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

Wheels Up Experience Inc. (NYSE:UP) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $0.77 and last traded at $0.79, with a volume of 722812 shares trading hands. The stock had previously closed at $0.85.

Wheels Up Experience Price Performance

The firm has a market capitalization of $577.83 million, a P/E ratio of -1.65 and a beta of 2.39. The stock’s fifty day simple moving average is $1.12 and its 200 day simple moving average is $1.67.

Wheels Up Experience (NYSE:UP) last posted its quarterly earnings data on Tuesday, March 11th. The company reported ($0.09) EPS for the quarter. Wheels Up Experience had a negative return on equity of 796.67% and a negative net margin of 39.97%. The firm had revenue of $204.82 million for the quarter.

Insider Transactions at Wheels Up Experience

In other Wheels Up Experience news, CEO of Air Partner Mark Briffa sold 28,717 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $1.06, for a total value of $30,440.02. Following the completion of the sale, the insider now owns 1,090,971 shares of the company’s stock, valued at approximately $1,156,429.26. This trade represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Wheels Up Experience

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp increased its stake in Wheels Up Experience by 41.9% during the 3rd quarter. State Street Corp now owns 1,322,891 shares of the company’s stock valued at $3,201,000 after purchasing an additional 390,414 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Wheels Up Experience by 57.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,965,280 shares of the company’s stock valued at $4,757,000 after acquiring an additional 718,411 shares during the period. Barclays PLC raised its stake in Wheels Up Experience by 320.8% in the 3rd quarter. Barclays PLC now owns 127,939 shares of the company’s stock worth $309,000 after acquiring an additional 97,532 shares during the last quarter. Stifel Financial Corp purchased a new position in Wheels Up Experience in the 3rd quarter worth $41,000. Finally, CIBC Private Wealth Group LLC lifted its position in Wheels Up Experience by 48,303.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 75,025 shares of the company’s stock worth $119,000 after acquiring an additional 74,870 shares during the period. 98.20% of the stock is owned by hedge funds and other institutional investors.

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.