Wheels Up Experience (NYSE:UP) Shares Down 4.9% – Here’s Why

Wheels Up Experience Inc. (NYSE:UP)’s stock price was down 4.9% during trading on Thursday . The stock traded as low as $1.07 and last traded at $1.07. Approximately 126,385 shares changed hands during trading, a decline of 87% from the average daily volume of 1,010,042 shares. The stock had previously closed at $1.12.

Wheels Up Experience Stock Down 4.0 %

The stock’s fifty day simple moving average is $1.40 and its two-hundred day simple moving average is $1.84. The firm has a market cap of $750.25 million, a PE ratio of -2.15 and a beta of 2.42.

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

Insider Buying and Selling

In other Wheels Up Experience news, CEO of Air Partner Mark Briffa sold 28,717 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $1.06, for a total transaction of $30,440.02. Following the transaction, the insider now owns 1,090,971 shares in the company, valued at approximately $1,156,429.26. This represents a 2.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is owned by company insiders.

Institutional Trading of Wheels Up Experience

A number of large investors have recently made changes to their positions in UP. First Trust Advisors LP purchased a new stake in Wheels Up Experience during the 4th quarter valued at $1,264,000. Geode Capital Management LLC grew its holdings in shares of Wheels Up Experience by 57.6% in the third quarter. Geode Capital Management LLC now owns 1,965,280 shares of the company’s stock worth $4,757,000 after acquiring an additional 718,411 shares during the period. Charles Schwab Investment Management Inc. increased its position in Wheels Up Experience by 277.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 796,827 shares of the company’s stock valued at $1,928,000 after acquiring an additional 585,589 shares during the last quarter. State Street Corp lifted its holdings in Wheels Up Experience by 41.9% in the third quarter. State Street Corp now owns 1,322,891 shares of the company’s stock valued at $3,201,000 after acquiring an additional 390,414 shares during the period. Finally, Corient Private Wealth LLC purchased a new position in Wheels Up Experience in the fourth quarter worth about $339,000. 98.20% of the stock is currently owned by institutional investors.

Wheels Up Experience Company Profile

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.