Skye Global Management LP Buys New Stake in United Airlines Holdings, Inc. (NASDAQ:UAL)

Skye Global Management LP purchased a new stake in United Airlines Holdings, Inc. (NASDAQ:UAL) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 31,500 shares of the transportation company’s stock, valued at approximately $1,797,000.

Other large investors also recently bought and sold shares of the company. Global Trust Asset Management LLC purchased a new stake in shares of United Airlines in the 3rd quarter valued at about $29,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of United Airlines in the second quarter valued at approximately $30,000. Armstrong Advisory Group Inc. purchased a new position in shares of United Airlines during the third quarter worth approximately $36,000. UMB Bank n.a. increased its holdings in shares of United Airlines by 59.7% in the 2nd quarter. UMB Bank n.a. now owns 682 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 255 shares during the period. Finally, Blue Trust Inc. raised its position in United Airlines by 108.6% in the 3rd quarter. Blue Trust Inc. now owns 753 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 392 shares during the last quarter. 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 company’s 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Linda P. Jojo sold 60,000 shares of United Airlines stock in a transaction that occurred on Friday, November 22nd. The stock was 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 directly owns 63,599 shares of the company’s stock, valued at $6,049,536.88. The trade was a 48.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,000 shares of company stock worth $8,158,900 in the last ninety days. Insiders own 0.63% of the company’s stock.

United Airlines Price Performance

UAL stock opened at $96.35 on Friday. The company has a market cap of $31.69 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.14 and a beta of 1.39. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 1.95. The firm has a 50 day moving average of $74.95 and a 200-day moving average of $57.13. United Airlines Holdings, Inc. has a 12-month low of $37.02 and a 12-month high of $101.60.

United Airlines (NASDAQ:UAL) last posted 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. The company had revenue of $14.84 billion for the quarter, compared to analyst estimates of $14.76 billion. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. During the same quarter in the prior year, the company earned $3.65 earnings per share. As a group, equities analysts expect that United Airlines Holdings, Inc. will post 10.23 EPS for the current fiscal year.

United Airlines announced that its board has initiated a share repurchase plan on Tuesday, October 15th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the transportation company to repurchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have commented on UAL. Bank of America lifted their price objective on shares of United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Citigroup boosted their price target on United Airlines from $98.00 to $122.00 and gave the company a “buy” rating in a research report on Tuesday. 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, November 15th. Barclays upped their price target on United Airlines from $75.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, TD Cowen lifted their price objective on shares of United Airlines from $100.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.15.

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.