Atomi Financial Group Inc. Acquires New Position in United Airlines Holdings, Inc. (NASDAQ:UAL)

Atomi Financial Group Inc. acquired a new stake in United Airlines Holdings, Inc. (NASDAQ:UAL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,625 shares of the transportation company’s stock, valued at approximately $255,000.

Other hedge funds have also recently modified their holdings of the company. State Street Corp lifted its position in United Airlines by 0.8% in the third quarter. State Street Corp now owns 10,320,253 shares of the transportation company’s stock valued at $588,874,000 after buying an additional 78,470 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in United Airlines by 41.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,112,583 shares of the transportation company’s stock valued at $177,604,000 after buying an additional 908,558 shares during the last quarter. MidWestOne Financial Group Inc. lifted its position in United Airlines by 28.0% in the third quarter. MidWestOne Financial Group Inc. now owns 53,704 shares of the transportation company’s stock valued at $3,064,000 after buying an additional 11,743 shares during the last quarter. Aigen Investment Management LP lifted its position in United Airlines by 87.2% in the third quarter. Aigen Investment Management LP now owns 18,912 shares of the transportation company’s stock valued at $1,079,000 after buying an additional 8,808 shares during the last quarter. Finally, Edgestream Partners L.P. lifted its position in United Airlines by 293.6% in the third quarter. Edgestream Partners L.P. now owns 50,122 shares of the transportation company’s stock valued at $2,860,000 after buying an additional 37,389 shares during the last quarter. Hedge funds and other institutional investors own 69.69% of the company’s stock.

United Airlines Stock Performance

Shares of United Airlines stock opened at $105.00 on Monday. The firm has a market capitalization of $34.53 billion, a P/E ratio of 11.13, a P/E/G ratio of 0.77 and a beta of 1.44. United Airlines Holdings, Inc. has a 52 week low of $37.02 and a 52 week high of $116.00. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 1.99. The firm’s 50 day moving average is $99.39 and its two-hundred day moving average is $71.30.

United Airlines (NASDAQ:UAL) last announced its quarterly earnings results on Tuesday, January 21st. The transportation company reported $3.26 EPS for the quarter, beating the consensus estimate of $2.96 by $0.30. The company had revenue of $14.70 billion for the quarter, compared to analyst estimates of $14.40 billion. United Airlines had a net margin of 5.52% and a return on equity of 32.26%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.00 earnings per share. Research analysts forecast that United Airlines Holdings, Inc. will post 12.7 EPS for the current fiscal year.

United Airlines announced that its Board of Directors has authorized a stock buyback program on Tuesday, October 15th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the transportation company to repurchase up to 7.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at United Airlines

In other news, EVP Linda P. Jojo sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $95.12, for a total transaction of $5,707,200.00. Following the transaction, the executive vice president now directly owns 63,599 shares in the company, valued at approximately $6,049,536.88. This trade represents a 48.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kate Gebo sold 17,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $80.44, for a total transaction of $1,407,700.00. Following the transaction, the executive vice president now owns 40,012 shares in the company, valued at approximately $3,218,565.28. This trade represents a 30.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

UAL has been the topic of a number of recent analyst reports. Raymond James reaffirmed an “outperform” rating and issued a $130.00 target price (up previously from $120.00) on shares of United Airlines in a research report on Thursday. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $119.00 target price on shares of United Airlines in a research report on Friday, November 15th. Jefferies Financial Group increased their price target on shares of United Airlines from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Dbs Bank raised shares of United Airlines from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 26th. Finally, Barclays increased their price target on shares of United Airlines from $75.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, United Airlines currently has a consensus rating of “Buy” and an average target price of $110.20.

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.