Highland Peak Capital LLC Purchases New Stake in United Airlines Holdings, Inc. (NASDAQ:UAL)

Highland Peak Capital LLC acquired a new position in United Airlines Holdings, Inc. (NASDAQ:UAL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 286,110 shares of the transportation company’s stock, valued at approximately $16,325,000. United Airlines accounts for about 7.1% of Highland Peak Capital LLC’s portfolio, making the stock its 4th largest position. Highland Peak Capital LLC owned 0.09% of United Airlines as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Landscape Capital Management L.L.C. lifted its stake in United Airlines by 190.6% in the third quarter. Landscape Capital Management L.L.C. now owns 106,645 shares of the transportation company’s stock valued at $6,085,000 after purchasing an additional 69,945 shares during the last quarter. Commerce Bank raised its stake in shares of United Airlines by 1.1% in the third quarter. Commerce Bank now owns 17,620 shares of the transportation company’s stock valued at $1,005,000 after buying an additional 196 shares during the period. Quest Partners LLC lifted its position in shares of United Airlines by 268.7% during the 3rd quarter. Quest Partners LLC now owns 2,791 shares of the transportation company’s stock valued at $159,000 after buying an additional 2,034 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of United Airlines by 1,464.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 207,603 shares of the transportation company’s stock worth $11,846,000 after acquiring an additional 194,337 shares during the period. Finally, Natixis Advisors LLC increased its holdings in United Airlines by 18.9% in the 3rd quarter. Natixis Advisors LLC now owns 85,680 shares of the transportation company’s stock worth $4,889,000 after acquiring an additional 13,642 shares during the last quarter. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

United Airlines Price Performance

UAL opened at $94.63 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 1.95. The stock has a market capitalization of $31.12 billion, a P/E ratio of 11.41, a PEG ratio of 1.12 and a beta of 1.39. The stock has a 50-day moving average price of $69.62 and a 200-day moving average price of $55.35. United Airlines Holdings, Inc. has a 12-month low of $37.02 and a 12-month high of $95.19.

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

United Airlines announced that its board has authorized a share buyback program on Tuesday, October 15th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the transportation company to purchase up to 7.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $119.00 price target on shares of United Airlines in a research report on Friday, November 15th. Jefferies Financial Group boosted their target price on shares of United Airlines from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday, October 21st. TD Cowen raised their price target on United Airlines from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday. Susquehanna lifted their price target on United Airlines from $70.00 to $85.00 and gave the company a “positive” rating in a research report on Thursday, October 17th. Finally, Barclays increased their price objective on United Airlines from $75.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, United Airlines currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.28.

Insider Buying and Selling

In related news, EVP Kate Gebo sold 17,500 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.44, for a total transaction of $1,407,700.00. Following the completion of the sale, the executive vice president now directly owns 40,012 shares in the company, valued at $3,218,565.28. This represents a 30.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 30,427 shares in the company, valued at approximately $2,190,744. This trade represents a 32.27 % decrease in their position. The disclosure for this sale can be found here. 0.63% of the stock is owned by corporate insiders.

United Airlines Company 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.