Wheels Up Experience (NYSE:UP) Shares Down 5.5% – Here’s Why

Wheels Up Experience Inc. (NYSE:UP)’s share price dropped 5.5% during trading on Monday . The stock traded as low as $1.70 and last traded at $1.71. Approximately 475,454 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 1,035,360 shares. The stock had previously closed at $1.81.

Wheels Up Experience Stock Performance

The firm has a market cap of $1.20 billion, a PE ratio of -3.44 and a beta of 2.32. The business has a 50 day simple moving average of $2.12 and a two-hundred day simple moving average of $2.25. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 238.01.

Insider Transactions at Wheels Up Experience

In related news, Director Donald Lee Moak sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $2.50, for a total value of $50,000.00. Following the completion of the sale, the director now owns 130,231 shares in the company, valued at approximately $325,577.50. The trade was a 13.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of Wheels Up Experience by 1,399.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 264,377 shares of the company’s stock worth $500,000 after buying an additional 246,742 shares during the period. CIBC Asset Management Inc bought a new stake in shares of Wheels Up Experience in the second quarter valued at about $37,000. Rhumbline Advisers lifted its stake in Wheels Up Experience by 15,329.7% in the second quarter. Rhumbline Advisers now owns 87,332 shares of the company’s stock worth $165,000 after acquiring an additional 86,766 shares during the period. Renaissance Technologies LLC bought a new position in Wheels Up Experience during the 2nd quarter worth about $28,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Wheels Up Experience by 44.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 117,772 shares of the company’s stock worth $223,000 after acquiring an additional 36,201 shares in the last quarter. 98.20% of the stock is currently owned by hedge funds and other institutional investors.

About Wheels Up Experience

Wheels Up Experience Inc provides private aviation services in the United States and internationally. The company offers membership programs consisting of Connect that offers members variable dynamic pricing on a per trip basis and flexibility on their schedule; Core for private flyers; and UP for Business for small and medium enterprise, and large corporate customers for whom it is primary provider of private flights, as well as supplementary solution to their own aircraft operations.