Janney Montgomery Scott LLC Increases Stock Position in United Airlines Holdings, Inc. (NASDAQ:UAL)

Janney Montgomery Scott LLC increased its stake in United Airlines Holdings, Inc. (NASDAQ:UAL) by 1.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,404 shares of the transportation company’s stock after purchasing an additional 248 shares during the quarter. Janney Montgomery Scott LLC’s holdings in United Airlines were worth $1,278,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in UAL. Global Trust Asset Management LLC acquired a new stake in shares of United Airlines during the 3rd quarter valued at approximately $29,000. Strategic Investment Solutions Inc. IL acquired a new stake in United Airlines in the second quarter valued at $30,000. Crewe Advisors LLC purchased a new position in shares of United Airlines in the first quarter valued at $32,000. UMB Bank n.a. raised its stake in shares of United Airlines by 59.7% during the 2nd quarter. UMB Bank n.a. now owns 682 shares of the transportation company’s stock worth $33,000 after buying an additional 255 shares during the last quarter. Finally, Armstrong Advisory Group Inc. purchased a new stake in shares of United Airlines in the 3rd quarter worth about $36,000. Institutional investors and hedge funds own 69.69% of the company’s stock.

Insider Activity

In other United Airlines news, EVP Kate Gebo sold 17,500 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.44, for a total value of $1,407,700.00. Following the transaction, the executive vice president now owns 40,012 shares in the company, valued at $3,218,565.28. The trade was a 30.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of United Airlines stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $72.00, for a total value of $1,044,000.00. Following the sale, the executive vice president now directly owns 30,427 shares in the company, valued at approximately $2,190,744. The trade was a 32.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.

United Airlines Stock Performance

Shares of NASDAQ:UAL opened at $91.16 on Friday. The business has a 50-day moving average of $65.12 and a two-hundred day moving average of $53.93. The firm has a market capitalization of $29.98 billion, a PE ratio of 11.11, a P/E/G ratio of 1.06 and a beta of 1.39. United Airlines Holdings, Inc. has a 12 month low of $37.02 and a 12 month high of $93.33. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.79 and a quick ratio of 0.72.

United Airlines (NASDAQ:UAL) last posted its earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.23. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. The business had revenue of $14.84 billion for the quarter, compared to analyst estimates of $14.76 billion. During the same quarter in the previous year, the business posted $3.65 EPS. As a group, research analysts forecast that United Airlines Holdings, Inc. will post 10.23 earnings per share for the current year.

United Airlines announced that its board has initiated a stock repurchase plan on Tuesday, October 15th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the transportation company to purchase up to 7.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have issued reports on UAL. Morgan Stanley lifted their target price on shares of United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Jefferies Financial Group upped their target price on United Airlines from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Bank of America raised their price target on United Airlines from $70.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Sanford C. Bernstein upped their price objective on United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, TD Cowen lifted their price objective on United Airlines from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $84.30.

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.