Pinnacle Associates Ltd. Acquires 287 Shares of United Airlines Holdings, Inc. (NASDAQ:UAL)

Pinnacle Associates Ltd. raised its holdings in United Airlines Holdings, Inc. (NASDAQ:UAL) by 5.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,837 shares of the transportation company’s stock after buying an additional 287 shares during the quarter. Pinnacle Associates Ltd.’s holdings in United Airlines were worth $333,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in shares of United Airlines by 5.9% during 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 purchasing an additional 64,542 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of United Airlines by 47.4% during the first quarter. Bessemer Group Inc. now owns 5,471 shares of the transportation company’s stock valued at $261,000 after purchasing an additional 1,759 shares in the last quarter. Tidal Investments LLC boosted its position in shares of United Airlines by 16.4% during the first quarter. Tidal Investments LLC now owns 17,429 shares of the transportation company’s stock valued at $835,000 after purchasing an additional 2,456 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in shares of United Airlines by 1.0% during the first quarter. Texas Permanent School Fund Corp now owns 67,719 shares of the transportation company’s stock valued at $3,242,000 after purchasing an additional 669 shares in the last quarter. Finally, Senator Investment Group LP boosted its position in shares of United Airlines by 39.5% during the second quarter. Senator Investment Group LP now owns 1,046,051 shares of the transportation company’s stock valued at $50,901,000 after purchasing an additional 296,051 shares in the last quarter. 69.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

UAL has been the subject of a number of recent research reports. Susquehanna lifted their price objective on United Airlines from $70.00 to $85.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Barclays lifted their price objective on United Airlines from $66.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group lifted their price objective on United Airlines from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Sanford C. Bernstein lifted their price objective on United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Bank of America lifted their price objective on United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, United Airlines has an average rating of “Moderate Buy” and an average price target of $78.94.

United Airlines Stock Performance

NASDAQ:UAL opened at $80.46 on Monday. The stock has a 50-day simple moving average of $58.30 and a two-hundred day simple moving average of $52.08. United Airlines Holdings, Inc. has a 52-week low of $35.24 and a 52-week high of $81.35. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.72 and a current ratio of 0.79. The firm has a market capitalization of $26.46 billion, a PE ratio of 9.71, a P/E/G ratio of 0.93 and a beta of 1.39.

United Airlines (NASDAQ:UAL) last released its quarterly earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share (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 business had revenue of $14.84 billion during the quarter, compared to analyst estimates of $14.76 billion. During the same quarter in the previous year, the company posted $3.65 earnings per share. Analysts forecast that United Airlines Holdings, Inc. will post 10.18 EPS for the current year.

United Airlines declared that its board has authorized a share repurchase program on Tuesday, October 15th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the transportation company to reacquire up to 7.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at United Airlines

In other United Airlines news, EVP Torbjorn J. Enqvist sold 14,500 shares of the business’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $72.00, for a total transaction of $1,044,000.00. Following the completion of the sale, the executive vice president now owns 30,427 shares of the company’s stock, valued at approximately $2,190,744. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.63% of the stock is currently owned by corporate insiders.

United Airlines Profile

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.