Wheels Up Experience (NYSE:UP) Hits New 1-Year Low – Here’s What Happened

Shares of Wheels Up Experience Inc. (NYSE:UP) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $1.41 and last traded at $1.43, with a volume of 424092 shares. The stock had previously closed at $1.51.

Wheels Up Experience Stock Down 5.6 %

The firm has a market capitalization of $994.51 million, a PE ratio of -2.85 and a beta of 2.39. The stock’s fifty day simple moving average is $1.74 and its 200 day simple moving average is $1.99.

Insider Activity

In other news, Director Donald Lee Moak sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $2.50, for a total transaction of $50,000.00. Following the completion of the transaction, the director now owns 130,231 shares in the company, valued at $325,577.50. This trade represents a 13.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Wheels Up Experience

A number of large investors have recently made changes to their positions in UP. Renaissance Technologies LLC purchased a new stake in Wheels Up Experience in the second quarter worth $28,000. The Manufacturers Life Insurance Company increased its stake in Wheels Up Experience by 44.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 117,772 shares of the company’s stock worth $223,000 after buying an additional 36,201 shares during the period. SG Americas Securities LLC bought a new stake in Wheels Up Experience during the 3rd quarter valued at about $56,000. Koss Olinger Consulting LLC purchased a new stake in Wheels Up Experience in the 3rd quarter valued at about $26,000. Finally, Intech Investment Management LLC bought a new position in Wheels Up Experience in the 3rd quarter worth about $88,000. 98.20% of the stock is owned by hedge funds and other institutional investors.

Wheels Up Experience Company Profile

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.