United Continental Holdings Inc (NASDAQ:UAL) Sees Large Decline in Short Interest

United Continental Holdings Inc (NASDAQ:UAL) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 13,890,000 shares, a drop of 17.9% from the September 30th total of 16,910,000 shares. Currently, 5.4% of the shares of the stock are short sold. Based on an average trading volume of 2,540,000 shares, the days-to-cover ratio is presently 5.5 days.

Shares of NASDAQ:UAL traded down $0.30 during trading on Wednesday, hitting $92.42. 1,863,300 shares of the company’s stock were exchanged, compared to its average volume of 2,774,902. United Continental has a 1-year low of $77.02 and a 1-year high of $97.85. The firm has a 50-day moving average price of $89.44 and a two-hundred day moving average price of $87.31. The company has a current ratio of 0.54, a quick ratio of 0.48 and a debt-to-equity ratio of 1.60. The firm has a market cap of $23.64 billion, a P/E ratio of 10.12, a PEG ratio of 0.38 and a beta of 1.18.

United Continental (NASDAQ:UAL) last issued its quarterly earnings results on Tuesday, October 15th. The transportation company reported $4.07 EPS for the quarter, topping the consensus estimate of $3.97 by $0.10. United Continental had a net margin of 6.60% and a return on equity of 30.06%. The company had revenue of $11.38 billion during the quarter, compared to analysts’ expectations of $11.43 billion. During the same quarter in the previous year, the company earned $3.06 EPS. United Continental’s revenue was up 3.4% on a year-over-year basis. As a group, research analysts predict that United Continental will post 11.96 EPS for the current year.

UAL has been the subject of several research reports. Berenberg Bank initiated coverage on shares of United Continental in a research report on Friday, September 6th. They issued a “hold” rating and a $95.00 price objective for the company. Credit Suisse Group raised their price objective on shares of United Continental from $117.00 to $118.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Buckingham Research raised their price objective on shares of United Continental from $111.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. BidaskClub upgraded shares of United Continental from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Citigroup initiated coverage on shares of United Continental in a research report on Thursday, October 31st. They issued a “buy” rating and a $107.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $103.69.

In other United Continental news, Director Carolyn Corvi sold 1,032 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $86.37, for a total value of $89,133.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 3,072 shares of company stock valued at $273,416 in the last 90 days. Corporate insiders own 0.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. North Star Investment Management Corp. acquired a new position in United Continental during the third quarter valued at approximately $34,000. HM Payson & Co. acquired a new position in United Continental during the second quarter valued at approximately $51,000. CSat Investment Advisory L.P. grew its holdings in United Continental by 218.4% during the second quarter. CSat Investment Advisory L.P. now owns 605 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 415 shares during the period. First Interstate Bank grew its holdings in United Continental by 40.5% during the second quarter. First Interstate Bank now owns 857 shares of the transportation company’s stock valued at $75,000 after purchasing an additional 247 shares during the period. Finally, Boston Partners acquired a new position in United Continental during the second quarter valued at approximately $91,000. Hedge funds and other institutional investors own 98.67% of the company’s stock.

United Continental Company Profile

United Continental Holdings, Inc, through its subsidiaries, provides air transportation services in North America, Asia, Europe, the Middle East, and Latin America. It transports people and cargo through its mainline and regional operations. As of December 31, 2018, the company operated a fleet of 1,329 aircraft.

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