New England Research & Management Inc. bought a new position in United Continental Holdings Inc (NYSE:UAL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 9,300 shares of the transportation company’s stock, valued at approximately $627,000.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Americafirst Capital Management LLC grew its stake in United Continental by 299.4% in the 3rd quarter. Americafirst Capital Management LLC now owns 4,270 shares of the transportation company’s stock worth $260,000 after acquiring an additional 3,201 shares during the period. California Public Employees Retirement System grew its stake in United Continental by 2.1% in the 3rd quarter. California Public Employees Retirement System now owns 722,299 shares of the transportation company’s stock worth $43,974,000 after acquiring an additional 14,899 shares during the period. Virtu Financial LLC purchased a new stake in United Continental in the 3rd quarter worth approximately $377,000. Janney Montgomery Scott LLC boosted its holdings in shares of United Continental by 18.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 20,297 shares of the transportation company’s stock valued at $1,236,000 after purchasing an additional 3,180 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of United Continental by 73.0% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 174,195 shares of the transportation company’s stock valued at $10,605,000 after purchasing an additional 73,517 shares during the last quarter. 95.63% of the stock is owned by hedge funds and other institutional investors.
United Continental Holdings Inc (UAL) traded down $0.85 during trading hours on Tuesday, hitting $68.51. 4,277,800 shares of the company traded hands, compared to its average volume of 3,771,540. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.53. The firm has a market cap of $20,550.00, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 1.79 and a beta of 1.05. United Continental Holdings Inc has a 1-year low of $56.51 and a 1-year high of $83.04.
United Continental declared that its board has authorized a stock buyback plan on Thursday, December 7th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the transportation company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
A number of equities analysts have weighed in on UAL shares. Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 price target (down previously from $110.00) on shares of United Continental in a report on Friday, October 20th. Evercore ISI upgraded shares of United Continental from an “in-line” rating to an “outperform” rating and set a $68.00 price target on the stock in a report on Wednesday, October 25th. TheStreet upgraded shares of United Continental from a “c+” rating to a “b” rating in a report on Thursday, December 7th. Imperial Capital lifted their price target on shares of United Continental from $57.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, December 13th. Finally, Zacks Investment Research upgraded shares of United Continental from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. United Continental presently has a consensus rating of “Hold” and an average target price of $79.47.
In other United Continental news, Director Robert A. Milton bought 1,000 shares of United Continental stock in a transaction that occurred on Tuesday, October 24th. The shares were acquired at an average price of $58.60 per share, for a total transaction of $58,600.00. Following the acquisition, the director now owns 6,176 shares of the company’s stock, valued at approximately $361,913.60. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.27% of the company’s stock.
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United Continental Profile
United Continental Holdings, Inc (UAL) is a holding company and its principal subsidiary is United Air Lines, Inc (United). The Company transports people and cargo through its mainline operations. It has global air rights in North America, Asia-Pacific, Europe, Middle East, Africa and Latin America. The Company, through United and its regional carriers, operates flights from its hubs at Newark Liberty International Airport (Newark Liberty), Chicago O’Hare International Airport (Chicago O’Hare), Denver International Airport (Denver), George Bush Intercontinental Airport (Houston Bush), Los Angeles International Airport (LAX), A.B.
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