Penserra Capital Management LLC Sells 4,321 Shares of United Airlines Holdings, Inc. (NASDAQ:UAL)

Penserra Capital Management LLC decreased its stake in United Airlines Holdings, Inc. (NASDAQ:UAL) by 20.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,309 shares of the transportation company’s stock after selling 4,321 shares during the period. Penserra Capital Management LLC’s holdings in United Airlines were worth $929,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in UAL. Dimensional Fund Advisors LP lifted its stake in shares of United Airlines by 29.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,601,425 shares of the transportation company’s stock valued at $272,559,000 after acquiring an additional 1,263,604 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in United Airlines by 41.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,112,583 shares of the transportation company’s stock valued at $177,604,000 after purchasing an additional 908,558 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of United Airlines by 489.2% during the second 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. Assenagon Asset Management S.A. grew its holdings in shares of United Airlines by 177.6% during the third quarter. Assenagon Asset Management S.A. now owns 1,324,398 shares of the transportation company’s stock worth $75,570,000 after purchasing an additional 847,348 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of United Airlines by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,161,931 shares of the transportation company’s stock valued at $55,634,000 after buying an additional 64,542 shares during the period. Institutional investors and hedge funds own 69.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on UAL shares. Jefferies Financial Group upped 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. Citigroup increased their price objective on United Airlines from $98.00 to $122.00 and gave the company a “buy” rating in a report on Tuesday. Morgan Stanley lifted their target price on United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. UBS Group reissued a “buy” rating and issued a $139.00 price target on shares of United Airlines in a research note on Tuesday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $119.00 price objective on shares of United Airlines in a research note on Friday, November 15th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.15.

Insider Activity

In related news, EVP Torbjorn J. Enqvist sold 14,500 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $72.00, for a total value of $1,044,000.00. Following the transaction, the executive vice president now owns 30,427 shares of the company’s stock, valued at approximately $2,190,744. This trade represents a 32.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Linda P. Jojo sold 60,000 shares of United Airlines stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $95.12, for a total value of $5,707,200.00. Following the transaction, the executive vice president now owns 63,599 shares of the company’s stock, valued at $6,049,536.88. This trade represents a 48.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,000 shares of company stock worth $8,158,900 over the last quarter. 0.63% of the stock is currently owned by corporate insiders.

United Airlines Trading Down 0.2 %

NASDAQ:UAL opened at $96.35 on Thursday. The firm has a fifty day simple moving average of $74.07 and a two-hundred day simple moving average of $56.85. United Airlines Holdings, Inc. has a 12 month low of $37.02 and a 12 month high of $101.60. The stock has a market capitalization of $31.69 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.15 and a beta of 1.39. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 1.95.

United Airlines (NASDAQ:UAL) last issued its earnings results on Tuesday, October 15th. The transportation company reported $3.33 EPS for the quarter, beating the consensus estimate of $3.10 by $0.23. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. The company had revenue of $14.84 billion during the quarter, compared to the consensus estimate of $14.76 billion. During the same period last year, the business posted $3.65 EPS. Analysts expect that United Airlines Holdings, Inc. will post 10.23 EPS for the current fiscal year.

United Airlines announced that its board has approved a share repurchase plan on Tuesday, October 15th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the transportation company to repurchase up to 7.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

About United Airlines

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.