M&T Bank Corp Has $874,000 Stock Position in United Airlines Holdings, Inc. (NASDAQ:UAL)

M&T Bank Corp lessened its position in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 5.8% in the third quarter, Holdings Channel.com reports. The firm owned 15,303 shares of the transportation company’s stock after selling 942 shares during the period. M&T Bank Corp’s holdings in United Airlines were worth $874,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Huntington National Bank raised its holdings in United Airlines by 10.8% in the 3rd quarter. Huntington National Bank now owns 1,321 shares of the transportation company’s stock valued at $75,000 after acquiring an additional 129 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in United Airlines by 13.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,647 shares of the transportation company’s stock worth $94,000 after purchasing an additional 189 shares in the last quarter. Commerce Bank raised its holdings in United Airlines by 1.1% in the 3rd quarter. Commerce Bank now owns 17,620 shares of the transportation company’s stock valued at $1,005,000 after buying an additional 196 shares during the last quarter. Cromwell Holdings LLC boosted its position in United Airlines by 31.4% during the 3rd quarter. Cromwell Holdings LLC now owns 930 shares of the transportation company’s stock worth $53,000 after buying an additional 222 shares during the period. Finally, Wahed Invest LLC increased its stake in shares of United Airlines by 12.6% in the third quarter. Wahed Invest LLC now owns 1,998 shares of the transportation company’s stock valued at $114,000 after buying an additional 223 shares during the period. 69.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at United Airlines

In related news, EVP Torbjorn J. Enqvist sold 14,500 shares of the stock in a transaction 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 owns 30,427 shares of the company’s stock, valued at approximately $2,190,744. This trade represents a 32.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Linda P. Jojo sold 60,000 shares of United Airlines stock in a transaction 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 transaction, the executive vice president now owns 63,599 shares in the company, valued at approximately $6,049,536.88. The trade was a 48.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,000 shares of company stock valued at $8,158,900. Insiders own 0.63% of the company’s stock.

United Airlines Stock Performance

NASDAQ:UAL opened at $95.48 on Tuesday. The stock has a market cap of $31.40 billion, a P/E ratio of 11.52, a PEG ratio of 1.12 and a beta of 1.44. The company has a quick ratio of 0.72, a current ratio of 0.79 and a debt-to-equity ratio of 1.95. The business’s 50-day moving average price is $84.91 and its two-hundred day moving average price is $60.94. United Airlines Holdings, Inc. has a twelve month low of $37.02 and a twelve month high of $105.09.

United Airlines (NASDAQ:UAL) last announced its earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.23. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. The business 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 earnings per share. As a group, equities analysts predict that United Airlines Holdings, Inc. will post 10.27 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Dbs Bank upgraded United Airlines from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 26th. Citigroup boosted their target price on shares of United Airlines from $98.00 to $122.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Bank of America increased their price objective on United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 17th. TD Cowen increased their price target on United Airlines from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Barclays lifted 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, November 14th. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $98.95.

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.