Wheels Up Experience (NYSE:UP) Stock Price Down 4.3% - Here's Why

Wheels Up Experience Inc. (NYSE:UP - Get Free Report)'s stock price traded down 4.3% during mid-day trading on Tuesday . The company traded as low as $0.94 and last traded at $0.92. 37,601 shares were traded during trading, a decline of 96% from the average session volume of 1,029,273 shares. The stock had previously closed at $0.96.

Wheels Up Experience Stock Performance

The stock's fifty day simple moving average is $1.16 and its two-hundred day simple moving average is $1.70. The company has a market capitalization of $557.64 million, a price-to-earnings ratio of -1.60 and a beta of 2.39.

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

Insider Activity at Wheels Up Experience

In other Wheels Up Experience news, CEO of Air Partner Mark Briffa sold 28,717 shares of the firm's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $1.06, for a total value of $30,440.02. Following the completion of the transaction, the insider now directly owns 1,090,971 shares in the company, valued at $1,156,429.26. This trade represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wheels Up Experience

Several hedge funds have recently made changes to their positions in UP. Focus Partners Wealth purchased a new stake in Wheels Up Experience in the 4th quarter worth about $110,000. Bank of America Corp DE boosted its stake in shares of Wheels Up Experience by 72.5% during the 4th quarter. Bank of America Corp DE now owns 73,560 shares of the company's stock valued at $121,000 after buying an additional 30,919 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of Wheels Up Experience during the 4th quarter valued at $199,000. Northern Trust Corp raised its holdings in shares of Wheels Up Experience by 10.7% during the fourth quarter. Northern Trust Corp now owns 840,804 shares of the company's stock worth $1,387,000 after acquiring an additional 81,293 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in Wheels Up Experience by 97.3% during the fourth quarter. Hsbc Holdings PLC now owns 21,775 shares of the company's stock valued at $35,000 after purchasing an additional 10,740 shares during the last quarter. Hedge funds and other institutional investors own 98.20% of the company's stock.

About Wheels Up Experience

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.