Wheels Up Experience (NYSE:UP) Shares Gap Up – What’s Next?

Shares of Wheels Up Experience Inc. (NYSE:UP) gapped up before the market opened on Friday . The stock had previously closed at $1.89, but opened at $1.97. Wheels Up Experience shares last traded at $1.91, with a volume of 1,672,198 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Wheels Up Experience in a research note on Saturday, September 27th. Wall Street Zen upgraded Wheels Up Experience from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Wheels Up Experience Stock Up 3.4%

The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -4.16 and a beta of 2.32. The stock has a fifty day moving average price of $2.01 and a 200-day moving average price of $1.50.

Wheels Up Experience (NYSE:UP) last released its earnings results on Thursday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter. The firm had revenue of $189.64 million during the quarter.

Insiders Place Their Bets

In other news, CAO Alexander Chatkewitz sold 23,959 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $1.46, for a total value of $34,980.14. Following the transaction, the chief accounting officer owned 507,462 shares of the company’s stock, valued at approximately $740,894.52. The trade was a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brian Joseph Kedzior sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $2.94, for a total value of $73,500.00. Following the completion of the transaction, the insider directly owned 834,914 shares in the company, valued at approximately $2,454,647.16. The trade was a 2.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 224,907 shares of company stock valued at $617,064. 0.15% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of UP. Hudson Bay Capital Management LP acquired a new position in Wheels Up Experience during the second quarter worth $25,000. Creative Planning acquired a new position in Wheels Up Experience during the second quarter worth $25,000. Byrne Asset Management LLC acquired a new position in Wheels Up Experience during the first quarter worth $27,000. Beck Mack & Oliver LLC acquired a new position in Wheels Up Experience during the second quarter worth $27,000. Finally, CWM LLC grew its holdings in Wheels Up Experience by 77.0% during the second quarter. CWM LLC now owns 24,880 shares of the company’s stock worth $27,000 after acquiring an additional 10,827 shares during the period. Institutional investors and hedge funds own 98.20% of the company’s stock.

About Wheels Up Experience

Wheels Up Experience Inc provides private aviation services in the United States and internationally. The company offers Wheels Up Membership program that consists of two primary membership categories, such as Individual membership for individual and business fliers; and UP for Business membership consists of small and medium enterprise, and custom enterprise solutions for business fliers that tend to spend at higher levels.