Wheels Up Experience (NYSE:UP) Stock Price Down 2.3% on Insider Selling

Wheels Up Experience Inc. (NYSE:UP) shares traded down 2.3% on Friday after an insider sold shares in the company. The stock traded as low as $1.07 and last traded at $1.09. 97,001 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 1,014,197 shares. The stock had previously closed at $1.11.

Specifically, CEO Mark Briffa sold 28,717 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $1.06, for a total value of $30,440.02. Following the completion of the transaction, the chief executive officer now directly owns 1,090,971 shares of the company’s stock, valued at approximately $1,156,429.26. The trade was a 2.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Wheels Up Experience Trading Down 1.4 %

The stock has a market capitalization of $764.20 million, a P/E ratio of -2.19 and a beta of 2.42. The company has a 50-day moving average price of $1.44 and a 200 day moving average price of $1.86.

Wheels Up Experience (NYSE:UP) last announced its earnings results on Tuesday, March 11th. The company reported ($0.09) earnings per share for the quarter. Wheels Up Experience had a negative return on equity of 796.67% and a negative net margin of 39.97%. The business had revenue of $204.82 million for the quarter.

Hedge Funds Weigh In On Wheels Up Experience

A number of institutional investors have recently bought and sold shares of the business. Hsbc Holdings PLC increased its holdings in shares of Wheels Up Experience by 97.3% during the 4th quarter. Hsbc Holdings PLC now owns 21,775 shares of the company’s stock valued at $35,000 after purchasing an additional 10,740 shares in the last quarter. Stifel Financial Corp acquired a new stake in Wheels Up Experience in the 3rd quarter valued at $41,000. Wells Fargo & Company MN grew its stake in Wheels Up Experience by 49.6% in the 4th quarter. Wells Fargo & Company MN now owns 43,147 shares of the company’s stock valued at $71,000 after acquiring an additional 14,299 shares during the period. SG Americas Securities LLC grew its stake in Wheels Up Experience by 110.7% in the 4th quarter. SG Americas Securities LLC now owns 48,527 shares of the company’s stock valued at $80,000 after acquiring an additional 25,495 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in Wheels Up Experience during the 3rd quarter worth $88,000. 98.20% of the stock is owned by hedge funds and other institutional investors.

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.