Forest Avenue Capital Management LP Makes New $16.81 Million Investment in United Airlines Holdings, Inc. (NASDAQ:UAL)

Forest Avenue Capital Management LP purchased a new stake in United Airlines Holdings, Inc. (NASDAQ:UAL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 173,142 shares of the transportation company's stock, valued at approximately $16,812,000. United Airlines accounts for about 1.5% of Forest Avenue Capital Management LP's holdings, making the stock its 19th biggest holding. Forest Avenue Capital Management LP owned about 0.05% of United Airlines at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP acquired a new stake in shares of United Airlines in the 3rd quarter worth approximately $2,776,000. Orion Portfolio Solutions LLC purchased a new position in shares of United Airlines in the third quarter valued at $218,000. Nomura Asset Management Co. Ltd. raised its position in United Airlines by 24.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 5,165 shares of the transportation company's stock worth $295,000 after acquiring an additional 1,000 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in United Airlines in the 3rd quarter valued at approximately $129,000. Finally, Franklin Resources Inc. boosted its stake in shares of United Airlines by 214.7% during the third quarter. Franklin Resources Inc. now owns 202,552 shares of the transportation company's stock valued at $11,558,000 after acquiring an additional 138,191 shares during the last quarter. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

United Airlines Stock Down 1.0 %

NASDAQ UAL traded down $0.69 on Friday, hitting $66.30. 11,255,107 shares of the stock traded hands, compared to its average volume of 7,656,540. The company has a current ratio of 0.81, a quick ratio of 0.74 and a debt-to-equity ratio of 1.99. The company has a market capitalization of $21.70 billion, a P/E ratio of 7.03, a price-to-earnings-growth ratio of 0.67 and a beta of 1.19. United Airlines Holdings, Inc. has a twelve month low of $37.02 and a twelve month high of $116.00. The stock has a 50-day moving average of $79.13 and a 200 day moving average of $87.32.

United Airlines (NASDAQ:UAL - Get Free Report) last released its earnings results on Tuesday, April 15th. The transportation company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.16. United Airlines had a net margin of 5.52% and a return on equity of 32.26%. The firm had revenue of $13.21 billion during the quarter, compared to analyst estimates of $13.47 billion. As a group, analysts expect that United Airlines Holdings, Inc. will post 12.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on UAL. TD Cowen raised their target price on shares of United Airlines from $142.00 to $165.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. UBS Group lifted their price objective on United Airlines from $59.00 to $67.00 and gave the company a "neutral" rating in a research report on Thursday. Barclays reduced their target price on United Airlines from $140.00 to $94.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Bank of America dropped their price objective on shares of United Airlines from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Finally, Morgan Stanley boosted their target price on shares of United Airlines from $130.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, January 23rd. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $101.95.

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.