Wheels Up Experience (NYSE:UP) Shares Down 5.7%

Wheels Up Experience Inc. (NYSE:UP)’s stock price traded down 5.7% during trading on Friday . The stock traded as low as $2.31 and last traded at $2.32. 287,310 shares changed hands during trading, a decline of 72% from the average session volume of 1,037,906 shares. The stock had previously closed at $2.46.

Wheels Up Experience Price Performance

The stock has a 50 day moving average of $2.35 and a 200-day moving average of $2.47. The company has a current ratio of 0.33, a quick ratio of 0.31 and a debt-to-equity ratio of 238.01. The stock has a market capitalization of $1.65 billion, a P/E ratio of -0.23 and a beta of 2.19.

Wheels Up Experience (NYSE:UP) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) EPS for the quarter. Wheels Up Experience had a negative return on equity of 796.67% and a negative net margin of 43.79%. The company had revenue of $196.29 million during the quarter.

Hedge Funds Weigh In On Wheels Up Experience

Large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its stake in Wheels Up Experience by 44.4% in the second quarter. The Manufacturers Life Insurance Company now owns 117,772 shares of the company’s stock valued at $223,000 after purchasing an additional 36,201 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Wheels Up Experience during the 2nd quarter worth approximately $28,000. Rhumbline Advisers lifted its position in Wheels Up Experience by 15,329.7% during the second quarter. Rhumbline Advisers now owns 87,332 shares of the company’s stock valued at $165,000 after acquiring an additional 86,766 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in Wheels Up Experience in the second quarter valued at approximately $37,000. Finally, Bank of New York Mellon Corp grew its holdings in Wheels Up Experience by 1,399.2% in the second quarter. Bank of New York Mellon Corp now owns 264,377 shares of the company’s stock worth $500,000 after purchasing an additional 246,742 shares during the last quarter. 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 membership programs consisting of Connect that offers members variable dynamic pricing on a per trip basis and flexibility on their schedule; Core for private flyers; and UP for Business for small and medium enterprise, and large corporate customers for whom it is primary provider of private flights, as well as supplementary solution to their own aircraft operations.