United Airlines Holdings, Inc. (NASDAQ:UAL) is Castle Hook Partners LP’s 6th Largest Position

Castle Hook Partners LP lifted its stake in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 176.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,245,120 shares of the transportation company’s stock after purchasing an additional 2,707,442 shares during the quarter. United Airlines comprises approximately 4.5% of Castle Hook Partners LP’s portfolio, making the stock its 6th biggest position. Castle Hook Partners LP owned about 1.29% of United Airlines worth $242,227,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in shares of United Airlines by 41.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,112,583 shares of the transportation company’s stock worth $177,604,000 after purchasing an additional 908,558 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in United Airlines by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,161,931 shares of the transportation company’s stock worth $55,634,000 after acquiring an additional 64,542 shares in the last quarter. Aigen Investment Management LP raised its position in United Airlines by 87.2% in 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 in the last quarter. Tidal Investments LLC raised its position in United Airlines by 16.4% in the first quarter. Tidal Investments LLC now owns 17,429 shares of the transportation company’s stock worth $835,000 after acquiring an additional 2,456 shares in the last quarter. Finally, Icon Wealth Advisors LLC raised its position in United Airlines by 1,886.6% in the third quarter. Icon Wealth Advisors LLC now owns 52,584 shares of the transportation company’s stock worth $3,000,000 after acquiring an additional 49,937 shares in the last quarter. Hedge funds and other institutional investors own 69.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on UAL shares. Morgan Stanley increased their price objective on United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Sanford C. Bernstein increased their price objective on United Airlines from $68.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. TD Cowen increased their price objective on United Airlines from $100.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Barclays increased their price objective on United Airlines from $75.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Finally, UBS Group reissued a “buy” rating and issued a $139.00 target price on shares of United Airlines in a report on Tuesday. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.15.

United Airlines Stock Performance

United Airlines stock opened at $96.35 on Thursday. The stock’s 50-day moving average is $74.07 and its 200-day moving average is $56.85. The company has a market cap of $31.69 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 1.15 and a beta of 1.39. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.79 and a quick ratio of 0.72. 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 released its quarterly earnings data on Tuesday, October 15th. The transportation company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. The company had revenue of $14.84 billion for the quarter, compared to the consensus estimate of $14.76 billion. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. During the same period last year, the business posted $3.65 EPS. Equities analysts anticipate that United Airlines Holdings, Inc. will post 10.23 earnings per share for the current year.

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

Insider Transactions at United Airlines

In related news, EVP Linda P. Jojo sold 60,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 63,599 shares in the company, valued at approximately $6,049,536.88. This trade represents a 48.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kate Gebo sold 17,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $80.44, for a total value of $1,407,700.00. Following the sale, the executive vice president now owns 40,012 shares in the company, valued at approximately $3,218,565.28. The trade was a 30.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,000 shares of company stock worth $8,158,900 in the last three months. 0.63% of the stock is currently owned by company insiders.

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.