Knighthead Capital Management LLC bought a new position in shares of Wheels Up Experience Inc. (NYSE:UP – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 258,169,208 shares of the company’s stock, valued at approximately $133,344,000. Wheels Up Experience comprises about 8.8% of Knighthead Capital Management LLC’s holdings, making the stock its 2nd largest position. Knighthead Capital Management LLC owned 7.13% of Wheels Up Experience at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of UP. Kore Advisors LP boosted its position in Wheels Up Experience by 0.6% during the first quarter. Kore Advisors LP now owns 15,194,884 shares of the company’s stock valued at $7,848,000 after acquiring an additional 94,176 shares during the last quarter. Cetera Investment Advisers bought a new position in shares of Wheels Up Experience in the 2nd quarter worth about $78,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Wheels Up Experience in the 2nd quarter worth about $73,000. Beck Mack & Oliver LLC acquired a new position in shares of Wheels Up Experience in the 2nd quarter valued at about $27,000. Finally, Hudson Bay Capital Management LP bought a new stake in shares of Wheels Up Experience during the 2nd quarter valued at about $25,000. Institutional investors and hedge funds own 98.20% of the company’s stock.
Insider Transactions at Wheels Up Experience
In related news, major shareholder Ck Wheels Llc sold 27,524 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $8.05, for a total value of $221,568.20. Following the completion of the sale, the insider directly owned 12,870,354 shares of the company’s stock, valued at $103,606,349.70. The trade was a 0.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO George N. Mattson purchased 10,029 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average cost of $5.13 per share, for a total transaction of $51,448.77. Following the completion of the purchase, the chief executive officer owned 26,316 shares in the company, valued at $135,001.08. This trade represents a 61.58% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders purchased 27,791 shares of company stock valued at $146,206 and sold 43,027 shares valued at $335,159. Insiders own 0.33% of the company’s stock.
Wheels Up Experience Trading Down 0.6%
Wheels Up Experience (NYSE:UP – Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($2.29) earnings per share for the quarter. The firm had revenue of $168.92 million for the quarter.
Analyst Upgrades and Downgrades
UP has been the subject of several recent analyst reports. Wall Street Zen cut Wheels Up Experience from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Wheels Up Experience in a research note on Monday, June 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.
View Our Latest Analysis on Wheels Up Experience
Wheels Up Experience Company Profile
Wheels Up Experience Inc is a membership-driven private aviation company that provides on-demand charter flights and flight card services to corporate clients and high-net-worth individuals. The company operates a combination of owned and managed aircraft, including turboprops and light to midsize jets, and supplements its fleet through a network of partner operators. Its digital platform allows members to book flights, manage itineraries and access empty-leg opportunities with real-time pricing and availability.
Through tiered membership programs, Wheels Up offers flexible access to private air travel without the long-term commitments typically associated with fractional ownership.
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