Prudential PLC cut its stake in shares of United Airlines Holdings Inc (NASDAQ:UAL – Free Report) by 71.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,275 shares of the transportation company’s stock after selling 8,073 shares during the quarter. Prudential PLC’s holdings in United Airlines were worth $261,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in UAL. Alyeska Investment Group L.P. lifted its position in United Airlines by 86.4% during the 1st quarter. Alyeska Investment Group L.P. now owns 3,985,560 shares of the transportation company’s stock worth $275,203,000 after acquiring an additional 1,847,884 shares during the period. AQR Capital Management LLC raised its stake in shares of United Airlines by 334.6% in the first quarter. AQR Capital Management LLC now owns 1,793,454 shares of the transportation company’s stock worth $116,539,000 after purchasing an additional 1,380,804 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of United Airlines by 352.6% during the second quarter. Assetmark Inc. now owns 1,468,818 shares of the transportation company’s stock worth $116,962,000 after purchasing an additional 1,144,296 shares during the period. Caisse DE Depot ET Placement DU Quebec purchased a new stake in United Airlines in the first quarter valued at approximately $72,722,000. Finally, Invesco Ltd. boosted its position in United Airlines by 26.1% in the first quarter. Invesco Ltd. now owns 4,661,186 shares of the transportation company’s stock valued at $321,855,000 after buying an additional 964,388 shares during the last quarter. 69.69% of the stock is owned by institutional investors and hedge funds.
United Airlines Trading Up 3.7%
Shares of United Airlines stock opened at $95.62 on Tuesday. The firm has a 50-day simple moving average of $97.62 and a two-hundred day simple moving average of $91.47. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.61 and a current ratio of 0.67. United Airlines Holdings Inc has a fifty-two week low of $52.00 and a fifty-two week high of $116.00. The company has a market cap of $30.96 billion, a P/E ratio of 9.58, a price-to-earnings-growth ratio of 0.89 and a beta of 1.45.
Wall Street Analyst Weigh In
UAL has been the subject of several research reports. Cowen restated a “buy” rating on shares of United Airlines in a research note on Monday, October 20th. Barclays raised their target price on shares of United Airlines from $115.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Loop Capital set a $110.00 price target on shares of United Airlines in a report on Tuesday, October 21st. JPMorgan Chase & Co. lifted their price objective on United Airlines from $149.00 to $156.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Finally, Morgan Stanley restated an “overweight” rating and issued a $140.00 target price on shares of United Airlines in a research note on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, United Airlines currently has an average rating of “Buy” and an average target price of $125.38.
Get Our Latest Analysis on UAL
United Airlines Profile
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.
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