Insider Buying: flyExclusive (NYSE:FLYX) Director Acquires $119,000.00 in Stock

flyExclusive, Inc. (NYSE:FLYX) Director Peter Hopper purchased 50,000 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was bought at an average cost of $2.38 per share, with a total value of $119,000.00. Following the acquisition, the director owned 100,000 shares of the company’s stock, valued at approximately $238,000. The trade was a 100.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

flyExclusive Stock Performance

NYSE:FLYX opened at $2.37 on Friday. The company has a market capitalization of $223.61 million, a P/E ratio of -2.32 and a beta of 0.25. flyExclusive, Inc. has a 12 month low of $1.90 and a 12 month high of $8.88. The firm has a fifty day simple moving average of $2.61 and a 200-day simple moving average of $3.49.

Analyst Ratings Changes

Several analysts have weighed in on the company. Lucid Cap Mkts upgraded flyExclusive to a “strong-buy” rating in a research note on Monday, January 26th. UBS Group set a $7.00 price objective on flyExclusive in a research note on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Strong Buy” and a consensus price target of $7.00.

Institutional Investors Weigh In On flyExclusive

Several hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of flyExclusive by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 113,564 shares of the company’s stock worth $467,000 after purchasing an additional 3,373 shares during the period. Axxcess Wealth Management LLC lifted its stake in shares of flyExclusive by 11.0% in the 3rd quarter. Axxcess Wealth Management LLC now owns 37,750 shares of the company’s stock valued at $186,000 after purchasing an additional 3,750 shares during the period. JPMorgan Chase & Co. boosted its holdings in flyExclusive by 56,636.4% during the third quarter. JPMorgan Chase & Co. now owns 6,241 shares of the company’s stock worth $31,000 after buying an additional 6,230 shares in the last quarter. New York State Common Retirement Fund purchased a new stake in flyExclusive during the third quarter worth $32,000. Finally, MBL Wealth LLC grew its position in flyExclusive by 46.9% during the third quarter. MBL Wealth LLC now owns 28,200 shares of the company’s stock valued at $139,000 after buying an additional 9,000 shares during the period. Hedge funds and other institutional investors own 12.99% of the company’s stock.

flyExclusive Company Profile

flyExclusive (NYSE:FLYX) is a U.S.-based private aviation company that provides on-demand charter, jet card membership, and aircraft management services. The firm operates a proprietary fleet of large-cabin and super-midsize jets, complemented by third-party managed aircraft under its Part 135 operator certificate. flyExclusive offers customized flight solutions for individual, corporate and group travel, with a focus on safety, scheduling flexibility and personalized service.

The company was launched as a standalone brand in 2018 and completed its business combination to become a publicly traded company in November 2021.