Wheels Up Experience (NYSE:UP) Stock Price Up 7.1% – Here’s Why

Shares of Wheels Up Experience Inc. (NYSE:UP) shot up 7.1% during trading on Monday . The company traded as high as $1.10 and last traded at $1.13. 36,637 shares traded hands during trading, a decline of 96% from the average session volume of 1,008,740 shares. The stock had previously closed at $1.05.

Wheels Up Experience Price Performance

The company’s 50-day simple moving average is $1.38 and its two-hundred day simple moving average is $1.83. The firm has a market capitalization of $774.67 million, a P/E ratio of -2.22 and a beta of 2.42.

Wheels Up Experience (NYSE:UP) last announced its earnings results 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 company had revenue of $204.82 million during the quarter.

Insider Activity

In other news, CEO of Air Partner Mark Briffa sold 28,717 shares of the stock in a transaction on Thursday, March 13th. The shares were 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 directly owns 1,090,971 shares of the company’s stock, valued at $1,156,429.26. This represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in Wheels Up Experience by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,978,652 shares of the company’s stock valued at $3,266,000 after acquiring an additional 13,372 shares during the period. State Street Corp raised 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 during the period. Northern Trust Corp lifted its holdings in Wheels Up Experience by 10.7% in the 4th quarter. Northern Trust Corp now owns 840,804 shares of the company’s stock worth $1,387,000 after purchasing an additional 81,293 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Wheels Up Experience by 277.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 796,827 shares of the company’s stock worth $1,928,000 after purchasing an additional 585,589 shares during the period. Finally, First Trust Advisors LP purchased a new stake in Wheels Up Experience during the 4th quarter valued at approximately $1,264,000. Institutional investors own 98.20% of the company’s stock.

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.