Concentric Capital Strategies LP Boosts Position in United Airlines Holdings, Inc. (NASDAQ:UAL)

Concentric Capital Strategies LP grew its holdings in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 174.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 162,533 shares of the transportation company’s stock after buying an additional 103,233 shares during the quarter. Concentric Capital Strategies LP’s holdings in United Airlines were worth $9,274,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Global Trust Asset Management LLC purchased a new position in shares of United Airlines in the third quarter valued at $29,000. Strategic Investment Solutions Inc. IL purchased a new position in United Airlines in the 2nd quarter valued at about $30,000. UMB Bank n.a. grew its stake in shares of United Airlines by 59.7% during the second quarter. UMB Bank n.a. now owns 682 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 255 shares in the last quarter. Armstrong Advisory Group Inc. purchased a new stake in shares of United Airlines during the third quarter worth about $36,000. Finally, Quest Partners LLC boosted its holdings in United Airlines by 3,504.8% in the second quarter. Quest Partners LLC now owns 757 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 736 shares during the last quarter. Institutional investors and hedge funds own 69.69% of the company’s stock.

United Airlines Stock Up 0.5 %

United Airlines stock opened at $96.83 on Monday. The firm has a market capitalization of $31.85 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.15 and a beta of 1.39. The company has a 50-day simple moving average of $75.84 and a 200-day simple moving average of $57.45. United Airlines Holdings, Inc. has a one year low of $37.02 and a one year high of $101.60. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.72 and a current ratio of 0.79.

United Airlines (NASDAQ:UAL) last announced its quarterly earnings results on Tuesday, October 15th. The transportation company reported $3.33 EPS for the quarter, beating the consensus estimate of $3.10 by $0.23. The company had revenue of $14.84 billion for the quarter, compared to analyst estimates of $14.76 billion. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. During the same quarter last year, the business earned $3.65 earnings per share. As a group, equities analysts expect that United Airlines Holdings, Inc. will post 10.23 earnings per share for the current year.

United Airlines declared that its board has initiated a share repurchase program on Tuesday, October 15th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the transportation company to repurchase up to 7.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other United Airlines news, EVP Torbjorn J. Enqvist sold 14,500 shares of the business’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $72.00, for a total transaction of $1,044,000.00. Following the sale, the executive vice president now directly owns 30,427 shares in the company, valued at approximately $2,190,744. The trade was a 32.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Linda P. Jojo sold 60,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $95.12, for a total transaction of $5,707,200.00. Following the completion of the transaction, the executive vice president now owns 63,599 shares of the company’s stock, valued at $6,049,536.88. This trade represents a 48.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,000 shares of company stock worth $8,158,900. 0.63% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Susquehanna upped their target price on United Airlines from $70.00 to $85.00 and gave the company a “positive” rating in a research report on Thursday, October 17th. Sanford C. Bernstein upped their price target on shares of United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. UBS Group reissued a “buy” rating and set a $139.00 price objective on shares of United Airlines in a report on Tuesday, November 26th. Jefferies Financial Group boosted their target price on shares of United Airlines from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Bank of America increased their price target on shares of United Airlines from $70.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $96.15.

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.