Kentucky Retirement Systems Insurance Trust Fund Sells 869 Shares of United Airlines Holdings, Inc. (NASDAQ:UAL)

Kentucky Retirement Systems Insurance Trust Fund lowered its holdings in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 8.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,736 shares of the transportation company’s stock after selling 869 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in United Airlines were worth $556,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Interval Partners LP acquired a new position in United Airlines during the first quarter worth $103,354,000. Point72 Asset Management L.P. boosted its stake in shares of United Airlines by 489.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,295,246 shares of the transportation company’s stock worth $111,687,000 after acquiring an additional 1,905,664 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of United Airlines by 29.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,601,425 shares of the transportation company’s stock valued at $272,559,000 after acquiring an additional 1,263,604 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of United Airlines by 177.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,324,398 shares of the transportation company’s stock valued at $75,570,000 after acquiring an additional 847,348 shares in the last quarter. Finally, Senator Investment Group LP acquired a new stake in United Airlines in the 1st quarter worth approximately $35,910,000. Institutional investors and hedge funds own 69.69% of the company’s stock.

Insider Activity at United Airlines

In other United Airlines news, EVP Kate Gebo sold 17,500 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $80.44, for a total value of $1,407,700.00. Following the transaction, the executive vice president now directly owns 40,012 shares in the company, valued at $3,218,565.28. The trade was a 30.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of the company’s stock in a transaction dated Thursday, October 17th. The stock was 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 $2,190,744. This represents a 32.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.63% of the stock is owned by insiders.

United Airlines Price Performance

NASDAQ:UAL opened at $90.38 on Tuesday. The company has a market capitalization of $29.72 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 1.08 and a beta of 1.39. The company has a 50-day moving average of $67.78 and a 200-day moving average of $54.77. United Airlines Holdings, Inc. has a 52 week low of $37.02 and a 52 week high of $93.33. 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 released its quarterly earnings data on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.23. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. The company had revenue of $14.84 billion for the quarter, compared to the consensus estimate of $14.76 billion. During the same period in the previous year, the business earned $3.65 earnings per share. As a group, equities research analysts anticipate that United Airlines Holdings, Inc. will post 10.23 earnings per share for the current fiscal year.

United Airlines declared that its Board of Directors has initiated a stock buyback program on Tuesday, October 15th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the transportation company to reacquire up to 7.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on UAL shares. Sanford C. Bernstein increased their price target on United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. TD Cowen raised their target price on shares of United Airlines from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Morgan Stanley boosted their target price on shares of United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Bank of America raised their price target on United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Barclays raised their target price on United Airlines from $75.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, United Airlines currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.61.

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.