Wheels Up Experience (NYSE:UP) Trading 0.2% Higher – Time to Buy?

Wheels Up Experience Inc. (NYSE:UP) shares were up 0.2% during mid-day trading on Monday . The stock traded as high as $7.52 and last traded at $7.2110. Approximately 48,983 shares changed hands during trading, a decline of 78% from the average daily volume of 227,029 shares. The stock had previously closed at $7.20.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on UP shares. Wall Street Zen downgraded shares of Wheels Up Experience from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Wheels Up Experience in a report on Monday, June 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Wheels Up Experience Price Performance

The company has a market cap of $261.25 million, a price-to-earnings ratio of -0.91 and a beta of 2.06. The firm’s fifty day moving average price is $7.90 and its 200-day moving average price is $11.60.

Wheels Up Experience (NYSE:UP) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($2.29) earnings per share (EPS) for the quarter. The firm had revenue of $168.92 million for the quarter.

Insider Buying and Selling at Wheels Up Experience

In related news, CEO George N. Mattson acquired 10,029 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average cost of $5.13 per share, for a total transaction of $51,448.77. Following the completion of the purchase, the chief executive officer directly owned 26,316 shares in the company, valued at $135,001.08. This trade represents a 61.58% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have bought 27,791 shares of company stock worth $146,206 in the last quarter. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Wheels Up Experience

A number of hedge funds and other institutional investors have recently modified their holdings of UP. Knighthead Capital Management LLC bought a new stake in shares of Wheels Up Experience during the first quarter valued at about $133,344,000. Jane Street Group LLC bought a new stake in shares of Wheels Up Experience during the second quarter valued at about $795,000. J. Derek Lewis & Associates Inc. bought a new stake in shares of Wheels Up Experience during the fourth quarter valued at about $356,000. Inspire Investing LLC raised its stake in shares of Wheels Up Experience by 210.6% during the fourth quarter. Inspire Investing LLC now owns 780,918 shares of the company’s stock valued at $513,000 after purchasing an additional 529,534 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Wheels Up Experience during the fourth quarter valued at about $263,000. 98.20% of the stock is currently owned by institutional investors.

About Wheels Up Experience

Wheels Up Experience Inc is a membership-driven private aviation company that provides on-demand charter flights and flight card services to corporate clients and high-net-worth individuals. The company operates a combination of owned and managed aircraft, including turboprops and light to midsize jets, and supplements its fleet through a network of partner operators. Its digital platform allows members to book flights, manage itineraries and access empty-leg opportunities with real-time pricing and availability.

Through tiered membership programs, Wheels Up offers flexible access to private air travel without the long-term commitments typically associated with fractional ownership.