Wheels Up Experience (NYSE:UP) Shares Down 5.5% – Should You Sell?

Wheels Up Experience Inc. (NYSE:UP) shares were down 5.5% on Friday . The company traded as low as $1.10 and last traded at $1.13. Approximately 884,125 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 1,004,498 shares. The stock had previously closed at $1.19.

Wheels Up Experience Stock Performance

The business has a 50 day simple moving average of $1.51 and a 200-day simple moving average of $1.89. The firm has a market capitalization of $771.18 million, a price-to-earnings ratio of -2.21 and a beta of 2.42.

Institutional Investors Weigh In On Wheels Up Experience

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

About Wheels Up Experience

Wheels Up Experience Inc provides private aviation services in the United States and internationally. The company offers membership programs consisting of Connect that offers members variable dynamic pricing on a per trip basis and flexibility on their schedule; Core for private flyers; and UP for Business for small and medium enterprise, and large corporate customers for whom it is primary provider of private flights, as well as supplementary solution to their own aircraft operations.