Assenagon Asset Management S.A. Purchases 847,348 Shares of United Airlines Holdings, Inc. (NASDAQ:UAL)

Assenagon Asset Management S.A. boosted its holdings in shares of United Airlines Holdings, Inc. (NASDAQ:UAL - Free Report) by 177.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,324,398 shares of the transportation company's stock after buying an additional 847,348 shares during the period. Assenagon Asset Management S.A. owned approximately 0.40% of United Airlines worth $75,570,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in shares of United Airlines by 2,351.1% during the 3rd quarter. International Assets Investment Management LLC now owns 91,524 shares of the transportation company's stock valued at $5,222,000 after acquiring an additional 87,790 shares in the last quarter. Signaturefd LLC boosted its position in United Airlines by 25.8% during the third quarter. Signaturefd LLC now owns 6,265 shares of the transportation company's stock valued at $357,000 after purchasing an additional 1,283 shares during the last quarter. Seamount Financial Group Inc. grew its stake in United Airlines by 3.8% in the third quarter. Seamount Financial Group Inc. now owns 8,195 shares of the transportation company's stock valued at $468,000 after purchasing an additional 302 shares in the last quarter. Blue Trust Inc. increased its position in United Airlines by 108.6% in the 3rd quarter. Blue Trust Inc. now owns 753 shares of the transportation company's stock worth $43,000 after purchasing an additional 392 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its holdings in shares of United Airlines by 16.3% during the 3rd quarter. V Square Quantitative Management LLC now owns 7,527 shares of the transportation company's stock valued at $429,000 after buying an additional 1,057 shares during the last quarter. 69.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Torbjorn J. Enqvist sold 14,500 shares of the business's stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $72.00, for a total value of $1,044,000.00. Following the transaction, the executive vice president now owns 30,427 shares in the company, valued at $2,190,744. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

United Airlines Trading Up 1.4 %

Shares of UAL stock traded up $1.06 during trading hours on Thursday, hitting $74.51. 5,885,422 shares of the company's stock traded hands, compared to its average volume of 8,627,367. The stock's 50 day simple moving average is $53.39 and its 200 day simple moving average is $50.35. United Airlines Holdings, Inc. has a 12 month low of $33.68 and a 12 month high of $75.41. The stock has a market cap of $24.50 billion, a PE ratio of 8.99, a price-to-earnings-growth ratio of 0.89 and a beta of 1.44. The company has a quick ratio of 0.72, a current ratio of 0.79 and a debt-to-equity ratio of 1.95.

United Airlines (NASDAQ:UAL - Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.23. The firm had revenue of $14.84 billion for the quarter, compared to the consensus estimate of $14.76 billion. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. During the same quarter in the prior year, the company posted $3.65 earnings per share. On average, sell-side analysts anticipate that United Airlines Holdings, Inc. will post 10.18 EPS for the current year.

United Airlines declared that its board has approved a stock buyback program on Tuesday, October 15th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the transportation company to purchase up to 7.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have recently commented on UAL shares. Bank of America increased their price objective on United Airlines from $70.00 to $84.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Barclays increased their price target on United Airlines from $66.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Susquehanna boosted their price objective on shares of United Airlines from $70.00 to $85.00 and gave the stock a "positive" rating in a research note on Thursday, October 17th. Jefferies Financial Group upped their price objective on shares of United Airlines from $75.00 to $95.00 and gave the stock a "buy" rating in a report on Monday. Finally, Morgan Stanley lifted their target price on shares of United Airlines from $80.00 to $88.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, United Airlines currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.94.

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.