Magnus Financial Group LLC Invests $354,000 in United Airlines Holdings, Inc. (NASDAQ:UAL)

Magnus Financial Group LLC bought a new stake in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) in the fourth quarter, Holdings Channel reports. The fund bought 3,642 shares of the transportation company’s stock, valued at approximately $354,000.

Several other hedge funds also recently added to or reduced their stakes in UAL. Sei Investments Co. boosted its stake in shares of United Airlines by 1.7% in the second quarter. Sei Investments Co. now owns 146,621 shares of the transportation company’s stock worth $7,135,000 after buying an additional 2,471 shares during the last quarter. ProShare Advisors LLC boosted its position in United Airlines by 99.1% in the 2nd quarter. ProShare Advisors LLC now owns 151,802 shares of the transportation company’s stock worth $7,387,000 after purchasing an additional 75,541 shares in the last quarter. Frank Rimerman Advisors LLC boosted its position in United Airlines by 148.2% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 5,881 shares of the transportation company’s stock worth $286,000 after purchasing an additional 3,512 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of United Airlines during the 2nd quarter worth approximately $9,026,000. Finally, Point72 Asset Management L.P. increased its holdings 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 valued at $111,687,000 after purchasing an additional 1,905,664 shares in the last quarter. 69.69% of the stock is owned by hedge funds and other institutional investors.

United Airlines Stock Performance

NASDAQ:UAL opened at $107.97 on Thursday. United Airlines Holdings, Inc. has a twelve month low of $37.02 and a twelve month high of $116.00. The company has a market cap of $35.51 billion, a P/E ratio of 11.45, a P/E/G ratio of 0.80 and a beta of 1.44. 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 company’s 50-day moving average price is $98.51 and its 200-day moving average price is $70.24.

United Airlines (NASDAQ:UAL) last released its earnings results on Tuesday, January 21st. The transportation company reported $3.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.96 by $0.30. The business had revenue of $14.70 billion for the quarter, compared to analyst estimates of $14.40 billion. United Airlines had a net margin of 5.52% and a return on equity of 34.03%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the company posted $2.00 EPS. On average, sell-side analysts forecast that United Airlines Holdings, Inc. will post 12.56 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on UAL shares. Jefferies Financial Group raised their price target on shares of United Airlines from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Bank of America lifted their price target on United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Barclays upped their price target on United Airlines from $75.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. raised their price objective on United Airlines from $108.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. Finally, Morgan Stanley upped their target price on United Airlines from $88.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $106.45.

Insider Buying and Selling 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Linda P. Jojo sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $95.12, for a total transaction of $5,707,200.00. Following the sale, the executive vice president now owns 63,599 shares of the company’s stock, valued at $6,049,536.88. This represents a 48.54 % decrease in their position. The disclosure for this sale can be found here. 0.63% of the stock is owned by company 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.