Skye Global Management LP Invests $1.80 Million in United Airlines Holdings, Inc. (NASDAQ:UAL)

Skye Global Management LP purchased a new stake in United Airlines Holdings, Inc. (NASDAQ:UAL - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 31,500 shares of the transportation company's stock, valued at approximately $1,797,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rockefeller Capital Management L.P. lifted its position in shares of United Airlines by 1,394.3% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 374,503 shares of the transportation company's stock worth $21,368,000 after acquiring an additional 349,441 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of United Airlines by 16.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 233,464 shares of the transportation company's stock valued at $13,321,000 after purchasing an additional 32,725 shares during the period. Public Sector Pension Investment Board raised its stake in shares of United Airlines by 2.9% in the third quarter. Public Sector Pension Investment Board now owns 57,322 shares of the transportation company's stock valued at $3,271,000 after purchasing an additional 1,600 shares in the last quarter. Castle Hook Partners LP lifted its position in United Airlines by 176.1% in the third quarter. Castle Hook Partners LP now owns 4,245,120 shares of the transportation company's stock worth $242,227,000 after purchasing an additional 2,707,442 shares during the period. Finally, Rubric Capital Management LP acquired a new stake in United Airlines during the third quarter worth $63,486,000. 69.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 value of $1,407,700.00. Following the completion of the sale, the executive vice president now directly owns 40,012 shares in the company, valued at $3,218,565.28. This trade represents a 30.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Linda P. Jojo sold 60,000 shares of the company's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $95.12, for a total transaction of $5,707,200.00. Following the transaction, the executive vice president now owns 63,599 shares in the company, valued at approximately $6,049,536.88. The trade was a 48.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,000 shares of company stock worth $8,158,900 in the last quarter. Insiders own 0.63% of the company's stock.

United Airlines Price Performance

Shares of UAL stock traded up $0.48 during trading hours on Friday, hitting $96.83. 1,522,541 shares of the company's stock were exchanged, compared to its average volume of 8,357,398. The stock's 50-day moving average is $74.95 and its 200-day moving average is $57.13. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.79 and a quick ratio of 0.72. United Airlines Holdings, Inc. has a 52 week low of $37.02 and a 52 week high of $101.60. The stock has a market cap of $31.85 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 1.14 and a beta of 1.39.

United Airlines (NASDAQ:UAL - Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.23. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. The firm had revenue of $14.84 billion during the quarter, compared to analysts' expectations of $14.76 billion. During the same quarter last year, the company posted $3.65 EPS. As a group, research 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 share buyback plan on Tuesday, October 15th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the transportation company to reacquire up to 7.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

UAL has been the subject of a number of recent research reports. Susquehanna increased their price objective on shares of United Airlines from $70.00 to $85.00 and gave the company a "positive" rating in a research note on Thursday, October 17th. Citigroup increased their price target on shares of United Airlines from $98.00 to $122.00 and gave the stock a "buy" rating in a research report on Tuesday. TD Cowen lifted their price objective on United Airlines from $100.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. Morgan Stanley increased their target price on United Airlines from $80.00 to $88.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. Finally, Bank of America boosted their price target on United Airlines from $70.00 to $84.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $96.15.

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.