Wheels Up Experience (NYSE:UP) Stock Price Down 5% - Here's What Happened

Shares of Wheels Up Experience Inc. (NYSE:UP - Get Free Report) fell 5% during mid-day trading on Wednesday . The stock traded as low as $1.44 and last traded at $1.44. 753,461 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 904,615 shares. The stock had previously closed at $1.51.

Wheels Up Experience Stock Performance

The company has a 50 day moving average of $1.76 and a 200-day moving average of $2.00. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -2.98 and a beta of 2.39.

Wheels Up Experience (NYSE:UP - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $193.90 million for the quarter. Wheels Up Experience had a negative return on equity of 796.67% and a negative net margin of 39.97%.

Insider Activity at Wheels Up Experience

In other news, Director Donald Lee Moak sold 20,000 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $2.50, for a total value of $50,000.00. Following the sale, the director now directly owns 130,231 shares in the company, valued at approximately $325,577.50. This trade represents a 13.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is currently owned by company insiders.

Institutional Trading of Wheels Up Experience

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC lifted its position in shares of Wheels Up Experience by 110.7% during the 4th quarter. SG Americas Securities LLC now owns 48,527 shares of the company's stock worth $80,000 after buying an additional 25,495 shares during the last quarter. Barclays PLC raised its stake in Wheels Up Experience by 320.8% during the 3rd quarter. Barclays PLC now owns 127,939 shares of the company's stock worth $309,000 after acquiring an additional 97,532 shares in the last quarter. Geode Capital Management LLC lifted its position in Wheels Up Experience by 57.6% in the third quarter. Geode Capital Management LLC now owns 1,965,280 shares of the company's stock valued at $4,757,000 after acquiring an additional 718,411 shares during the last quarter. State Street Corp boosted its stake in Wheels Up Experience by 41.9% in the third 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. Finally, Stifel Financial Corp purchased a new position in shares of Wheels Up Experience during the third quarter worth about $41,000. 98.20% of the stock is currently owned by institutional investors and hedge funds.

About Wheels Up Experience

Wheels Up Experience Inc provides private aviation services in the United States and internationally. The company offers membership programs consisting of Connect that offers members variable dynamic pricing on a per trip basis and flexibility on their schedule; Core for private flyers; and UP for Business for small and medium enterprise, and large corporate customers for whom it is primary provider of private flights, as well as supplementary solution to their own aircraft operations.