Sheaff Brock Investment Advisors LLC Takes Position in United Airlines Holdings, Inc. (NASDAQ:UAL)

Sheaff Brock Investment Advisors LLC acquired a new stake in United Airlines Holdings, Inc. (NASDAQ:UAL) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,800 shares of the transportation company’s stock, valued at approximately $217,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. CIBC Asset Management Inc increased its stake in United Airlines by 8.5% during the 3rd quarter. CIBC Asset Management Inc now owns 47,956 shares of the transportation company’s stock worth $2,736,000 after buying an additional 3,748 shares during the period. Huntington National Bank increased its position in shares of United Airlines by 10.8% during the third quarter. Huntington National Bank now owns 1,321 shares of the transportation company’s stock worth $75,000 after acquiring an additional 129 shares during the period. Aigen Investment Management LP increased its position in shares of United Airlines by 87.2% during the third quarter. Aigen Investment Management LP now owns 18,912 shares of the transportation company’s stock worth $1,079,000 after acquiring an additional 8,808 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of United Airlines by 6.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 35,901 shares of the transportation company’s stock valued at $2,049,000 after acquiring an additional 2,065 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in United Airlines by 91.6% in the third quarter. GSA Capital Partners LLP now owns 20,961 shares of the transportation company’s stock valued at $1,196,000 after purchasing an additional 10,019 shares during the period. Hedge funds and other institutional investors own 69.69% of the company’s stock.

United Airlines Price Performance

UAL stock opened at $91.17 on Friday. The business has a 50 day simple moving average of $66.95 and a 200-day simple moving average of $54.48. The company has a market capitalization of $29.98 billion, a P/E ratio of 11.00, a PEG ratio of 1.08 and a beta of 1.39. United Airlines Holdings, Inc. has a twelve month low of $37.02 and a twelve month high of $93.33. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 1.95.

United Airlines (NASDAQ:UAL) last issued its quarterly earnings data on Tuesday, October 15th. The transportation company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.23. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. The company had revenue of $14.84 billion for the quarter, compared to the consensus estimate of $14.76 billion. During the same period last year, the firm posted $3.65 EPS. As a group, equities analysts anticipate that United Airlines Holdings, Inc. will post 10.23 EPS for the current year.

United Airlines announced that its Board of Directors has authorized 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 a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at United Airlines

In other news, EVP Kate Gebo sold 17,500 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was 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 in the company, valued at $3,218,565.28. This represents a 30.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $72.00, for a total value of $1,044,000.00. Following the sale, the executive vice president now directly owns 30,427 shares of the company’s stock, valued at approximately $2,190,744. This 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 owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on UAL. Bank of America increased their price target on United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Morgan Stanley raised their target price on shares of United Airlines from $80.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Jefferies Financial Group boosted their price target on shares of United Airlines from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Susquehanna raised their price objective on shares of United Airlines from $70.00 to $85.00 and gave the company a “positive” rating in a report on Thursday, October 17th. Finally, Barclays boosted their target price on shares of United Airlines from $75.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, United Airlines presently has an average rating of “Moderate Buy” and a consensus target price of $86.61.

United Airlines 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.