Meeder Asset Management Inc. Trims Stock Holdings in United Airlines Holdings, Inc. (NASDAQ:UAL)

Meeder Asset Management Inc. lessened its position in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 55.3% during the 3rd quarter, Holdings Channel reports. The firm owned 56,439 shares of the transportation company’s stock after selling 69,763 shares during the quarter. Meeder Asset Management Inc.’s holdings in United Airlines were worth $3,220,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. US Bancorp DE increased its holdings in United Airlines by 16.8% in the 1st quarter. US Bancorp DE now owns 11,425 shares of the transportation company’s stock worth $547,000 after buying an additional 1,641 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of United Airlines in the first quarter worth $261,000. Edgestream Partners L.P. purchased a new position in shares of United Airlines during the first quarter worth $314,000. UniSuper Management Pty Ltd lifted its position in United Airlines by 1,155.4% during the first quarter. UniSuper Management Pty Ltd now owns 20,363 shares of the transportation company’s stock valued at $975,000 after purchasing an additional 18,741 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in United Airlines by 47.4% in the first quarter. Bessemer Group Inc. now owns 5,471 shares of the transportation company’s stock valued at $261,000 after purchasing an additional 1,759 shares during the last quarter. 69.69% of the stock is owned by institutional investors and hedge funds.

United Airlines Stock Down 0.9 %

UAL opened at $90.38 on Tuesday. 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 Holdings, Inc. has a twelve month low of $37.02 and a twelve month high of $93.33. The company has a market cap of $29.72 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 1.08 and a beta of 1.39. The company has a 50-day moving average price of $67.78 and a 200 day moving average price of $54.77.

United Airlines (NASDAQ:UAL) last released its earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share 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 business had revenue of $14.84 billion for the quarter, compared to the consensus estimate of $14.76 billion. During the same quarter last year, the business posted $3.65 earnings per share. Sell-side analysts expect that United Airlines Holdings, Inc. will post 10.23 earnings per share for the current fiscal year.

United Airlines declared that its board has authorized a share repurchase program on Tuesday, October 15th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the transportation company to purchase up to 7.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on UAL shares. Bank of America lifted their price objective on United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Sanford C. Bernstein boosted their price target on United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Barclays raised their price objective on shares of United Airlines from $75.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. The Goldman Sachs Group reiterated a “buy” rating and issued a $119.00 target price on shares of United Airlines in a research note on Friday. Finally, Morgan Stanley raised their price target on shares of United Airlines from $80.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.61.

Insiders Place Their Bets

In other United Airlines news, EVP Kate Gebo sold 17,500 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $80.44, for a total value of $1,407,700.00. Following the completion of the sale, the executive vice president now directly owns 40,012 shares of the company’s stock, valued at $3,218,565.28. This trade represents a 30.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the executive vice president now directly owns 30,427 shares in the company, valued at approximately $2,190,744. The trade was a 32.27 % decrease in their position. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by corporate insiders.

United Airlines Company 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.