Knighthead Capital Management LLC recently announced the acquisition of new stake in Wheels Up Experience Inc (NYSE:UP). This fresh investment now brings its stake to 8.69% valued currently at $139.9 million. In addition, Whitebox Advisors LLC raised its holdings by 43.03 million to 43.03 million shares. And The Vanguard Group, Inc. has lifted its position by 0.14% or 1111.0 shares – to 0.82 million shares.
With over 4.51 million Wheels Up Experience Inc (UP) shares trading Tuesday and a closing price of $4.20 on the day, the dollar volume was approximately $18.95 million. The shares have shown a positive half year performance of 315.84% and its price on 12/26/23 gained nearly 32.49%. Currently, there are 696.77M common shares owned by the public and among those 344.78M shares have been available to trade.
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Insiders at the company have transacted a total of 4 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 2 of these insider trades were purchases, accounting for 693,982 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 3,136,504 shares.
The top 3 mutual fund holders in Wheels Up Experience Inc are Vanguard Total Stock Market ETF, Vanguard Extended Market Index Fu, and Invesco FTSE RAFI US 1500 Small M. Vanguard Total Stock Market ETF owns 0.52 million shares of the company’s stock, all valued at over $1.19 million. Invesco FTSE RAFI US 1500 Small M now owns shares totaling to 0.01% of the shares outstanding.
Shares of Wheels Up Experience Inc (NYSE: UP) opened at $3.19, up $0.02 from a prior closing price of $3.17. However, the script later moved the day high at 4.4400, up 32.49%. The company’s stock has a 5-day price change of 124.60% and 100.00% over the past three months. UP shares are trading -59.22% year to date (YTD), with the 12-month market performance down to -59.62% lower. It has a 12-month low price of $0.98 and touched a high of $15.70 over the same period. UP has an average intraday trading volume of 644.88K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 100.96%, 140.63%, and 46.33% respectively.
Institutional ownership of Wheels Up Experience Inc (NYSE: UP) shares accounts for 15.30% of the company’s 696.77M shares outstanding. Mutual fund holders own 15.13%, while other institutional holders and individual stakeholders account for 9.46% and 0.17% respectively.
It has a market capitalization of $2.93B and a beta (3y monthly) value of 2.23. The earnings-per-share (ttm) stands at -$19.83. Price movements for the stock have been influenced by the stock’s volatility, which stands at 26.73% over the week and 18.21% over the month.
Analysts forecast that Wheels Up Experience Inc (UP) will achieve an EPS of -$2.4 for the current quarter, $0 for the next quarter and -$6 for 2024. The lowest estimate earnings-per-share for the quarter is -$2.4 while analysts give the company a high EPS estimate of -$2.4. Comparatively, EPS for the current quarter was -$7.9 a year ago. Earnings per share for the fiscal year are expected to increase by 93.67%, and 38.40% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Wheels Up Experience Inc (UP) as a “Strong Buy” at a consensus score of 1.67. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the UP, a number of firms have released research notes about the stock. Goldman stated their Buy rating for the stock in a research note on June 15, 2022, with the firm’s price target at $5.
