Texas Permanent School Fund Corp Cuts Stock Position in United Airlines Holdings, Inc. (NASDAQ:UAL)

Texas Permanent School Fund Corp cut its holdings in United Airlines Holdings, Inc. (NASDAQ:UAL) by 19.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,225 shares of the transportation company’s stock after selling 13,494 shares during the quarter. Texas Permanent School Fund Corp’s holdings in United Airlines were worth $2,639,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in UAL. Choreo LLC acquired a new position in United Airlines in the 2nd quarter valued at $387,000. Quest Partners LLC grew its holdings in shares of United Airlines by 3,504.8% during the second quarter. Quest Partners LLC now owns 757 shares of the transportation company’s stock worth $37,000 after buying an additional 736 shares in the last quarter. Oak Thistle LLC acquired a new stake in shares of United Airlines in the second quarter valued at about $344,000. Los Angeles Capital Management LLC purchased a new position in shares of United Airlines in the second quarter worth about $4,274,000. Finally, Victory Capital Management Inc. boosted its position in United Airlines by 8.8% during the second quarter. Victory Capital Management Inc. now owns 146,574 shares of the transportation company’s stock worth $7,132,000 after acquiring an additional 11,906 shares during the last quarter. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

United Airlines Stock Up 2.2 %

Shares of UAL opened at $51.34 on Tuesday. The firm has a market cap of $16.88 billion, a P/E ratio of 6.35, a price-to-earnings-growth ratio of 1.04 and a beta of 1.43. United Airlines Holdings, Inc. has a 12-month low of $33.68 and a 12-month high of $56.17. The company’s 50-day moving average price is $44.47 and its 200 day moving average price is $47.33. The company has a current ratio of 0.77, a quick ratio of 0.71 and a debt-to-equity ratio of 2.07.

United Airlines (NASDAQ:UAL) last issued its quarterly earnings data on Wednesday, July 17th. The transportation company reported $4.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.97 by $0.17. The firm had revenue of $14.99 billion for the quarter, compared to analyst estimates of $15.04 billion. United Airlines had a net margin of 5.28% and a return on equity of 33.90%. United Airlines’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $5.03 EPS. On average, sell-side analysts forecast that United Airlines Holdings, Inc. will post 9.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on UAL. Redburn Atlantic upgraded shares of United Airlines from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Thursday, June 6th. Citigroup lifted their price objective on United Airlines from $80.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Jefferies Financial Group upgraded United Airlines from a “hold” rating to a “buy” rating and upped their target price for the company from $54.00 to $65.00 in a report on Wednesday, May 29th. Finally, TD Cowen lifted their price target on United Airlines from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $71.68.

About United Airlines

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.