their Bets

In other Wheels Up Experience news, CEO of Air Partner Mark Briffa sold 28,717 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $1.06, for a total value of $30,440.02. Following the completion of the sale, the insider now directly owns 1,090,971 shares of the company’s stock, valued at $1,156,429.26. The trade was a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.13% of the stock is owned by insiders.

Institutional Trading of Wheels Up Experience

A number of institutional investors have recently modified their holdings of the company. First Trust Advisors LP purchased a new stake in Wheels Up Experience in the fourth quarter worth $1,264,000. Geode Capital Management LLC boosted its holdings in shares of Wheels Up Experience by 57.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,965,280 shares of the company’s stock valued at $4,757,000 after buying an additional 718,411 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Wheels Up Experience by 277.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 796,827 shares of the company’s stock worth $1,928,000 after buying an additional 585,589 shares during the period. State Street Corp increased its stake in shares of Wheels Up Experience by 41.9% in the 3rd quarter. State Street Corp now owns 1,322,891 shares of the company’s stock worth $3,201,000 after acquiring an additional 390,414 shares in the last quarter. Finally, Corient Private Wealth LLC bought a new stake in Wheels Up Experience during the fourth quarter worth about $339,000. 98.20% of the stock is currently owned by hedge funds and other institutional investors.

About Wheels Up Experience

Wheels Up Experience Inc provides private aviation services in the United States and internationally. The company offers Wheels Up Membership program that consists of two primary membership categories, such as Individual membership for individual and business fliers; and UP for Business membership consists of small and medium enterprise, and custom enterprise solutions for business fliers that tend to spend at higher levels.