United Airlines Holdings, Inc. (NASDAQ:UAL) Shares Sold by Mount Lucas Management LP

Mount Lucas Management LP lessened its holdings in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 53.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,491 shares of the transportation company’s stock after selling 54,341 shares during the period. United Airlines makes up approximately 0.9% of Mount Lucas Management LP’s portfolio, making the stock its 24th biggest holding. Mount Lucas Management LP’s holdings in United Airlines were worth $2,653,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of UAL. Interval Partners LP purchased a new position in shares of United Airlines in the 1st quarter valued at about $103,354,000. Point72 Asset Management L.P. increased its holdings in 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 buying an additional 1,905,664 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of United Airlines by 29.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,601,425 shares of the transportation company’s stock valued at $272,559,000 after acquiring an additional 1,263,604 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of United Airlines by 177.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,324,398 shares of the transportation company’s stock worth $75,570,000 after acquiring an additional 847,348 shares during the period. Finally, Senator Investment Group LP purchased a new position in United Airlines in the 1st quarter valued at approximately $35,910,000. Institutional investors and hedge funds own 69.69% of the company’s stock.

Insider Buying and Selling

In related news, EVP Kate Gebo sold 17,500 shares of the 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 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 represents a 30.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of United Airlines stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $72.00, for a total transaction of $1,044,000.00. Following the transaction, the executive vice president now directly owns 30,427 shares in the company, valued at approximately $2,190,744. This trade represents a 32.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by company insiders.

United Airlines Price Performance

Shares of NASDAQ:UAL opened at $91.17 on Friday. The company has a market cap of $29.98 billion, a P/E ratio of 11.00, a P/E/G ratio of 1.08 and a beta of 1.39. The business has a fifty day simple moving average of $66.95 and a 200-day simple moving average of $54.48. United Airlines Holdings, Inc. has a 52 week low of $37.02 and a 52 week high of $93.33. 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 (NASDAQ:UAL) last posted its quarterly earnings results on Tuesday, October 15th. The transportation company reported $3.33 EPS for the quarter, beating the consensus estimate of $3.10 by $0.23. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. The company had revenue of $14.84 billion during the quarter, compared to analysts’ expectations of $14.76 billion. During the same quarter in the previous year, the business earned $3.65 EPS. Equities research analysts forecast that United Airlines Holdings, Inc. will post 10.23 EPS for the current year.

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

Wall Street Analyst Weigh In

A number of research firms have commented on UAL. Jefferies Financial Group boosted their target price on United Airlines from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Barclays increased their price objective on shares of United Airlines from $75.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday. Sanford C. Bernstein lifted their target price on shares of United Airlines from $68.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Bank of America increased their price target 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. Finally, Susquehanna lifted their price objective on United Airlines from $70.00 to $85.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.61.

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.