Wheels Up Experience (NYSE:UP) Trading Down 6.9% - Here's What Happened

Wheels Up Experience Inc. (NYSE:UP - Get Free Report) fell 6.9% on Monday . The company traded as low as $0.79 and last traded at $0.79. 146,395 shares were traded during mid-day trading, a decline of 86% from the average session volume of 1,037,114 shares. The stock had previously closed at $0.85.

Wheels Up Experience Stock Performance

The business's 50-day simple moving average is $1.09 and its 200 day simple moving average is $1.65. The firm has a market cap of $580.70 million, a P/E ratio of -1.66 and a beta of 2.39.

Wheels Up Experience (NYSE:UP - Get Free Report) last announced its earnings results on Tuesday, March 11th. The company reported ($0.09) earnings per share (EPS) for the quarter. The business had revenue of $204.82 million for the quarter. Wheels Up Experience had a negative net margin of 39.97% and a negative return on equity of 796.67%.

Insider Transactions at Wheels Up Experience

In related news, CEO of Air Partner Mark Briffa sold 28,717 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $1.06, for a total value of $30,440.02. Following the completion of the sale, the insider now directly owns 1,090,971 shares of the company's stock, valued at $1,156,429.26. This represents a 2.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.13% of the company's stock.

Hedge Funds Weigh In On Wheels Up Experience

Several hedge funds have recently bought and sold shares of UP. First Trust Advisors LP acquired a new stake in shares of Wheels Up Experience during the fourth quarter valued at about $1,264,000. Geode Capital Management LLC increased its stake in Wheels Up Experience by 57.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,965,280 shares of the company's stock worth $4,757,000 after purchasing an additional 718,411 shares in the last quarter. State Street Corp grew its stake in Wheels Up Experience by 41.9% during the 3rd quarter. State Street Corp now owns 1,322,891 shares of the company's stock valued at $3,201,000 after acquiring an additional 390,414 shares in the last quarter. Corient Private Wealth LLC acquired a new position in Wheels Up Experience in the 4th quarter worth about $339,000. Finally, BNP Paribas Financial Markets acquired a new position in Wheels Up Experience during the fourth quarter worth $199,000. Hedge funds and other institutional investors own 98.20% of the company's stock.

Wheels Up Experience Company Profile

Wheels Up Experience Inc provides private aviation services in the United States and internationally. The company offers Wheels Up Membership program that consists of two primary membership categories, such as Individual membership for individual and business fliers; and UP for Business membership consists of small and medium enterprise, and custom enterprise solutions for business fliers that tend to spend at higher levels.