Avala Global LP Acquires New Holdings in United Airlines Holdings, Inc. (NASDAQ:UAL)

Avala Global LP purchased a new stake in United Airlines Holdings, Inc. (NASDAQ:UAL - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 544,600 shares of the transportation company's stock, valued at approximately $31,075,000. United Airlines accounts for approximately 2.0% of Avala Global LP's portfolio, making the stock its 23rd biggest position. Avala Global LP owned approximately 0.17% of United Airlines as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sanders Capital LLC increased its position in shares of United Airlines by 12.4% during the third quarter. Sanders Capital LLC now owns 9,457,587 shares of the transportation company's stock worth $539,650,000 after buying an additional 1,040,589 shares during the period. Dimensional Fund Advisors LP increased its position in shares of United Airlines by 29.1% during the second quarter. Dimensional Fund Advisors LP now owns 5,601,425 shares of the transportation company's stock worth $272,559,000 after buying an additional 1,263,604 shares during the period. Castle Hook Partners LP increased its position in shares of United Airlines by 176.1% during the third quarter. Castle Hook Partners LP now owns 4,245,120 shares of the transportation company's stock worth $242,227,000 after buying an additional 2,707,442 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of United Airlines by 41.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,112,583 shares of the transportation company's stock worth $177,604,000 after buying an additional 908,558 shares during the period. Finally, Point72 Asset Management L.P. increased its position in shares of United Airlines by 489.2% during the second quarter. Point72 Asset Management L.P. now owns 2,295,246 shares of the transportation company's stock worth $111,687,000 after buying an additional 1,905,664 shares during the period. 69.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group increased their price objective 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. Morgan Stanley increased their price objective 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. Citigroup increased their target price on shares of United Airlines from $98.00 to $122.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Sanford C. Bernstein increased their target price on shares of United Airlines from $68.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Finally, Barclays increased their target price on shares of United Airlines from $75.00 to $150.00 and gave the stock an "overweight" rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, United Airlines has a consensus rating of "Buy" and a consensus price target of $96.15.

United Airlines Stock Up 0.5 %

Shares of UAL traded up $0.48 during trading hours on Monday, reaching $96.83. 1,522,897 shares of the stock traded hands, compared to its average volume of 8,357,400. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 1.95. The stock has a fifty day simple moving average of $75.84 and a 200 day simple moving average of $57.45. United Airlines Holdings, Inc. has a 52 week low of $37.02 and a 52 week high of $101.60. The company has a market cap of $31.85 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.15 and a beta of 1.39.

United Airlines (NASDAQ:UAL - Get Free Report) last released its quarterly earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, beating analysts' consensus estimates of $3.10 by $0.23. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. The company had revenue of $14.84 billion for the quarter, compared to analyst estimates of $14.76 billion. During the same period last year, the firm earned $3.65 earnings per share. On average, equities analysts forecast that United Airlines Holdings, Inc. will post 10.23 EPS for the current year.

United Airlines declared that its board has authorized a stock repurchase program on Tuesday, October 15th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the transportation company to buy up to 7.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, EVP Linda P. Jojo sold 60,000 shares of United Airlines stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $95.12, for a total value of $5,707,200.00. Following the completion of the transaction, the executive vice president now owns 63,599 shares in the company, valued at $6,049,536.88. This trade represents a 48.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kate Gebo sold 17,500 shares of United Airlines stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 40,012 shares of the company's stock, valued at $3,218,565.28. The trade was a 30.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,000 shares of company stock worth $8,158,900. Insiders own 0.63% of the company's stock.

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.