Assenagon Asset Management S.A. Grows Stake in United Airlines Holdings, Inc. (NASDAQ:UAL)

Assenagon Asset Management S.A. increased its holdings in United Airlines Holdings, Inc. (NASDAQ:UAL) by 177.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,324,398 shares of the transportation company’s stock after acquiring an additional 847,348 shares during the quarter. Assenagon Asset Management S.A.’s holdings in United Airlines were worth $75,570,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of United Airlines by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,161,931 shares of the transportation company’s stock worth $55,634,000 after buying an additional 64,542 shares during the last quarter. Bessemer Group Inc. increased its stake in United Airlines by 47.4% in the first quarter. Bessemer Group Inc. now owns 5,471 shares of the transportation company’s stock valued at $261,000 after acquiring an additional 1,759 shares during the last quarter. Tidal Investments LLC raised its position in United Airlines by 16.4% during the first quarter. Tidal Investments LLC now owns 17,429 shares of the transportation company’s stock valued at $835,000 after purchasing an additional 2,456 shares in the last quarter. Texas Permanent School Fund Corp boosted its holdings in shares of United Airlines by 1.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 67,719 shares of the transportation company’s stock worth $3,242,000 after purchasing an additional 669 shares in the last quarter. Finally, Senator Investment Group LP boosted its holdings in shares of United Airlines by 39.5% in the 2nd quarter. Senator Investment Group LP now owns 1,046,051 shares of the transportation company’s stock worth $50,901,000 after purchasing an additional 296,051 shares in the last quarter. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at United Airlines

In other United Airlines news, EVP Torbjorn J. Enqvist sold 14,500 shares of the firm’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $72.00, for a total transaction of $1,044,000.00. Following the completion of the transaction, the executive vice president now owns 30,427 shares of the company’s stock, valued at approximately $2,190,744. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on UAL. Bank of America boosted their target price on United Airlines from $70.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. TD Cowen upped their price objective on shares of United Airlines from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Sanford C. Bernstein lifted their target price on shares of United Airlines from $68.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Jefferies Financial Group upped their price target on shares of United Airlines from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Monday. Finally, Susquehanna lifted their price objective on United Airlines from $70.00 to $85.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, United Airlines presently has a consensus rating of “Moderate Buy” and an average price target of $78.94.

United Airlines Trading Up 0.2 %

Shares of United Airlines stock traded up $0.17 during midday trading on Thursday, reaching $73.62. 3,557,083 shares of the company’s stock traded hands, compared to its average volume of 8,615,583. The company has a market cap of $24.21 billion, a PE ratio of 8.94, a price-to-earnings-growth ratio of 0.89 and a beta of 1.44. The stock has a 50 day moving average of $53.39 and a 200-day moving average of $50.35. United Airlines Holdings, Inc. has a 12 month low of $33.68 and a 12 month high of $75.41. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.72 and a current ratio of 0.79.

United Airlines (NASDAQ:UAL) last posted its earnings results on Tuesday, October 15th. The transportation company reported $3.33 EPS for the quarter, topping the consensus estimate of $3.10 by $0.23. The firm had revenue of $14.84 billion during the quarter, compared to analysts’ expectations of $14.76 billion. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. During the same period last year, the company posted $3.65 EPS. As a group, equities analysts expect that United Airlines Holdings, Inc. will post 10.18 EPS for the current fiscal year.

United Airlines declared that its Board of Directors has initiated a share buyback plan on Tuesday, October 15th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the transportation company to reacquire up to 7.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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.