Wheels Up Experience (NYSE:UP – Get Free Report) posted its earnings results on Thursday. The company reported ($2.48) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $164.79 million for the quarter.
Wheels Up Experience Trading Down 7.0%
Shares of UP traded down $0.21 during midday trading on Thursday, reaching $2.85. 132,446 shares of the company were exchanged, compared to its average volume of 76,413. Wheels Up Experience has a 1-year low of $2.83 and a 1-year high of $29.33. The stock has a 50-day moving average price of $3.62 and a 200-day moving average price of $7.53. The company has a market cap of $103.58 million, a price-to-earnings ratio of -0.34 and a beta of 2.19.
Insider Activity
In other news, major shareholder Ck Wheels Llc sold 9,363 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $4.61, for a total value of $43,163.43. Following the completion of the sale, the insider owned 12,860,891 shares in the company, valued at approximately $59,288,707.51. This trade represents a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 14,644 shares of company stock valued at $70,792 in the last ninety days. 0.33% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Wheels Up Experience
Several hedge funds and other institutional investors have recently bought and sold shares of UP. J. Derek Lewis & Associates Inc. acquired a new stake in Wheels Up Experience in the third quarter valued at approximately $51,000. WNY Asset Management LLC acquired a new position in shares of Wheels Up Experience during the first quarter worth $39,000. Knighthead Capital Management LLC acquired a new position in shares of Wheels Up Experience during the first quarter worth $133,344,000. Cetera Investment Advisers lifted its position in shares of Wheels Up Experience by 34.1% during the first quarter. Cetera Investment Advisers now owns 179,603 shares of the company’s stock worth $93,000 after purchasing an additional 45,661 shares in the last quarter. Finally, Kore Advisors LP boosted its stake in shares of Wheels Up Experience by 0.6% in the first quarter. Kore Advisors LP now owns 15,194,884 shares of the company’s stock valued at $7,848,000 after purchasing an additional 94,176 shares during the period. 98.20% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Wheels Up Experience in a research note on Thursday, August 27th. Wall Street Zen lowered shares of Wheels Up Experience from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Wheels Up Experience presently has a consensus rating of “Sell”.
Get Our Latest Stock Analysis on Wheels Up Experience
Wheels Up Experience Company Profile
Wheels Up Experience Inc is an aviation company that provides private air travel services in the United States and select international markets. Through its Wheels Up brand, the company offers private jet and turboprop flights for individuals, families, businesses and other organizations.
The company’s services include private aviation memberships, on-demand charter flights and aircraft management. Members and charter customers can arrange flights through Wheels Up’s digital platform and service network, while aircraft owners can engage the company to manage the operation, staffing, maintenance and scheduling of their aircraft.
Wheels Up was founded in 2013 and expanded its platform through acquisitions and strategic relationships, including its 2019 acquisition of Delta Private Jets.
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