Mount Lucas Management LP Sells 54,341 Shares of United Airlines Holdings, Inc. (NASDAQ:UAL)

Mount Lucas Management LP reduced its position in United Airlines Holdings, Inc. (NASDAQ:UAL - Free Report) by 53.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,491 shares of the transportation company's stock after selling 54,341 shares during the period. United Airlines makes up about 0.9% of Mount Lucas Management LP's holdings, making the stock its 24th biggest holding. Mount Lucas Management LP's holdings in United Airlines were worth $2,653,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UAL. Interval Partners LP bought a new position in United Airlines in the 1st quarter worth about $103,354,000. Point72 Asset Management L.P. grew its position in United Airlines by 489.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,295,246 shares of the transportation company's stock worth $111,687,000 after purchasing an additional 1,905,664 shares during the last quarter. Dimensional Fund Advisors LP grew its position in United Airlines by 29.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,601,425 shares of the transportation company's stock worth $272,559,000 after purchasing an additional 1,263,604 shares during the last quarter. Assenagon Asset Management S.A. grew its position in United Airlines by 177.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,324,398 shares of the transportation company's stock worth $75,570,000 after purchasing an additional 847,348 shares during the last quarter. Finally, Senator Investment Group LP bought a new position in United Airlines in the 1st quarter worth about $35,910,000. 69.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

UAL has been the subject of several recent analyst reports. Jefferies Financial Group upped their target price 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 company an "overweight" rating in a report on Thursday, October 17th. 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 report on Thursday, October 17th. TD Cowen increased their price objective on shares of United Airlines from $80.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $119.00 price objective on shares of United Airlines in a report on Friday. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, United Airlines has a consensus rating of "Moderate Buy" and an average price target of $86.61.

United Airlines Stock Performance

Shares of NASDAQ UAL traded up $0.01 during mid-day trading on Friday, reaching $91.17. 4,470,000 shares of the company were exchanged, compared to its average volume of 6,801,175. The company's 50-day simple moving average is $66.95 and its 200-day simple moving average is $54.48. The company has a quick ratio of 0.72, a current ratio of 0.79 and a debt-to-equity ratio of 1.95. The stock has a market capitalization of $29.98 billion, a P/E ratio of 11.00, a P/E/G ratio of 1.08 and a beta of 1.39. United Airlines Holdings, Inc. has a twelve month low of $37.02 and a twelve month high of $93.33.

United Airlines (NASDAQ:UAL - Get Free Report) last released its quarterly earnings results on Tuesday, October 15th. The transportation company reported $3.33 EPS for the quarter, topping 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 business 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. As a group, research analysts predict that United Airlines Holdings, Inc. will post 10.23 earnings per share for the current year.

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

Insider Buying and Selling at United Airlines

In related news, EVP Kate Gebo sold 17,500 shares of United Airlines stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $80.44, for a total transaction of $1,407,700.00. Following the sale, the executive vice president now directly owns 40,012 shares of the company's stock, valued at approximately $3,218,565.28. The trade was a 30.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of United Airlines stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $72.00, for a total transaction of $1,044,000.00. Following the sale, the executive vice president now directly owns 30,427 shares in the company, valued at $2,190,744. This trade represents a 32.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.